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TOPIC: Bill Busa discussion at LinkedIn

Bill Busa discussion at LinkedIn 07 Nov 2013 10:46 #1041

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At LinkedIn the boards are for members only, but I believe its very easy to join them- so for the ambition regen investors (WST also joined a few months ago). A financial consultant with great "drug" expertise but clue less on devices and Cytori started this discussion which I presume will be of interest for readers here too:

Mystery Surrounds Cytori's New Asian Partner in Potential $500M Deal
We're on the trail of Lorem Vascular, which Cytori announced today has exclusively licensed Cytori's Celution system for numerous indications in the Asian market. Lorem's one-page web site is uninformative, and its domain name was registered just two weeks ago from El Cajon CA. Cytori's press release mentions an otherwise unidentified K.T. Lim of Lorem Vascular, who will join Cytori's board. Same or different than the chairman of Malaysia's Genting Berhad gambling conglomerate? As we research this for an in-depth report I will welcome any tips anyone cares to pass our way.

Link to article - BUSA article
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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

Bill Busa discussion at LinkedIn 07 Nov 2013 11:01 #1042

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The discussion went:

Me: Good luck with your research. I think its a waste of time, since Cytori will come out with more information, when they think that is appropriate. A tip of a friend of mine- Malaysian born Real Estate mogul from Aussieland- K.T. Lim. www.vicinvest.com/companyProfile.htm
All I have heard is- "Mr. Lim has been vetted and has significant resources"
That is good enough for me at this stage of the "game".

Busa: What's interesting, Fas, is that Lorem bears all the signs of a 'virtual' company (AKA, a non-entity): 'Lorem' pretty clearly references "lorem ipsum"...placeholder text with no meaning. Lorem's domain name was registered two weeks ago by Cytori's creative director. It just seems too cute by half, which in turn suggests something, I think, about Cytori's view of this affair.

Busa after getting Feurstein article link: Thanks for the link, Alexey. Ever the skeptic, Adam Feuerstein has done some fine reporting work regarding stem cell shenanigans, and what he outlines in that article confirms what Fas and I have been saying here, so I feel confident that a picture of the situation is beginning to emerge (no thanks to Cytori). What it would appear to come down to is that Cytori has found itself a $14 million investor from the real estate world who, in return, wanted a seat on the Board and an exclusive license for Celution in Asia. Perhaps wisely, Cytori decided to spin this for all it was worth by making sure there was something like a web site and something like a company propped up shortly in advance of the news. In a sense it worked...certainly some folks made some serious money yesterday on CYTX's (likely short-lived) pop. In the big-picture view, however, the jury is still very much out: will this new Cytori strategy of embracing unregulated practice-of-medical-tourism pay off in terms of real people being successfully treated for real diseases?

Me: Bill- let me just state a few things, where I think you are right and where I think you are quite wrong. First though- the wisdom or better strategic competence of Cytori management has been rather poor in the past 7 years or so. Cytori declared itself a commercial Company, which they are not. They supply systems to researchers who need clinical grade cells to conduct serious science driven studies on the use of ADRCs in a broad spectrum of applications. The peer reviewed papers are now coming out of the funnel proving that. Those studies are also the basis of regulatory DEVICE approvals in the territories involved. What has been lousy in Cytori IR is exactly stating the scope of the approvals. A device approval for soft tissue is something completely different than for general surgery or delivery into the blood stream in most regulatory systems across the globe..Therefore stating that Cytori pursues "medical practice" medical tourism is totally out of wack. You might also consider that some regulatory agencies have more "vision" and sense for reality as the FDA and clinicaltrials.gov which you appear to heavily rely on.
Anyway- the Feuerstein story is mainly correct in my eyes, but what is the big deal? Calhoun needed to be "rescued" with a partner deal and apparently Lim and him have been talking a long time just like Calhoun has been talking to plenty other folks/pharma companies. Lim is as a business person very successful - can hire competent folks and shares the vision of Cytori management. The approvals upcoming are -also in my opinion just around the corner and will be based on solid scientific evidence supplied by the translational effort which is HUGE- but largely unknown or better poorly communicated, like a lot of things at Cytori..

Tom Baker joined in: Bill, We appreciate all your contributions to the board as you bring valuable insight and ask a lot of great questions. With regard to our partnership, it's no mystery that this is a newly formed company. I do find humor in the interest people have had in the website, which is such a relevant topic in US political discussions. But I digress. As with most successful entrepreneurs, they share a common trait of surrounding themselves with skilled individuals and advisers. Mr Lim is such an understated entrepreneur and we look forward to having someone with his track record and relationships in the region forming a company dedicated to our technology. In the meantime, the equity agreement brings in a committed long-term shareholder and allows us to continue investing in our US clinical development. Given we have not spoken in person or electronically, we would love to share with you more about who we are as a company. We're open to calls or visits in person. On behalf of our 100+ employees, we've all consciously decided to be a part of something that is bigger than a day or two of volatility in the stock market, not for the feint of heart, and in something we sincerely believe will help patients, albeit with a counter-conventional business path. Regards, Tom (Cell: 858.232.7234)
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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:
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