03 September 2014
Cytori Therapeutics Inc. – a leading US cell therapy company – is establishing its European HQ on Deeside Enterprise Zone, North Wales which marks the first significant investment in the UK by a US stem cell company.
The NASDAQ listed company is head quartered in San Diego and develops novel cell therapy treatments primarily for cardiovascular disease as well as for a range of soft tissue injuries including thermal burns.
Cytori’s Celution® System is a sophisticated, automated medical device that can extract and collect regenerative cells from adipose (fatty) tissue during a surgical procedure that are then available for re-implantation into the same patient within approximately an hour.
Cytori’s investment on Deeside will effectively complement its San Diego manufacturing capabilities and consolidate operations by relocating its current European HQ from Switzerland. The Welsh Government is offering up to £450,000 business finance, which will support up to 30 jobs over a period of time as demand for Cytori’s products increases. Cytori Therapeutics is also benefiting from the Enterprise Zone business rates relief initiative.