Cytori Therapeutics Closes Previously Announced $10 Million Financing

(PresseBox) ( San Diego, )
Cytori Therapeutics, Inc. (NASDAQ:CYTX) closed and received net proceeds from the definitive agreements the Company entered into on March 10, 2009 to raise $10 million, before placement agent fees and offering expenses. Cytori offered the securities in this transaction pursuant to an effective shelf registration statement.

The funds will be used for sales and marketing activities related to the commercialization of the Celution(R) System and consumables as well as other related and complementary products, for ongoing clinical studies of the Celution(R) System for breast reconstruction and cardiovascular disease, for ongoing research and development to support the Company's products and its pipeline development, and for general working capital.

Prior to the closing of this financing, as described in Cytori's Form-10K filed with the Securities and Exchange Commission on March 6, 2009, the Company's auditors issued an audit opinion that includes a matter of emphasis paragraph relating to the Company's ability to continue as a going concern. Due to the closing of the financing subsequent to the issuance of the auditor's opinion, Cytori has substantially improved its cash position, which the Company believes may fund its operations through at least 2009 as described in the liquidity and capital resources discussion of its Form-10K.

The offering was made only by means of a prospectus. Copies of the final prospectus supplement and accompanying base prospectus relating to the offering can be obtained from Cytori's Investor Relations Department at 3020 Callan Rd., San Diego, CA 92121, or from the U.S. Securities and Exchange Commission's website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
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