CRYO SAVE GROUP : Esperite N.V. établit sa stratégie d'expansion et de croissance innovante avec un EBITDA déjà positif.

La mise en place des trois premières Business Units a commencé. La filiale Genoma va conduire le Groupe à un niveau supérieur avant la fin de l'année.

Esperite NV (Euronext .: ESP, « Esperite » ou « le Groupe »), leader européen dans le traitement et la cryo-conservation de cellules souches, nouvel entrant dans la médecine prédictive et la recherche en médecine régénérative, a publié ses résultats financiers pour les six mois qui ont pris fin le 30 juin 2014.

Au premier semestre 2014 le revenu net a diminué à €13,5 millions ((1^er semestre 2013: €15,5 millions), mais les dépenses opérationnelles avant dépréciation et amortissement étaient de €8,4 millions (1^er semestre 2013: €9,3 millions). Malgré la diminution du revenu brut par rapport au 1^er semestre 2013 (- 6,4%), la marge brute s'est améliorée de 4,6%. L'EBITDA du premier semestre 2014 est positif à €0,3 million (1^er semestre 2013: - €0.1 M ). L'EBIT au 1^er semestre est de -€1.2 millions (1^er semestre 2013: - €2,2 millions).

Ceci est le résultat des mesures de réduction de coûts qui ont été introduites en 2013 ainsi que des améliorations significatives dans les pratiques opérationnelles, le développement de nouveaux produits, l'ouverture de nouveaux territoires et la réalisation de synergies dans de nombreux domaines suite à l'acquisition du laboratoire de biotechnologie Salveo et des activités connexes. Ces synergies devraient avoir plus d'impact positif sur les résultats au cours de la 2e moitié de l'année.

Au cours de la première moitié de 2014, le groupe a connu une réorganisation majeure. Trois Business Units distinctes ont été créées afin de structurer le recentrage des activités.

Le groupe a été rebaptisé Esperite et a obtenu une deuxième cotation à Euronext Paris afin de renforcer sa position dans le secteur des sciences de la vie.

Sous le leadership fort de Frédéric Amar, une stratégie innovante de croissance et d'expansion a été mise en oeuvre, ainsi qu'une diversification des activités du Groupe au-delà de ses activités historiques, en médecine prédictive (protéomique et génomique) et dans le domaine de la recherche en médecine régénérative.

CryoSave: Leader européen dans le traitement de cellules souches et première banque de cryo-conservation d'Europe, le Groupe a soutenu son activité historique dans le marché du sang de cordon et du tissu de cordon ombilical malgré les fortes pressions du secteur.  Au cours de l'année précédente et jusqu'au premier trimestre 2014, l'activité se maintenait sur une courbe décroissante. Le second trimestre 2014, Q2 2014, sous l'action de changements majeurs dans le management et l'organisation laisse présager de meilleures perspectives et une croissance positive tant pour le rythme d'acquisition des nouveaux clients que pour le chiffre d'affaires.

Genoma: Le nouveau portefeuille de produits comprendra initialement des tests innovants basés sur le séquençage génomique : « Tranquility », un test prénatal non invasif (NIPT) et la protéomique: « Verity », un test de détection de troubles métaboliques, ainsi que « Omega test », un test de dosage des oméga-3. Le groupe travaille déjà sur le développement d'autres technologies exclusives en collaboration avec les leaders du marché dans ces domaines.

The Cell Factory : le savoir-faire de Esperite place « The Cell Factory », sa division R & D, au coeur de la chaîne de valeur, entre la collecte et le stockage des cellules souches et les traitements actuels et futurs qui se développent dans le domaine de la médecine régénérative. Esperite, principalement axée sur les traitements autologues, jouera un rôle clé dans la recherche pour le développement de nouveaux traitements médicaux, en partenariat avec les centres de recherche, les universités publiques et les partenaires privés.

