Cryopharm Corp. and COBE BCT Inc. announced that they haveentered into an exclusive agreement to develop andcommercialize a line of cryopreservation fluids for the long-term storage of clinically vital human blood cells. Under theterms of the agreement, Lakewood, Colo.-based COBE willacquire the worldwide rights to Cryopharm's proprietary cellcryopreservation technology. Cryopharm of Pasadena, Calif.,and COBE will co-develop, and COBE will market, three productlines involving Cryopharm's novel platelet freezing solutions:one to store frozen platelets critical to the clotting process;another to freeze red blood cells; and a third to freeze bonemarrow and peripheral blood stem cells, the precursors to allblood cells, including white blood cells of the immune system.
COBE, a subsidiary of Sweden's Gambro Group(NASDAQ:GAMBY), is a developer and manufacturer of blood-cell separation (apheresis) systems. It will provide up to $4.6million as an up-front payment and for research supportthrough 1994. COBE will also pay a royalty on all sales ofdeveloped cryopreservation products and provide significantregulatory, marketing and sales support.
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