San Diego-based Cytori Therapeutics (Nasdaq: CYTX) has consolidated its EU operations to a new European office combined with a manufacturing facility in Deeside, Wales, UK.
Relocation of Cytori's European offices from Switzerland to Wales and the expansion of manufacturing capabilities to the EU should reduce manufacturing costs over time and may facilitate broader regulatory approvals around the world.
Cytori's Welsh office will house EU-based customer service and will be increasingly responsible for ongoing manufacturing of current and future products sold in the EU and other markets such as China. The next generation Celution System, currently in development in San Diego, will also be manufactured in the UK.
The consolidation to Wales has also positioned Cytori to receive a number of government incentives. These incentives, part of the Welsh government's program to attract new business investment, are valued at up to £450,000 over several years and include property tax relief and defraying labor costs for a specified term. Cytori's Welsh office has completed the required medical device manufacturing certification audits, including those for ISO13485 and ISO 9001.
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