Frédéric Amar, CEO, a déclaré:
«Nous sommes heureux d'annoncer une tendance positive déjà visible dans le deuxième semestre. Le premier semestre a été très sensible à la performance de l'ensemble du marché du sang de cordon et du tissu du cordon ombilical. À l'heure actuelle, les priorités de la société sont un retour à une rentabilité plus régulière et une meilleure rentabilité des capitaux investis. Nous sommes pleinement engagés dans la mise en oeuvre de plans ciblés sur l'amélioration de la marge brute et sur la croissance des bénéfices. Il s'agit d'un processus global qui sera axé sur l'amélioration de la performance commerciale des activités internationales de Cryo-Save et de la nouvelle Business Unit Genoma, sur le renforcement de notre relation avec les partenaires, afin de mieux tirer parti de notre structure globale et de réaffecter les capitaux sur les marchés et les activités prioritaires. »

Financial highlights

• Revenue: €13.5 million (1 HY 2013^{[1]:
  #_ftn1}: €15.5 million)
• Underlying^* operating expenses  before depreciation, amortisation and impairments: €8.4 million (1 HY 2013: €9.3 million).
• EBITDA^**: €0.3 million (1 HY 2013: -€0.1 million)
• Underlying EBITDA: €0.5 million (1 HY 2013: €0.3 million)
• EBITA^***: -€0.4 million (1 HY 2013: -€1.5 million)
• Underlying EBITA: -€0.2 million (1 HY 2013 -€0.5 million)
• Operating result: -€1.2 million (1 HY 2013: -€2.2 million) 
• Underlying operating result: -€1.0 million (1 HY 2013: -€1.2 million)
• Result before taxation: -€1.3 million (1 HY 2013: -€2.4 million)
• Underlying result before taxation: -€1.1 million (1HY 2013: -€1.5 million)
• Net result: -€1.1 million (1 HY 2013: -€2.5 million)
• Basic earnings per share -0.114 € (1 HY 2013: -0.271 €)
• Net cash from operating activities -€2.3 million (1 HY 2013: -€1.1 million)
• Cash position of €3.8 million as at 30 June 2014

             
^* Underlying results excludes non-recurring restructuring expenses and impairment loss
^** EBITDA is defined as Earnings Before Interest, Taxation, Depreciation, Amortization and impairments
^*** EBITA is defined as Earnings Before Interest, Taxation and Amortization of identified intangible assets

Operational highlights

• 12,300 new samples stored in 1 HY 2014 (1 HY 2013: 15,200). Of these, 7,600 were new cord blood samples and 4,700 new cord tissue samples
• Over 268,000 samples stored in total
• 69% of new customers opt for combined service of cord blood and cord tissue storage
• Name change to Esperite NV.
• Creation of 3 distinct business units, operating as separate brands and businesses
  • Cryo-Save is continuing the Group's cord blood and tissue cryo-preservation activities
  • The Cell Factory is the basis for the Group to expand its current research and development activities with a strong focus on regenerative medicine
  • The Genoma business line will manage the Group's proteomics and genomics predictive medicine activities

             
Other

• The EGM appointed Mr Frédéric Amar as the Groups' Chief Executive Officer as of 14 March of this year.
• Mr. Walter van Pottelberge stepped down and resigned as non-executive board member

             
Outlook

• Esperite owns Cryo-Save, the market-leading international stem cell processing and cryo-conservation company and the largest stem cell bank in Europe with a sustainable high market share.
• During 2014 the company will further expand its activities and fuel growth by entering into the new segments of proteomics and genomics predictive medicine and translational regenerative medicine R&D; for this purpose, three separate and distinct business units have been created: Cryo-Save, The Cell Factory and Genoma. The first new products to be launched by Genoma will be Tranquility, a non-invasive prenatal test (NIPT), Verity, a metabolic disorder test and Omega Test, an omega-3 test.
• Esperite continues to ensure a promising future by
  • Entering new markets with enormous potential, thus developing the company to become a multi-product and service provider
  • Leveraging the Group's excellent relationships with clinics, hospitals and doctors as a solid basis to become an important promoter of new applications
  • Covering a wide product and service range with applications for a wider range of age groups, thus enlarging the target groups substantially

Operational review

Name change to Esperite
On May 14^th 2014, the company announced its intention to change its name to Esperite N.V. On July 2, 2014 the company's shareholders have approved the change of the company's formal name in support of the companies strategy to become an important predictive and regenerative medicine promoter.

