Partnerships, Financing, deals

Cytori Expands GE Partnership; Raises More Cash

Bruce V. Bigelow 5/8/09

San Diego’s Cytori Therapeutics (NASDAQ: CYTX) said today it has expanded its partnership agreement with GE Healthcare, a unit of General Electric, in which GE Healthcare will commercialize Cytori’s proprietary stem cell technology in North America. No financial terms were disclosed. Under a previous deal in January, GE agreed to commercialize Cytori’s products in ten European countries. In a separate announcement yesterday, Cytori said it reached an agreement to raise $4.2 million through a private investment in a public entity. The company, specializes in cosmetic stem cell technologies.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call 858-202-0492