MacroPore Biosurgery, Inc. Changes Name to Cytori Therapeutics, Inc.
MacroPore Biosurgery, Inc. announced it has changed its name to Cytori Therapeutics, Inc. The change was made to better reflect the company's focus and significant progress in the development of regenerative therapeutics. The Company will continue to trade its shares on the Frankfurt Stock Exchange under the symbol XMP.
"Over the past year, our adipose stem cell development efforts have resulted in numerous scientific, intellectual property, regulatory and financial milestones, which are representative of our transition to a biotechnology company," according to Christopher J. Calhoun, Chief Executive Officer of Cytori. "We look forward to building upon our recent success and advancing our adipose stem cell treatments into clinical trials in 2006."
As part of this strategic reorganization, MacroPore Biosurgery will become a division of Cytori. MacroPore Biosurgery will continue to manufacture the HYDROSORB(TM) family of FDA-cleared bioresorbable implants as well as continue the development of the Thin Film bioresorbable implants for Senko Medical Trading Co. in Japan. Cytori will report financials for MacroPore Biosurgery as a distinct business segment that will operate the bioresorbable implants business.
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