Cryo-Cell International Announces Changes To Its Board of Directors
21 Settembre 2021 - 12:05AM
Cryo-Cell International, Inc. (Nasdaq:CCEL), the leader in cord
blood and cord tissue cryopreservation services, announces the
appointment of Mr. Mark Portnoy and Mr. Daniel Mizrahi to the
Company’s Board of Directors, replacing Mr. George Gaines and
Jonathan Wheeler, M.D., who have resigned in their capacity as
Directors. Mr. Gaines has chosen to retire while Dr. Wheeler has
resigned for health reasons.
The Board of Directors voted unanimously in
favor of adding Mr. Mark Portnoy and Mr. Daniel Mizrahi as members
of the Board. Mr. Portnoy is a Co-CEO of the Company and previously
served as a member of the Board of Directors from 2011-2020. Mr.
Mizrahi currently serves as the Chief Executive Officer of Power
Tech, S.A. Power Tech is a leading manufacturer and distributor in
Guatemala of more than 2,500 items, including medical products,
ladies’ personal care products, and hardware tools to over 3,000
retail stores.
The Company would like to thank Mr. Gaines and
Dr. Wheeler for over ten years of valuable and dedicated service as
Directors of the Company and wishes both of them all the best in
their future endeavors.
“It has been gratifying and rewarding being part
of Cryo-Cell’s transformation over the last ten years, The recent
NASDAQ uplisting positions the company well to continue to execute
on initiatives to drive even more value for shareholders,” said Mr.
Gaines.
“It has truly been an honor serving on the Board
of Directors at Cryo-Cell these past ten years. This year has
marked a significant transition of the company, due to the license
agreement with Duke University and the recent uplisting to NASDAQ.
The progress made and the opportunities forthcoming represent the
hard work of our leadership along with the important role Cryo-Cell
maintains in the cord blood and tissue industry,” said Dr.
Wheeler.
About Cryo-Cell International,
Inc.
Founded in 1989, Cryo-Cell International, Inc.
is the world’s first private cord blood bank. More than 500,000
parents from 87 countries have entrusted Cryo-Cell International
with their baby’s cord blood and cord tissue stem cells. In
addition to its private bank, Cryo-Cell International has a public
banking program in partnership with Duke University. Cryo-Cell’s
public bank has provided cord blood for more than 600
transplantations and operates cord blood donation sites across the
U.S in prominent hospitals such as Cedars–Sinai Hospital in Los
Angeles and Baptist Hospital in Miami. Cryo-Cell’s facility is FDA
registered, cGMP-/cGTP-compliant and licensed in all states
requiring licensure. Besides being AABB accredited as a cord blood
facility, Cryo-Cell was also the first U.S. (for private use only)
cord blood bank to receive FACT accreditation for adhering to the
most stringent cord blood quality standards set by any
internationally recognized, independent accrediting organization.
Cryo-Cell owns the exclusive rights to PrepaCyte-CB, the
industry’s most advanced cord blood processing technology.
Cryo-Cell’s mission has been to provide clients
with state-of-the-art cord blood and cord tissue cryopreservation
services, raise awareness of the opportunity for expectant parents
to bank or donate their baby’s cord blood and support the
advancement of regenerative medicine. In February 2021, Cryo-Cell
entered into a license agreement with Duke University that
transformed Cryo-Cell into an autonomous, vertically integrated
cellular therapy company that will be able to treat patients.
For more information, please
visit IR.cryo-cell.com
Forward-Looking Statement
Statements herein the terms “believes”,
“intends”, “projects”, “anticipates”, “expects”, and similar
expressions as used are intended to reflect “forward-looking
statements” of the Company. The information contained herein is
subject to various risks, uncertainties and other factors that
could cause actual results to differ materially from the results
anticipated in such forward-looking statements or paragraphs, many
of which are outside the control of the Company. These
uncertainties and other factors include the impact of the COVID-19
pandemic on our sales, operations and supply chain, the success of
the Company’s global expansion initiatives and product
diversification, the Company’s actual future ownership stake in
future therapies emerging from its collaborative research
partnerships, the success related to its IP portfolio, the
Company’s future competitive position in stem cell innovation,
future success of its core business and the competitive impact of
public cord blood banking on the Company’s business, the success of
the Company’s initiative to expand its core business units to
include biopharmaceutical manufacturing and operating clinics, the
uncertainty of profitability from its biopharmaceutical
manufacturing and operating clinics, the Company’s ability to
minimize future costs to the Company related to R&D initiatives
and collaborations and the success of such initiatives and
collaborations, the success and enforceability of the Company’s
umbilical cord blood and cord tissue license agreements, together
with the associated intellectual property and their ability to
provide the Company with royalty fees, and those risks and
uncertainties contained in risk factors described in documents the
Company files from time to time with the Securities and Exchange
Commission, including the most recent Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q and any Current Reports on Form 8-K
filed by the Company. The Company disclaims any obligations to
subsequently revise any forward-looking statements to reflect
events or circumstances after the date of such statements.
For more information, please contact:Corporate
Communications / Investor RelationsDiane Glanz, Rph, PharmD.
Telephone: +1 (813) 749-2195Email: Investors@Cryo-Cell.com
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