Bio-Innovator Saneron CCEL Therapeutics Supports Cryo-Cell International Leadership and Board of Directors in Proxy Contest
Saneron recommends that Cryo-Cell shareholders retain the current leadership and Board.
TAMPA, Fla., July 3, 2012 /PRNewswire/ -- On behalf of Saneron CCEL Therapeutics, Inc., President and COO, Nicole Kuzmin-Nichols, MBA, expressed strong support today for the Cryo-Cell International, Inc. (OTCQB: CCEL) current executive management in response to a proxy bid by a former Board member. Cryo-Cell is a major shareholder in Saneron, a Tampa based biotechnology research and development company that was spun out from the University of South Florida to develop cellular therapies for deadly diseases that lack adequate treatment options.
"Saneron has enjoyed a good working relationship with David and Mark Portnoy since they assumed leadership at Cryo-Cell in August 2011, and our board is convinced that their guidance is adding shareholder value," commented Kuzmin-Nichols. "They have shown themselves to be committed partners with Saneron as we continue breaking new ground in cord and menstrual blood stem cell research. Our Small Business Technology Transfer Program (STTR) Phase II efforts are producing real progress towards effective treatments for Alzheimer's disease and stroke and we look forward to continuing our research in concert with Cryo-Cell."
"Our research team is very impressed with Dr. Linda Kelley, Cryo-Cell's new chief scientific officer, who joined the company from Harvard's Dana-Farber Cancer Institute. She will be a valuable collaborator. The Portnoys' ability to attract such top notch talent speaks volumes about their clear vision for the company's future and commitment to keeping it on the leading edge of regenerative medicine," she continued.
"Mark and David Portnoy have made great strides in establishing strong relationships with obstetricians and gynecologists to enhance patient awareness of Cryo-Cell. Our team has worked hand in hand with them to inform physicians about the latest developments in cord blood and cord tissue stem cell research so the physicians understand how important it is to encourage expectant parents to store their cord blood and cord tissue. During the 11 years that Saneron and Cryo-Cell have been associated, this is the first time we've seen Cryo-Cell reach out so assertively to the core physicians who have the ability to create streams of revenue for the company. We couldn't be more pleased to be working with David, Mark and their team as they take the company to the next level. Shareholders would be wise to retain them."
About Saneron CCEL Therapeutics, Inc.
Saneron CCEL Therapeutics, Inc. is a biotechnology research and development company focused on neurological and cardiac cell therapy for the early intervention and treatment of several devastating or deadly diseases which lack adequate treatment options. Saneron, a University of South Florida spin-out company, is located at the Tampa Bay Technology Incubator. Saneron is committed to providing readily available, noncontroversial stem cells for cellular therapies and has patented and patent-pending technology relating to its platform technology of umbilical cord blood and Sertoli cells.
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward- looking statements as a result of various factors. The Company's further development is highly dependent on future medical and research developments and market acceptance, which is outside its control.
SOURCE Saneron CCEL Therapeutics, Inc.
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