On June 10^th 2014, the company initiated its project of secondary listing in Paris.

Restructuring of activities
The Group has formed 3 distinct business units to support the implementation of its new strategy

Expansion of existing cord blood and cord tissue cryo-preservation activities.
This has been mainly driven by an increase of sales force coverage in various geographies including Spain and Italy, but also by starting activities in new territories. The Group controls a joint venture with CBB Group Sarl, the operator of the Portuguese leading Criobaby stem cell banking activities in order to be active again in Portugal.

Improvement of operational excellence
In May 2014 the Group has acquired the Swiss laboratory-related cord blood and cord tissue processing and storage activities, the regenerative medicine activities and the central commercial and IT functions of Salveo Biotechnology SA. This transaction has provided the Group with additional capacity and facilities in Geneva. It has supported and will continue to support the reallocation of resources and activities and has contributed to increase the level of operational excellence.

Industry overview

Stem Cells Cryo-preservation overview

Research and development of stem cells and stem cell derived products has been pursued further, with the aim to enable establishment of various clinically applied therapeutic protocols.

There are currently over 220* clinical trials still recruiting patients in which umbilical cord blood is to be used. Over 25+ clinical trials are recruiting patients for autologous umbilical cord blood stem cell transplantations, where indications include: hematologic malignancies, acquired hearing loss, cardiologic disorders, cerebral palsy and others.

The advent of stem cell therapy has broadened the spectrum of pre-clinical research, as well as clinical trial developments. Besides focusing on haematological disorder, therapeutic protocols using stem cells have moved into fields of regenerative medicine, tissue engineering, cellular therapy as well as stem cell derived product utilisation in therapy.

In these fields Umbilical Cord Blood derived stem cells continue to play a major role, and Umbilical Cord Tissue is gaining traction in the medical field as a result of several positive pre-clinical results which have led to clinical trials of Umbilical Cord Tissue mesenchymal stem cells.

Scientific publications showed the following promising results during the first half of 2014:

• Umbilical cord blood stem cells retain both the stemness and vasculogenic potential after repeated expansions. (September 2014)
   
• Umbilical cord blood derived stem cells show therapeutic potential in stroke. (June 2014)
   
• Umbilical cord blood derived stem cell expansion techniques in development with the aim to improve both cell counts and repopulation (July 2014)
   
• Specific 3D microenvironments enhances the release of neurotrophic factors from umbilical cord blood cells (May 2014)
   
• Wharton's Jelly derived mesenchymal stem cells show osteoblastic differentiation, further opening options for autologous bone tissue engineering. (July 2014)
   
• Umbilical cord tissue derived stem cells demonstrate cardiomyogenic potential. (June 2014)
   
• Umbilical cord tissue derived stem cells show possibility for tissue engineering atrioventricular heart valves. (July 2014)
   
• Successful demonstration of differentiation of mesenchymal stem cells obtained from Wharton's Jelly into cornea epithelial-like cells in a three-dimensional model. (June 2014)

Proteomics and Genomics Predictive Medicine

Genetic testing represents the most rapidly expanding segment of the molecular diagnostics market worldwide. Growing incidence of genetic diseases unravels new opportunities for genetic testing.

The global market forecast for Genetic Testing for prenatal only is expected over US$ 7 billions by 2017. The key driver for growth of the genetic testing market is the increasing knowledge about the potential benefits in genetic testing. Particularly, genetic tests to screen the newborns are expected to expand immensely over the coming years. 

