MADISON, Wis., Jan. 8, 2014 (GLOBE NEWSWIRE) -- Cellular Dynamics International (CDI) (Nasdaq:ICEL) today announced signing a long-term supply agreement with the Nestlé Institute of Health Sciences SA (NIHS). Terms of the agreement were not disclosed.
CDI's iCell® product line includes cardiomyocytes, neurons, hepatocytes, and endothelial cells, with numerous other cell types in development. The company's MyCell® Products are cell products manufactured from donor samples using iPSC technology to make stem cells or differentiated cells from any individual, including those with diseases of interest.
"The ongoing work and this long-term supply agreement with NIHS demonstrate the utility and broad applicability of our iCell and MyCell Products," said Bob Palay, chief executive officer of CDI. "Our customers already benefit from a reliable supply of human iPSCs and human differentiated cells for their biomedical research and drug discovery. This supply agreement with NIHS adds nutritional research as yet another field that will benefit from CDI's products and expertise."
About Cellular Dynamics International, Inc.
Cellular Dynamics International, Inc. (CDI) is a leading developer of stem cell technologies for in vitro drug development, stem cell banking and in vivo cellular therapeutic research. CDI harnesses its unique manufacturing technology to produce differentiated tissue cells in industrial quality, quantity and purity from any individual's induced pluripotent stem cell line created from a standard blood draw. CDI was founded in 2004 by Dr. James Thomson, a pioneer in human pluripotent stem cell research at the University of Wisconsin-Madison. CDI's facilities are located in Madison, Wisconsin, with a second facility in Novato, California. See www.cellulardynamics.com.
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This press release includes "forward-looking statements," including with respect to the proposed initial public offering and the Company's intended use of proceeds. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company's control. The forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "plan," "seek," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
CONTACT: MEDIA CONTACTS: Joleen Rau Senior Director, Marketing & Communications Cellular Dynamics International, Inc. (608) 310-5142 firstname.lastname@example.org Robert E. Flamm, Ph.D. Russo Partners LLC (212) 845-4226 email@example.com Investor Relations Gitanjali Jain Ogawa The Trout Group, LLC (646) 378-2949 firstname.lastname@example.orgSource:Cellular Dynamics International, Inc.