Cryo-Save Group NV, (AIM: CRYO, 'the Company', "Cryo-Save"), Europe's largest adult stem cell storage bank, announces that it now has 100,000 stem cell samples under storage. This significant landmark was reached yesterday when the stem cells from the one hundred thousandth newborn child were safely stored in the Company's facilities.
By reaching this important milestone, Cryo-Save has underlined its leading position in Europe, represented by an estimated market share of around 50%.
Rob Koremans, Chief Executive of Cryo-Save, said:
"Cryo-Save is Europe's leading stem cell bank, not only in terms of market share, but also in setting the highest standards in stem cell storage, and our commitment to research to further improve cryopreservation techniques."
"The impact of the economic crisis seems to be having a relatively mild impact on our business. This is probably because of two principal reasons: firstly because the market penetration of stem cell storage in Europe is still only at its early stages; and, secondly because our customers believe in the enormous potential of stem cells for future clinical applications."
In a recent consensus meeting of the International Tissue Engineering Research Association (ITERA), leading scientists and clinicians from the field of stem cell research and stem cell therapy concluded that over 85 diseases could currently be treated or supported with stem cells. Given the number of ongoing experiments and clinical trials, the number of therapeutic applications is expected to increase rapidly in the future.
Cryo-Save will be publishing its Final Results for the year ended 31 December 2008 on Tuesday, 24 March 2009.
Enquiries:
For further details:
Cryo-Save Group + 31 (0) 575 548 998
Rob Koremans, Chief Executive
Arnoud van Tulder, Chief Financial Officer
Daniel Stewart & Company plc + 44 (0) 20 7776 6550
Lindsay Mair/Tessa Smith
College Hill + 44 (0) 20 7457 2020
Adrian Duffield/Jon Davies
About Cryo-Save
Cryo-Save Group is Europe's leading stem cell bank, with more than 100,000 samples stored. Cryo-Save was established in 2000, with its headquarters based in The Netherlands and owns, or has access to, operating laboratory and storage facilities in Belgium, Germany, Dubai and India. The Company's services are available in 38 countries across three continents (Europe, Asia and Africa).