Improvements in the field of genetic testing are expected to aid in tailoring Personalized Medicine for specific targeted markets.

Genetic testing also supports the early diagnosis of diseases like haemophilia, sickle cell anaemia, and cystic fibrosis, facilitating several patients in leading a normal life.

Due to an increasing incidence of cancer cases, genetic testing is expected to register high growth, and would dominate the testing market by 2017. 

Financial review
Revenue
Group revenue decreased by €2.0 million to €13.5 million, largely due to declining volumes in its main markets in Spain, Italy and Hungary. Price increases and enhanced services only partly offset the negative effect of the volume decline.

The number of new cord blood samples stored in the first half of 2014 amounted to 7,600 (1HY 2013: 8,900), whilst the number of new cord tissue samples stored was 4,700 (1HY 2013: 6,300), resulting in 12,300 new samples stored in 2014 (1HY 2013: 15,200). The Group has successfully stored over 268,000 samples per reporting date.

Gross profit and gross margin
Gross profit decreased to €8.9 million (2013: €9.5 million) as a result of the decrease of volume. The gross profit margin increased by 4.6 percentage point to 66.1%. The increase of gross profit margin is mainly the result of the full impact of the cost saving programme initiated in 2013.

Operating expenses
The underlying operating expenses are adjusted for non-recurring cost concerning:

• Severance cost: €0.2 million (1 HY 2013: €0.4 million)

Underlying operating expenses decreased by €0.9 million, mainly as a result of cost savings in the area of general and administrative expenses.

Underlying EBITA and operating result
Underlying EBITA amounted to -€0.2 million (1 HY 2013: -€0.5 million). Lower underlying operational expenses (€0.9 million) impacted the underlying EBITA, partly offset by the impact of lower volume.

Underlying depreciation was €0.5 million (1 HY 2013: €0.6 million), and underlying amortisation including the amortisation of identified intangible assets as a result of acquisitions amounted to €0.8 million (1 HY 2013: €0.7 million).

Underlying operating result amounted to -€1.0 million (1 HY 2013: -€1.2 million).

Net finance cost/income
Net finance costs of €0.1 million remained at a similar level compared to the first half of 2013 (€0.2 million).

Underlying result before taxation
The underlying result before taxation amounted to -€1.1 million (1 HY 2013: -€1.5 million).

Taxation
The underlying effective tax rate (ETR) amounted to -19.0% (1HY 2013: 4.0%).

Underlying result for the period
The underlying result after taxation was -€0.9 million (1HY 2013: -€1.5 million).

Cash flow
Net cash from operating activities was -€2.3 million (1 HY 2013: -€1.1 million). The decrease was mainly a result of an increase of the working capital.

Investments in property, plant and equipment of €0.2 million mainly relate to laboratory (equipment), and replacement investments. Investments in intangible assets (€0.1 million) related to software.
Acquisition of activities, plant, laboratory (€2.2 million).

As at 30 June 2014, Esperite N.V. had a cash position of €3.8 million (31 December 2013: €8.6 million).

Related party transactions

There were no material related party transactions during the first half of 2014.

Principal risks and uncertainties

Pages 29-32 of Cryo-Save's Annual report 2013 include an extensive overview of the Group's principal risks and uncertainties, which are also applicable for the remaining six months of 2014.

Declaration of the Chief Executive Officer

The Chief Executive Officer declares that, as far as he is are aware and to the best of his knowledge, the financial statements in this half year report, made up according to the applicable standards for financial statements, give a true and fair view of the equity, financial position and the results of the Group and its consolidated companies. The Chief Executive Officer further declares that this report to the shareholders gives a true and fair view on the information that has to be contained therein.

Zutphen, the Netherlands, 18 August 2014

Frederic Amar, Chief Executive Officer

Condensed consolidated interim financial statements

These condensed consolidated interim financial statements are unaudited.

