SAN DIEGO, Feb. 15, 2017 (GLOBE NEWSWIRE) -- Cytori Therapeutics, Inc. (CYTX) today announced it has completed its acquisition of assets of privately held Azaya Therapeutics, Inc., a leader in the research, development and manufacturing of nanoparticle therapeutics (the “Acquisition”). The Acquisition provides Cytori with a proprietary liposomal nanoparticle technology platform that is intended to complement Cytori’s leadership position in regenerative medicine and expand its pipeline with two promising nanoparticle oncology drugs.
“This acquisition is a very important step in the development of Cytori,” said Dr. Marc Hedrick, President and Chief Executive Officer of Cytori. “The Acquisition provides Cytori both a near term opportunity to seek regulatory approval in Europe for the acquired ATI-0918 drug candidate, a generic form of nanoparticle encapsulated doxorubicin, with the goal of launching it in Europe as early as 2019, and bolsters Cytori’s early and intermediate stage pipeline with new drug candidates in regenerative medicine and oncology”.
Cytori plans to develop nanoparticle-based therapeutics under the name Cytori Nanomedicine™ in the areas of oncology and regenerative medicine. In addition to ATI-0918, the generic nanoparticle encapsulated doxorubicin, Cytori has added the clinical stage ATI-1123 drug candidate, a protein-stabilized nanoparticle formulation of docetaxel and a preclinical stage regenerative medicine drug candidate for scleroderma.