CytoMedix, Inc. (CMXI) Announces Agreement for Distribution of AutoloGel System
CytoMedix, Inc. is a developer of biologically active regenerative therapies for wound care, inflammation and angiogenesis. The company markets several products including the Angel Whole Blood Separation System and the AutoloGel system, a device for the production of autologous platelet-rich plasma gel for use on chronic wounds. The company announced today the execution of a letter of agreement granting an undisclosed global pharmaceutical company an exclusivity period until December 31, 2011 to conduct further due diligence regarding its AutoloGel system. In exchange, Cytomedix will receive a $2 million non-refundable option fee. CytoMedix and the pharmaceutical company are also negotiating an…