Cryo-Cell International, Inc. (OTCBB:CCEL) (the "Company"), one of the world's largest and most established family cord blood banks and global stem cell innovators, today announced plans at the annual meeting of the American Society of Reproductive Medicine (ASRM) to launch Cryology RTS®, a new reproductive tissue storage service for cryopreserved embryos, oocyctes and sperm. Cryology RTS is expected to offer high quality and competitively priced reproductive tissue services that will include short and longer-term cryogenic storage; inter-facility transportation coordination; and special quarantined cryogenic storage for infectious disease positive specimens. Following the successful launch of the new service in the United States, Cryo-Cell expects to introduce the Cryology RTS service throughout the Company's expansive global affiliate network.
Assisted reproductive technologies (ART), including In vitro fertilization (IVF), have enabled millions of people worldwide to produce biological children who otherwise would not have been able to do so. IVF has been used since 1978, resulting in approximately four million births worldwide. Cryopreserved reproductive tissue such as embryos, oocytes and sperm can be stored and maintained in liquid nitrogen vapors at -195º Celsius for indefinite periods of time for possible future utilization. In the U.S. for example, an estimated 500,000 frozen embryos are maintained in cryogenic storage. With approximately 480 fertility clinics and 1400 reproductive medical practitioners, the ART industry in the U.S. alone is estimated to generate over $4 billion in annual revenues.
"Cryo-Cell is very excited to launch Cryology RTS for the reproductive medicine industry and consumers," stated Mercedes A. Walton, Cryo-Cell's Chairman and Chief Executive Officer. "The Company expects to provide IVF clinics and their clients with a uniquely differentiated and competitively priced reproductive tissue storage service. Cryology RTS is exceptionally synergistic with Cryo-Cell's core business and we believe that the new service could provide the Company with a potentially significant source of future revenue."
Today, many IVF clinics providing in-house cryopreservation storage to their clients are faced with multiple operational challenges which include high practice overhead; professional liability exposure; space limitations; and the requirement to maintain high quality and regulatory standards. By utilizing Cryology RTS, clinical practices may potentially gain the freedom to focus exclusively on patient care, without the business and operational distractions associated with in-house reproductive tissue storage. As an additional benefit for IVF clinics that outsource their reproductive tissue storage to Cryology RTS, the Company will offer an industry exclusive IVF clinical service reimbursement fee, in recognition of the significant responsibility and practice costs related to the proper preparation of a client specimen for transfer to the cryogenic storage facility.
Cryology RTS intends to assure clients of enhanced security and significant single-source savings for their family's current and future biological tissue cryogenic storage needs. Cryology RTS clients will be eligible to purchase any Cryo-Cell service at discounted returning client pricing, including the Company's signature U-Cord® umbilical cord blood stem cell preservation service; CelleSM menstrual stem cell service; and Protect Baby, Protect MomSM, the premium healthcare bundle. Cryology RTS is also expected to assist clients with the facilitation of future possibilities available for their cryopreserved specimens, including donation for research, anonymous or direct donation. The new service is expected to be generally available in early 2011.
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