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Cytonome Awarded MassDevelopment Emerging Technology Fund Loan
Boston, MA, June 30, 2005 - Cytonome, Inc., developer of the clinical-grade Gigasort™ optical cell sorter, announced today that it has secured a $600,000 Emerging Technology Fund Loan from the Massachusetts Development Finance Agency. The loan was approved to fund the purchase and installation of leasehold improvements for Cytonome’s new manufacturing facility at 27 Drydock Avenue in Boston, Massachusetts. Administered by MassDevelopment, the state’s $25 million Emerging Technology Fund provides loans and guarantees to technology-based companies for facilities and specialized equipment.
Cytonome, Inc., is the developer of the clinical grade Gigasort™ optical cell sorter, an ultra-high throughput optical cell sorter built around a disposable, sterile cartridge technology. The system allows doctors and scientists to precisely select the cells that will make up a human therapeutic cell transplant. The Gigasort system provides the solution to the major hurdle for commercialization of cellular therapies—a path to FDA compliant manufacture of advanced cell products.
“Our Gigasort System has the potential to revolutionize cell-therapy treatments worldwide. We will enable a host of new curative strategies for cancer, auto-immune diseases and tissue regeneration applications while simultaneously lowering safety risks for scientists, physicians and laboratory workers,” said John Gilbert, Ph.D., Cytonome's Chief Executive Officer. “MassDevelopment’s Emerging Technology Fund Initiative is helping us expand our business and keep our manufacturing in the local area. It’s a positive development for Cytonome, Boston and Massachusetts.”
Cytonome, Inc. relocated June 1, 2005 to its new 18,000 square foot facility funded under the MassDevelopment program. The new space houses Cytonome's cGMP manufacturing facilities as well as the company’s scientific laboratories and executive offices.
About Cytonome
Cytonome, Inc. develops, manufactures and markets clinical grade optical cell sorting technology. Cytonome's Gigasort system is the only clinical-grade optical cell sorter using a sterile, disposable cartridge for precise and safe selection of discrete cell populations. Our revolutionary technologies are used to translate cellular therapies from laboratory to clinic.
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