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TOPIC: Bailed-out By Lorem Vascular

Bailed-out By Lorem Vascular 13 Apr 2019 07:21 #12814

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AVITA is a great advance in the burn AND wound care space, but it is not the only game in town.

BARDA has been funding a number of other companies which have also been doing wonderful things. One is Polynovo an aussie company (with no US listing) which has created a totally synthetic structure that treats full depth burns by creating an efficient scaffold for the body to regenerate the dermis thus reducing the risk of contractures. This product is already approved for sale in the USA as a 510(k) product with sales starting to ramp up. They have also fully enrolled a burn feasibility trial which is doing really well. The AUD$ share price has done very well todate. PNV.AX

polynovo.com.au/wp-content/uploads/2016/11/MK-005-NovoSorb-BTM-Product-Brochure_V2.0_Effective.pdf

member.afraccess.com/media?id=CMN://3A497581&filename=20180802/PNV_02005873.pdf

BARDA have been very astute in picking which companies they support and why. Cytori's Celution device and ADRC are the perfect complement to the Novosorb scaffolding as it will supercharge healing. Through its systemic application/effect it works to heal at the interface of the debrided wound and the scaffold accelerating cellular uptake. One could also make the case that ADRC could be sprayed on to the debrided wound surface prior to Novosorb being placed. ADRC could then also be injected systemically which we know works from both porcine and human studies.:nice:

AVITA , Polynovo, Cytori. These three companies and their respective products, I believe work in a complimentary fashion to optimally treat the most difficult of wounds. All three together, or in various combinations will treat a huge range of wounds that cumulatively cost health care systems BILLIONS every year.

Now lets switch from the utility of ADRC to the issue of CYTX : the equity investment.

Lorem is effectively an Australian (Chinese?) company. They now own the IP and global rights to the ADRC/Celution technology (ex Japan/USA).. BARDA is going to continue to fund CYTX burn trials.
WHEN the benefits of this technology are proven via BARDA funded trials and all the other independent investigator trials, eg SUI, Mayo clinic osteonecrosis, scleroderma etc. to name just a few. .............. comments such as : [color=] If Lim is so smart, how did he get raked over the coals so badly by Calhoun 5+ years ago - I recall $24 million or so for stock plus worthless territories - even now, Lim still does not have Japan (the largest market currently for stem cell therapy)![/color] may very well seem misplaced.

Here is a link to litigation beween Cytori and Lorem that admittedly CYTX won, but makes me understand why no one wants to do a deal with them.
Except of course for Lorem. They wanted $5M from Cytori......... didn't get it........ sold their shares and for only $3M stripped the company of its IP portfolio and raped the long sufferring fools (shareholders) who believe(d) in ADRC. How did this happen ???????? Why did this happen????????.:bash:

www.casemine.com/judgement/us/5b4dc10d433ca048bf0b6984

K.H. Lim will no doubt be hoping that any of the BARDA , SUI, French scleroderma (diffuse) data, Mayo Clinic osteonecrosis trials, amongst others, will be positive.
Does anyone truely believe that K H Lim is very stupid. No, he is a genius. He just waits and doesn't have to run any trials or take on any debt. After having spent $24M on CYTX stock he offloaded his stock, albeit at a loss but at much higher levels than the current share price and for ONLY $3M extra he now gets EUROPE, AFRICA, MIDDLE EAST etc. AND ALL THE IP.
As an entrepreneur and real estate guy what are the odds he flicks this for a fortune to some Japanese, Chinese or European biotech ?????????

The agreement between Lorem Vascular and Cytori which was appended to the 8K filing is virtually unreadable. I believe that this was not a mistake.

secfilings.nasdaq.com/filingFrameset.asp?FilingID=13333345&RcvdDate=4/1/2019&CoName=CYTORI%20THERAPEUTICS%2C%20INC.&FormType=8-K&View=html

As per my earlier posts I do not know what CYTX is truly entitled to . Although uncertain, given the unreadable deal appendix, it is highly probable that the USA and Japanese regenerative markets still have great value. In the case of the USA, I believe that the method of action should be the basis for determining which applications are covered, not just burns. Given the highly litigous environment in the USA and a huge number of contingency clauses in the sale contract/appendix to 8K .......... how much value exists and for how long, under this management, is suspect.:bash: Given past performance by management I am not optimistic. Something stinks. Value exists, fiduciary responsibility does not.:cry:
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Bailed-out By Lorem Vascular 13 Apr 2019 10:51 #12815

