DGAP-News: Vita 34 significantly increases profitability in the first quarter and paves the way for expansion of the product portfolio
DGAP-News: Vita 34 AG / Key word(s): Quarter Results
Vita 34 significantly increases profitability in the first quarter and paves the way for expansion of the product portfolio
The planned increase in cash and cash equivalents, resulting from the high level of operating cash flow, will be available to the Company's Executive Board for investments in the future organic and acquisition-related growth of Vita 34 as the year progresses. Further sources of funding will be added upon project progress.
"As stated in our current corporate presentation, we see significant growth potential for our company in the coming years, and above all through the development and introduction of new products," says Dr. Wolfgang Knirsch, Chief Executive Officer of Vita 34. "In addition to our AdipoVita product, which we hope to launch later this year, we are focusing our human and financial resources on investments into expanding our product range for the storage of peripheral blood for the use in immune cell therapies. After the preliminary legal review in the first quarter has already been approved, we would ideally expect a market launch within the next 24 months, provided that all further steps of the approval process can be completed according to plan as expected."
Further information on the company and the current company presentation can be found in the Investor Relations section of the Vita 34 AG website at https://www.vita34.de/investor-relations/.
Vita 34 AG
Phone: +49 (0341) 48792 - 0
Mobile: +49 (0174) 9091190
Vita 34 was founded in Leipzig in 1997 and is today one of the leading cell banks in Europe. As the first private umbilical cord blood bank in Europe and a pioneer in cell banking, the company has since then been a complete provider of cryopreservation services for the collection, processing and storage of stem cells from umbilical cord blood and umbilical cord tissue. Based on the expansion of the business model in 2019, Vita 34 intends to also offer the storage of stem cells from endogenous fat as well as immune cells and cell preparations from peripheral blood and umbilical cord blood in the future. Nursing cells are a valuable source of medical cell therapy and are kept alive at temperatures as low as minus 200 degrees Celsius for use as part of a treatment when needed. More than 230,000 customers from more than 20 countries have already provided for their family's health with a cell depot at Vita 34.
|Company:||Vita 34 AG|
|Deutscher Platz 5a|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||808795|
|End of News||DGAP News Service|