Notes to the condensed consolidated interim financial statements 2014
(in thousands of euro, unless indicated otherwise)

1. Reporting entity

Esperite N.V. the 'Company' or 'the Group' is a limited liability company domiciled in The Netherlands. The address of its registered office and principal place of business is Piet Heinstraat 11a, 7204 JN Zutphen, The Netherlands.

2. Basis of preparation

Statement of compliance

The Group's condensed consolidated interim financial statements as at and for the six months ended 30 June 2014 were approved for publication by the Board of Directors on 18 August 2014.

The condensed consolidated interim financial statements of the Company as at and for the six months ended 30 June 2014 have been prepared in accordance with IAS 34 Interim Financial Reporting. As permitted by IAS 34, these statements do not include all of the information required for full annual financial statements, and should be read in conjunction with the consolidated financial statements of the Company as at and for the year ended 31 December 2013. In addition, the notes to the condensed consolidated interim financial statements are presented in a condensed format.      

For further details on the principle accounting policies of the Company, we refer to our website, www.esperite.com:
http://www.esperite.com.

3. Significant accounting policies

The significant accounting policies applied by the Group in these condensed consolidated interim financial statements are the same as those applied by the Group in its consolidated financial statements as at and for the year ended 31 December 2013.

The Group used the following new and revised IFRS standards and interpretations for the first time as of January 2014:

• Changes to IFRS 11: impacting Joint Venture accounting

Under IAS 31, the Group used the option to record its jointly controlled entity (Cryo-Save South Africa) under proportionate consolidation. IFRS 11 removes the option to apply proportionate consolidation and requires equity accounting for joint ventures. As a result, the 1HY 2013 figures have been restated.

4. Change in accounting estimates

In the first six months of 2014 the Group did not change any accounting estimate, which materially impacted the reported figures.

5. Use of estimates and judgements

The preparation of interim financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates. Estimated and underlying assumptions are reviewed on an ongoing basis. Revision to accounting estimates are recognized in the period in which the estimate is revised and in any future periods affected.
In preparing these condensed consolidated interim financial statements, the significant judgements made by management in applying the Groups' accounting policies and the key sources of estimation uncertainty were the same as those applied to the consolidated financial statements as at and for the year ended 31 December 2013.

6. Seasonality

The interim operations of the Company are not impacted by seasonal or cyclical patterns.

7. Structure

Serbia
The Group effectuated its option to acquire the last tranche of 10%, of the shares of Cryo-Save Serbia (previously known as Life R.F. doo). Esperite N.V. paid for this option the normalized EBITDA times a certain multiplier. Furthermore, an appreciation payment was made based on normalized EBITDA corresponding to the actual percentage of shareholding of sellers at the time. As Life R.F. waived their dividend entitlements, the Group consolidated this entity for 100%.

Salveo
The company entered into an asset sale and purchase agreement on the basis of which it has acquired the Swiss laboratory-related cord blood and cord tissue processing and storage activities, the regenerative medicine activities, and the central commercial and IT functions of Salveo Biotechnology S.A. ('Salveo'). This transaction, which will provide the Group with additional capacity and facilities in Geneva, will allow the company to reallocate resources and activities, and to increase the level of operational excellence.

The consideration for the transaction with Salveo amounts to €2.1 million consisting of a €700,000 payment in cash and the issue of a €1.4m convertible loan note to Salveo. The convertible loan note has been included under non-current borrowings in the condensed consolidated statement of financial position.

Portugal
The Group entered into a joint venture with CBB Group Sarl, the operator of the Portuguese leading Criobaby stem cell banking activities. Pursuant to the transaction, CBB Group Sarl transfers its Portuguese activities to Cryo-Save Portugal Ltda and acquires a 40% share interest in this company, the remaining 60% of the shares being held by Cryo-Save.

