Contract & Update on France

 

TIDMCRYO 
 
RNS Number : 7504M 
Cryo-Save Group NV 
28 May 2010 
 

28 May 2010 
 
Cryo-Save Group N.V. 
 
Contract signed with Spanish insurance company Mutua Madrilena; update on France 
 
Cryo-Save Group N.V. (AIM/Euronext: CRYO, 'Cryo-Save' or 'the Group'), Europe's 
leading stem cell bank, announces the signing of the contract with Aresa Seguros 
de Salud, the health insurance company of the Spanish Mutua Madrileña Insurance 
Group. 
 
Mutua Madrileña, through Aresa, will offer its clients very beneficial 
conditions (reimbursement of EUR550 and in terms of storage time) for using 
Cryo-Save cryopreservation services related to stem cells from umbilical cord 
blood. 
 
Thanks to this partnership with Mutua Madrileña, one of the leading insurance 
companies in Spain with more than 1.8 million clients, many more Spanish parents 
will have easy access to the benefits of cryopreservation of stem cells of their 
newborns. 
 
Mr. Joaquim Lopez, Director of Aresa, states that: 
 
"This agreement is a further step in our strategy and commitment to provide our 
clients with the latest medical developments and services through the Leading 
Stem Cell Bank in Europe". 
 
Cryo-Save France SAS is preparing its response to Agence Française de Sécurité 
Sanitaire des Produits de Santé (Afssaps) after it has been informed that the 
authorisation for processing and storage of stem cells from the umbilical cord 
blood in France has been refused. Cryo-Save's quality control processes and 
state-of-the-art storage facilities, licensed and compliant with the respective 
EU directives, guarantee its clients a strict safety profile and the highest 
quality. Afssaps did not mention any quality related issues, but referred to 
legal restrictions in the French law related to stem cell storage and donation. 
 
Arnoud van Tulder, Chief Executive Officer of the Cryo-Save Group said: 
 
"The parents in France who opt for the storage of stem cells of their newborns 
remain our priority.  We are confident that Afssaps will ultimately align its 
stem cell guidelines with those of the other EU countries. We expect the 
business impact will be temporary, however we will update the market if this 
expectation changes." 
 
 
Enquiries: 
 
+-------------------------------------+---------------------+ 
| Cryo-Save Group                     | +  31 (0)575 548998 | 
+-------------------------------------+---------------------+ 
| Arnoud van Tulder, Chief Executive  |                     | 
| Officer                             |                     | 
+-------------------------------------+---------------------+ 
| Marc Waeterschoot, Executive        |                     | 
| Director                            |                     | 
+-------------------------------------+---------------------+ 
| Daniel Stewart & Company plc        |     + 44 (0)20 7776 | 
|                                     |                6550 | 
+-------------------------------------+---------------------+ 
| Simon Leathers/Emma Earl            |                     | 
+-------------------------------------+---------------------+ 
|                                     |                     | 
+-------------------------------------+---------------------+ 
 
+-------------------------------------+---------------------+ 
| College Hill (UK)                   |     + 44 (0)20 7457 | 
|                                     |                2020 | 
+-------------------------------------+---------------------+ 
| Adrian Duffield/Rozi Morris         |                     | 
+-------------------------------------+---------------------+ 
|                                     |                     | 
+-------------------------------------+---------------------+ 
| SPJ Financiële Communicatie         |  [phone] | 
| Amstelveen (NL)                     |                     | 
+-------------------------------------+---------------------+ 
| Kees Jongsma/Léon Melens            |                     | 
+-------------------------------------+---------------------+ 
 
About Cryo-Save 
 
With more than 130,000 samples saved, Cryo-Save is the leading stem cell bank in 
Europe and one of the fastest growing in the world. Driven by its international 
business strategy, Cryo-Save is now represented in 38 countries on three 
continents and has state-of-the-art processing facilities in Belgium, Germany, 
the Netherlands, Dubai, India and France (under construction). 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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