Storage volumes up 5% with strong growth in combined cord storage.
Cryo-Save Group N.V. (AIM/Euronext: CRYO, or ’the Group’), Europe’s leading stem cell bank, announces its trading update for the three months to 31 March 2010.
Highlights for the period were:
• The number of new customers who stored stem cells from the umbilical cord blood and cord tissue in Q1 2010 was 6,600, up 5% (Q1 2009: 6,300). The total number of samples stored was approximately 128,800 at 31 March 2010;
• Over 30% of these new customers opted for the new combined service of storing stem cells from the umbilical cord blood (haematopoietic stem cells) as well as the cord tissue (containing mesenchymal stem cells);
• Cryo-Save increased its shareholding of Sejtbank, Hungary and Cryo-Save Czech Republic from 70% to 100%, for a total consideration of €1.4 million;
• Cryo-Save began participation in project Hyperlab, a stem cell research project which is subsidized by the European Commission, in cooperation with several well known research institutes (http://www.hyperlab.eu/partners.php);
• Cryo-Lip®: In the first quarter of 2010 Cryo-Save signed contracts with some of the top plastic surgery clinics in Europe for the introduction of the new Cryo-Lip® service. Cryo-Lip® enables adults, who have already chosen to have liposuction, to store the stem cells collected from the fat. Cryo-Lip® will be introduced in a number of countries in the second quarter of 2010.
Highlights after 31 March 2010 were:
• Cryo-Save acted quickly to minimize the transport disruption caused by the volcanic ash cloud by temporarily using road transport throughout Europe. Almost all samples were received in time, in compliance with Cryo-Save’s standards, at its facilities for processing and storage. To handle all samples with the greatest care, the facilities were open 24 hours 7 days a week.
• As previously announced Arnoud van Tulder took over as Chief Executive on 1 May 2010. Prior to this he was Group CFO. He succeeded co-founder Marc Waeterschoot who will remain an Executive Director and member of the Board. As of 1 June, Mr Perry Buuron is appointed as finance director (non-statutory).