Cryosite and Peter Mac team up to store stem cells

Sydney-based cryogenic storage company Cryosite (ASX: CTE) has entered into an agreement with Melbourne's Peter MacCallum Cancer Centre to provide long term storage of patients' blood stem cells.

The cells are stored for future use in treatment following high dose chemotherapy, which can inhibit the ability of the bone marrow to make new blood cells.

"Cryosite already collects and stores cord blood stem cells and other biological material, all stored for individual re-use, so we have the systems in place to facilitate this new service for cancer patients," said Cryosite managing director Gorden Milliken.

Under the agreement, the Peter Mac will be responsible for collecting the stem cells and storing them for an initial period of 60 days. Cryosite will then transport the cells to its Sydney cryogenic facility for long-term storage. Patients will sign contracts with Cryosite for storage and direct access to the cells when required.

Cryosite managing director Gorden Milliken said that the two parties had been in discussions over the agreement for some time, while regulatory issues including ethics approval and TGA GMP compliance were dealt with.

"This agreement with Peter Mac, one of Australia's leading cancer treatment and research centres, indicates wider applications for our cryogenic storage business, taking advantage of Cryosite's existing infrastructure and professional staff," he said.

The company also provides cryogenic storage services for umbilical cord blood cells, archiving, storage and distribution of biomedical samples and reagents for medical, research and biotech industries, and increasingly is working with pharmaceutical companies and CROs to provide clinical trials logistics services.