8. Historical Operating segments

The Group identifies an historical operating segments in addition to the extraction and storage of adult human stem cells : it mainly consists of Output Pharma Services GmbH ('Output').
There are no material levels of integration between the two reportable segments. The accounting policies of the reportable segments are the same, except for revenue recognition. Information regarding the results of each reportable segment is included below. Performance is measured based on EBITA (earnings before interest, tax and amortization of identified intangible assets), as included in the internal management reports that are reviewed by the Board. There are no inter-segment transactions.
Corporate overhead costs were not allocated to the segment 'other', but to the segment 'stem cell storage'.

Information about reportable segments

Revenue from external customers attributed to the Company's country of domicile, The Netherlands, amounted to €0.1 million (1HY 2013: €0.2 million).

9. Revenue

10.  Depreciation, amortization and impairment expenses

11.  Taxation
Income tax expense reported for the six month period ended 30 June 2014 is recognized based on management's best estimate of the weighted average annual effective income tax rate for the territories for which a tax expense is expected for the full financial year, applied to the pre-tax income of the interim period. The Group's applied consolidated effective tax rate for the six months ended 30 June 2014 was 16% (1HY 2013: -2%). The effective tax rate for the full year 2013 was -1%.
Estimates and judgment by management are required in determining the Group's deferred tax liabilities, amongst others corporate income tax and value added tax (VAT). The calculation of the tax liabilities is partly based on the interpretations of applicable tax laws in the jurisdictions in which the Group operates. Although the Group believes the tax estimates are reasonable, there is no assurance that the final determination of the tax liabilities will not be materially different from what is reflected in the statement of income and balance sheet. Should additional taxes be assessed these could have a material effect on the Group's results of operation or financial condition.

12.  Earnings per share

Basic earnings per share (EPS) are calculated by dividing net result attributable to ordinary equity holders of the Company by the weighted average number of ordinary shares outstanding during the period.

The calculation of diluted earnings per share is based on the calculation of the basic earnings per share, adjusted to allow for the assumed conversion of all dilutive share options.

The average market value of ordinary shares during the first half of 2014 did not exceed the exercise price of the options granted in the years 2007-2012, hence these options had no dilutive effect.

Reconciliation between number of shares and weighted average number of shares:

Reconciliation between weighted average number of shares and diluted weighted average number of shares:

13. Share options, treasury shares and dividend

Share options
No options were granted in Esperite N.V. to Directors and certain other employees of the Group.

Treasury shares
The Company has no own shares in treasury at 30 June 2014 (31 December 2013: 0).

Dividend
Following the shareholder resolution on 14 May 2014, the Company paid no dividend for the year 2013.

14. Contingent liabilities or contingent assets

The Group is involved in legal cases and ongoing disputes or potential legal proceedings with some parties in the ordinary course of business. Liabilities and contingencies in connection with these matters are periodically assessed based upon the latest information available, usually with the assistance of lawyers. A liability is accrued only if an adverse outcome is more likely than not and the amount of the loss can be reasonably estimated. If one of these conditions is not met, the proceeding or claim is disclosed as contingent liability, if material. The actual outcome of a proceeding or claim may differ from the estimated liability and consequently may affect the financial performance and position.

In the first half of 2014, there were no material changes to the Groups' commitments and contingent liabilities from those disclosed in the Annual Report for the year ended 31 December 2013.

15. Events after the reporting period

Paris Listing

Next to the primary listing on Euronext Amsterdam, Esperite has also been listed on Euronext Paris as at 7 July. Euronext Paris is currently the most active trading platform for public life sciences companies in Europe. The company considers the secondary Euronext Paris listing as a clear signal of its ambitions in the sector.

