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Exhibit 99.1
| Press Release | Source: CytoCore, Inc. |
CytoCore announces its Third International Distribution
Agreement
Tuesday,
November 13, 9:30 am ET
CytoCore
signs Agreement with Grupo Palex SA for distribution in Spain
CHICAGO—(BUSINESS WIRE)—CytoCore, Inc. (OTCBB:
CYCR — News ) , a biopharmaceutical research
and medical device company focused on early detection and treatment
of reproductive-tract cancers, today announced that it has entered
into a five year agreement with three-one year
“evergreen” extensions with Grupo Palex SA for
distribution of the SoftPap Cervical Cell Collector into Spain.
Palex is one of Europe’s leading distributors of medical
products and services to hospitals. Palex’s agreement calls
for minimum sales of 600K units the first year, 1.2mm units the
second, 2.4mm units minimum the third year, with 10% increases each
year thereafter.
CytoCore
CEO Robert McCullough Jr. stated “Palex is recognized as a
leader in bringing new medical technology to their markets. We are
very excited with this agreement and the opportunity to partner
with Palex as we enter the European markets. Palex has expertise in
the diagnostic market and they have expressed an interest in
helping us develop and expand the Automated Image-Guided Proteomic
System (AIPS) platform. The AIPS system provides the
cytologist with computerized assistance in the evaluation and
review of conventionally and fluorescently stained cytology
specimens. CytoCore is developing and testing fluorescent Uterine
and Cervical cancer screening assays to work with the AIPS
platform.”
“Dr. Augusto Ocana who helped build CH-Werfen to a
billion dollar European medical products company has b






