Cytori Therapeutics Inc., a developer, manufacturer and seller of medical products and devices to allow the practice of regenerative medicine, last week announced that it signed into a Celution® System agreement with Apollo Hospitals. Apollo is one of the largest private healthcare groups in Asia.
Cytori will provide the technology initially at Apollo’s select cosmetic surgery centers in India. Dr. Prathap C. Reddy, founder and chairman of Apollo Hospitals, said that the alliance with Cytori has the potential to revolutionize the delivery of personalized cell therapy in India.
Cytori is looking to build a successful commercial business in India through Apollo, which is a core customer. The agreement comes after clinical evaluation of Celution®-based soft tissue procedures performed by Apollo.
Since the announcement, Cytori shares gained 4.78%, compared with a gain of 3.71% for the NASDAQ. In the last one month, the stock gained 4.11%, compared with a gain of 2.70% for the NASDAQ. Year-to-date, the stock fell 36.96%, compared with a decline of 4.36% for the NASDAQ.
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