Cytori Therapeutics Inc. – a leading US cell therapy company – is establishing its European HQ on Deeside Enterprise Zone which marks the first significant investment in the UK by a US stem cell company.
The NASDAQ listed company is head quartered in San Diego and develops novel cell therapy treatments primarily for cardiovascular disease as well as for a range of soft tissue injuries including thermal burns.
Cytori’s Celution® System is a sophisticated, automated medical device that can extract and collect regenerative cells from adipose (fatty) tissue during a surgical procedure that are then available for re-implantation into the same patient within approximately an hour.
Cytori’s investment on Deeside will effectively complement its San Diego manufacturing capabilities and consolidate operations by relocating its current European HQ from Switzerland. The Welsh Government is offering up to £450,000 business finance, which will support up to 30 jobs over a period of time as demand for Cytori’s products increases. Cytori Therapeutics is also benefiting from the Enterprise Zone business rates relief initiative.
The news has been warmly welcomed by Economy Minister Edwina Hart who said: “I am delighted to welcome Cytori to Wales where they will establish their European HQ. This is another significant boost for the life science sector in Wales and builds on the growing expertise within Wales in cell therapy and regenerative medicine.
“Combined with the impending relocation of ReNeuron to Pencoed, it means that two of the leading global regenerative medicine companies are represented in Wales.
“It sends out a clear and positive message that Wales offers significant and proven investment opportunities in what is one of our key sectors. It illustrates that our strategy to grow the life sciences sector is working and having a significant impact. Equally it shows the important role that our Enterprise Zones can play in attracting high technology companies to Wales.”
Dr. Doug Arm, Cytori’s Sr. VP of Operations, said:” We are delighted to have found an ideal location to set up our manufacturing HQ. We had initially considered establishing a smaller operation in the UK and had looked at a number of potential locations.
“However, support from the Welsh Government, the good engineering and life sciences skills base, the benefits of locating on Deeside Enterprise Zone and its good logistical connections and proximity to Manchester Airport were the key factors in our decision to consolidate our manufacturing operations to Wales.
“In addition, the growth of the sector in Wales, particularly the decision by ReNeuron to locate to Wales, encouraged us to make a more substantial investment for the primary manufacture of our systems, and over time expand our operations to other functional areas in Wales.”
The company has invested more than $200m in research, product development and clinical trials over the past decade. Cytori’s CE-Marked Celution® Systems have global patent protection and are registered as a medical device in Europe.
The systems are sold to research customers developing new therapeutic applications for Cytori Cell Therapy in Europe, Japan and other regions. One partner, Lorem Vascular, has exclusive rights to commercialise the Cytori Cell Therapy System in China, Hong Kong, Malaysia, Singapore and Australia, initially for the cardiovascular, renal and diabetes markets.
Systems for all these markets will be manufactured in Wales.
Cytori also has a particular focus on wound healing and is keen to further discussions with the Welsh Wound Innovation Centre about potential future collaborative opportunities in Wales.
ReNeuron, a pioneering stem cell regenerative therapy company, announced last year it is to relocate to Wales as part of a £33m investment.