NEWS out on CRYO ---EATONTOWN, NJ / ACCESSWIRE / May 23, 2017 / American CryoStem Corporation (OTC PINK: CRYO) a leading strategic developer, marketer and global licensor of patented adipose tissue-based cellular technologies for the Regenerative and Personalized Medicine industries, today released summary corporate and financial highlight information regarding the Company's six months ending March 31, 2017 versus the same six month period in fiscal 2016:
- The Company's Total Revenue increased from $279,554 to $750,140, for the six month period for Fiscal 2017 versus Fiscal 2016
- Accounts Receivable increased 105% to $134,171 for the six month period for Fiscal 2017 versus Fiscal 2016
- Tissue storage and processing increased 168% in the six month period for 2017 versus the same period for Fiscal 2016
- Cost of revenue increased to $273,221 from $148,421 attributable to higher processing volumes but decreased as a percentage of revenue for the six month period from 53% in 2016 to 36% in 2017
- Professional fees increased (principally legal and accounting) to $44,104 in the six month period as compared to $30,623 for the same period in Fiscal 2016 due to an increase in legal expenses for the prosecution of our international patent portfolio, and optimization and scale up work associated with preparation of a number of pending 510k filings for our media, cryostorage and transportation products.
"American CryoStem's six months results for the period ended March 31, 2017 reflect the expansion of distribution of our products and services. During the balance of our Fiscal 2017, we will be seeking 510k registration of our products so that they are more readily accepted for use in the international markets," stated Anthony Dudzinski, COO.
John S. Arnone, CEO stated, "We have seen a steady increase of new patients utilizing our ATGRAFT tissue storage platform and individuals storing their stem cells for future use during the quarter. We are in discussions for new global territories with licensees seeking to establish our adipose tissue (fat) based collect-process-store, stem cell platform in their country. The increased interest in cellular therapies is evidenced in eight thousand (8,000+) plus clinical trials currently registered with ClinicalTrials.gov focused on adipose tissue and its derivatives, and a continued expansion of approved cellular therapies outside the US market." Arnone further stated, "We look forward to expanding our global laboratory consumable product sales as we open new territories and regenerative and personalized medicine applications become main stream."
About American CryoStem Corporation
American CryoStem Corporation (OTC PINK: CRYO); was founded in 2008, and has evolved to become a biotechnology pioneer, standardizing adipose tissue derived technologies (Adult Stem Cells) for the fields of Regenerative and Personalized Medicine. The Company operates a state-of-art, FDA-registered, clinical laboratory in New Jersey and licensed laboratories in Hong Kong, China and Tokyo, Japan, operating on our proprietary platform, dedicated to the collection, processing, bio-banking, culturing and differentiation of adipose tissue (fat) and adipose derived stem cells (ADSCs) for current or future use in regenerative medicine. CRYO maintains a strategic portfolio of intellectual property (IP) that surrounds our proprietary technology which supports a growing pipeline of stem cell applications and biologic products. We are leveraging our proprietary, IRB approved, FDA compliant platform and a developed product portfolio to create a domestic and global footprint of licensed laboratory affiliates, physicians networks and research organizations who purchase tissue collection, processing and storage consumables from our Company. Our laboratory stem cell bank/line products are characterized adult human Mesenchymal Stem Cell (MSC's) derived from adipose tissue that work in conjunction with our 13 patented (non-animal) medium lines. The Company's R&D efforts are focused on university and private collaborations to discover, develop and commercialize ADSC therapies by utilizing our standardized collection-processing-storage methodology and laboratory products combined with synergistic technologies to create jointly developed regenerative medicine applications and intellectual property.
For further detailed corporate or Regenerative Medicine information please visit:
www.americancryostem.com, request by email at info@americancryostem.com or phone 732-747-1007
SOURCE: American CryoStem Corporation
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