ARTICLE | Company News

Cytori gene/cell therapy, musculoskeletal news

October 6, 2014 7:00 AM UTC

Cytori will reduce headcount to about 77 from "a peak of 119 earlier this year" and will focus on its U.S. clinical pipeline and government and corporate partnerships. Clyde Shores has resigned as EVP of marketing and sales. Cytori expects the moves to save more than $8 million annually. At June 30, Cytori had $12.8 million in cash and a six-month operating loss of $20.2 million.

Cytori said it received conditional IDE approval from FDA to begin a U.S. trial of adipose-derived stem and regenerative cells (ADRCs) to treat osteoarthritis (OA). In light of the approval, the company said it is assessing the merits of continuing its U.S. Phase II RECOVER trial of ADRCs to treat acute muscle tears. The company's ADRCs are processed by its Celution One System, a device used to process and purify adult stem and regenerative cells from adipose tissue. ...