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Excellent summary, although the USA market left to Cytori is only BARDA.
Other than the possibility of stock piling at the expense of US tax payers I still question how much utility BARDA finally brings to the table.
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Bailed-out By Lorem Vascular 14 Apr 2019 00:44 #12816

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Hedge, firstly, I would point out that BARDA's financing has made it possible for these companies to fund the trials necessary to get FDA approval and the vital access to the big prize, the USA market. Apart from funds they also provide expertise which is necessary to navigate the regulatory pathway ........... money, expertise = validation. As for the stockpiling, it is simply confirmation of success. The financial rewards for the company and society should vastly exceed any stockpiling financial cost which can be offset in a number of ways.

BARDA funding has fundamentally contributed to human health in the burn space ......... globally. Hopefully its bet on CYTX will also be validated

Hedge, given our mutual observations concerning the quality (print/spacing) of the sales aggreement and the difficulty to understand what is in the contract I have decided to contact the company directly and request that they provide me with a legible copy and also provide access via their website for all shareholders and interested parties. I also reserve the right to formally ask questions arising from said sales contract/agreement.

Some questions for their potential consideration, assuming any of them monitor this board are :

1. What exactly constitutes the ''rights'' to the BARDA contract ?? Is Cytori the owner of sole rights to the US market for (a) burns in general and/or , (b) burns emanating from mass casualty events which include radiation effects and/or, (c) any purchase quantity of machines and disposables purchased by BARDA, and/or (d) burns and wounds in general that are treated via ADRC/Celution as per the method of action determined and established via the RELIEF and any other BARDA funded trials?, or heavens forbid, (e) only the right to undertake the trials without any accruing market rights, ie effectively a contractor only. In short how broad is the market segment/access we (CYTX) retain in the USA ???????

2. How do you reconcile having been in extensive litigation with Lorem Vascular yet you sell them not only the IP but also make yourselves dependent on a company with NO medical equipment production expertise??? I appreciate that Cytori has an adequate inventory, and is passing on this production capacity and expertise. WHY NOT SIMPLY LICENSE THE ROW MARKETS ??????

3. Does Cytori retain the right to produce machines and disposables if it so wishes? It would appear that the boot is on the other foot.

4. Are there any reverse buy back clauses ????

The above questions are questions of substance, not procedure.

Hedrick comment transcript :

''However, the transaction excludes all rights in the company's most valuable market which is Japan. Also the deal excludes rights to the existing BARDA contract and Cytori will continue to maintain both of these key aspects of the business. The company also retained substantial inventory to supply these two portions of the business, but then in the future we'll obtain product via supply agreement executed with Lorem Vascular. The transaction is anticipated to close over the next month following completion of the requisite closing conditions.''
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Bailed-out By Lorem Vascular 14 Apr 2019 08:30 #12817

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Just for clarity sake, I am not against Government assistance in funding of promising new tech (to a point) I do believe we lost our edge in this space.

Funny, we were thinking the same with regard to the filing. After my last post I copied the filing and started to remove the spaces to make it readable but quickly became board with the task. Then considered complaining to the SEC. Maybe that is a option if you dont get a satisfactory response.
I also took time yesterday to reread the passage you posted...in BARDA I believe they are still shooting for the stocking windfall but I would love a official answer to that and your other well thought out questions. I also still have my questions as to why the short interest suddenly disappeared and its timing.

Anyway, good luck in your quest for info from a company in which you are actually part owner. I look forward to anything you can share with the lodge.

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Bailed-out By Lorem Vascular 15 Apr 2019 06:36 #12818

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Thanks for the great research you have done and your commitment to get to the bottom of the Lorem divestiture. Please keep it up and keep us informed on the wound healing front too. Personally I am kind of stressed at present and just glanced at the latest presentation by Avita, which also convinced me of the progress the technology brings to burn patients especially when comparing to standard of care.
Just one warning- with 1.8 BILLION shares OS, a CEO making 1.7 Mio and a market cap of about 500 Mio US$, the valuation is already rather ambitious, based on present sales. I do not have much idea of which revenue a FDA PMA can make in a specialized business, but we will see soon enough.
Keep up the good work.:yep:

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:
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