List of used scientific sources:
References:

* - clinicaltrials.gov; search keywords: umbilical cord blood
+ - clinicaltrials.gov; search keywords: autologous cord blood

• Biomaterials. 2014 Oct;35(30):8566-75. doi: 10.1016/j.biomaterials.2014.06.037. Epub 2014 Jul 4. Retention of stemness and vasculogenic potential of human umbilical cord blood stem cells after repeated expansions on PES-nanofiber matrices. Joseph M1, Das M1, Kanji S1, Lu J1, Aggarwal R1, Chakroborty D2, Sarkar C2, Yu H2, Mao HQ3, Basu S2, Pompili VJ1, Das H4.
   
• Front Hum Neurosci. 2014 Jun 27;8:382. doi: 10.3389/fnhum.2014.00382. eCollection 2014. Neurorestorative therapy for stroke. Chen J1, Venkat P2, Zacharek A1, Chopp M2.
   
• J Clin Invest. 2014 Jul 1;124(7):3121-8. doi: 10.1172/JCI74556. Epub 2014 Jun 9. Umbilical cord blood expansion with nicotinamide provides long-term multilineage engraftment. Horwitz ME, Chao NJ, Rizzieri DA, Long GD, Sullivan KM, Gasparetto C, Chute JP, Morris A, McDonald C, Waters-Pick B, Stiff P, Wease S, Peled A, Snyder D, Cohen EG, Shoham H, Landau E, Friend E, Peleg I, Aschengrau D, Yackoubov D, Kurtzberg J, Peled T.
   
• Biochem Biophys Res Commun. 2014 May 9;447(3):400-6. doi: 10.1016/j.bbrc.2014.03.145. Epub 2014 Apr 12. 3D microenvironment of collagen hydrogel enhances the release of neurotrophic factors from human umbilical cord blood cells and stimulates the neurite outgrowth of human neural precursor cells. Park JW1, Kang YD1, Kim JS1, Lee JH2, Kim HW3.
   
• Plast Reconstr Surg. 2014 Jul;134(1):59e-69e. doi: 10.1097/PRS.0000000000000305. Osteoblastic differentiation of wharton jelly biopsy specimens and their mesenchymal stromal cells after serum-free culture. Mueller AA1, Forraz N, Gueven S, Atzeni G, Degoul O, Pagnon-Minot A, Hartmann D, Martin I, Scherberich A, McGuckin C.
   
• Cytotherapy. 2014 Jun 23. pii: S1465-3249(14)00610-0. doi: 10.1016/j.jcyt.2014.05.012. [Epub ahead of print] Cardiomyogenic differentiation potential of human endothelial progenitor cells isolated from patients with myocardial infarction. López-Ruiz E1, Perán M2, Picón-Ruiz M3, García MA4, Carrillo E5, Jiménez-Navarro M6, Hernández MC7, Prat I7, De Teresa E6, Marchal JA8.
   
• Artif Organs. 2014 Jul;38(7):E118-28. doi: 10.1111/aor.12321. Epub 2014 May 20. In vitro generation of atrioventricular heart valve neoscaffolds. Weymann A1, Radovits T, Schmack B, Li S, Korkmaz S, Soós P, Istók R, Veres G, Chaimow N, Karck M, Szabó G.
   
• Invest Ophthalmol Vis Sci. 2014 Jun 6;55(7):4073-83. doi: 10.1167/iovs.14-14304. Generation of a Biomimetic Human Artificial Cornea Model Using Wharton's Jelly Mesenchymal Stem Cells. Garzón I1, Martín-Piedra MA1, Alfonso-Rodríguez C1, González-Andrades M2, Carriel V1, Martínez-Gómez C3, Campos A1, Alaminos M1.

Enquiries:

About Esperite (www.esperite.com:
http://www.esperite.com)

Esperite, the leading international family stem cell bank, stores more than 268,000 samples from umbilical cord blood and cord tissue. There are already many diseases treatable by the use of stem cells, and the number of treatments will only increase. Esperite has cryopreserved samples from over 70 countries on six continents, with ultra-modern processing and storage facilities in Belgium, Switzerland, Germany, Dubai, South Africa and Portugal.