Cryo-Cell International announced that the cmpany has executed an exclusive agreement to license Cryo-Cell's signature U-Cord and proprietary Celle stem cell services in Costa Rica beginning this summer. The exclusive license agreement with Stem Cells Costa Rica will provide Cryo-Cell with an upfront license fee in addition to future fees associated with the processing and annual storage of U-Cord and Celle products.
"We are very pleased to welcome Stem Cells Costa Rica to Cryo-Cell's vast and fast-growing network of global license affiliates," stated Mercedes A. Walton, Chairman and Chief Executive Officer. "With our new partner in Costa Rica, Cryo-Cell's footprint in Latin America will span sixteen markets. We anticipate that the Company's strong global brand and well-established reputation for superior quality may significantly advance Cryo-Cell's strategic presence in the region."
Stem Cells Costa Rica is a privately held company with headquarters in the capital city of San Jose. Dr. Adriana Sánchez, MD, is a principal of the newly established company. Stem Cells Costa Rica expects to utilize their expansive professional network of medical practitioners, private and public institutions throughout the country to educate consumers on the potential benefits of cryopreserving stem cells harvested from umbilical cord blood and menstrual fluid.
"Cryo-Cell is well recognized as a global industry leader in stem cell innovation with superior quality products and services," stated Dr. Adriana Sánchez, MD. "We believe that stem cell technology has demonstrated the proven potential to save lives. Stem Cells Costa Rica is very proud and excited to become Cryo-Cell's exclusive license partner to introduce highly differentiated and competitively priced services throughout the country of Costa Rica."
Source: Cryo-Cell International, Inc.