Vitrolife AB (publ) invests in Cell Therapeutics Scandinavia AB
VITROLIFE AB (PUBL) INVESTS IN CELL THERAPEUTICS SCANDINAVIA AB Vitrolife has in connection with a share issue acquired 10,7 % in Cell Therapeutics. InnovationsKapital and A+ Science Invest AB have simultaneously invested in Cell Therapeutics. The investment vouches for the realisation of Cell Therapeutic´s research program, the procurement of a patent portfolio and the establishment of the organization and laboratories. Vitrolife recently entered into a research and co-operation agreement with Cell Therapeutics, based in Göteborg, with affiliation to the universities in Göteborg and Uppsala, Sweden and Sahlgrenska University Hospital.Cell Therapeutics's core-competence encompasses all steps in the R&D chain, from the isolation of stem cells to clinical applications. Professors Christer Betzholtz, Peter Eriksson and Anders Lindahl contribute with unique pre-clinical and clinical cell therapy expertise. Professor Sven Enerbäck's research focuses on the development of new stem cell-based treatment methods for cardiac infarction and heart failure. Professor Henrik Semb's research team is working on models for the application of stem cells for the treatment of diabetes. Vitrolife will initially deliver media to Cell Therapeutics's stem cell research and later, on an exclusive basis, commercialise media for clinical cultivation of stem cells and tissues. Göteborg, 12th of September 2001. Vitrolife AB (publ) For further information, please contact: Vitrolife: President and CEO Dr. Peter Svalander, tel +46-31-721 80 01 CFO Stefan Jacobsson, tel +46-31-721 80 10 www.vitrolife.com Vitrolife Vitrolife's business mission is to develop, produce and sell advanced products and systems for the preparation, cultivation, preservation and support of cells, tissues and organs. Vitrolife expands the Company's production capacity to meet an expected increase in demand for its products, as well as strengthen its global market position as a leading company in the development of innovative cell and tissue technologies. Vitrolife believes that the number of procedures performed annually involving tissue and cell technologies will increase as new treatments are introduced and existing treatments are improved. In addition, Vitrolife expects that the regulation surrounding approval processes and quality control for its products will increase. Vitrolife aims to create competitive advantages from this regulation by meeting and exceeding expected future demands of regulatory authorities, ahead of the Company's competitors. Since it commenced its operations in 1993, Vitrolife has expanded rapidly. The Company currently has over 90 employees and sells its products in over 80 countries. During the latest five-year period, sales have increased by an average of 33 percent and totalled more than SEK 82 million for the fiscal year 2000. The Vitrolife share is listed on the Stockholm Exchange (Stockholmsbörsen) O-list under the ticker VITR. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/09/12/20010912BIT00760/bit0002.doc http://www.waymaker.net/bitonline/2001/09/12/20010912BIT00760/bit0002.pdf