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OLDSMAR — Cryo-Cell International Inc. (symbol: CCEL) signed an exclusive licensing agreement with Stem Cells Costa Rica, a privately held firm based in the country's capital city of San Jose.
Stem Cells Costa Rica will pay Cryo-Cell an upfront fee to obtain the license, in addition to future annual fees for processing and storage, according to a statement.
The addition of Stem Cells Costa Rica will further expand Cryo-Cell's already substantial international presence. Cryo-Cell currently has affiliate partners in more than a dozen countries, including Guatemala, Honduras, Mexico, Chile and Pakistan.
Cryo-Cell International earned $17.6 million in revenues in its 2010 fiscal year, along with $3.2 million in operating income. Its stock, which trades over the counter, is up 20% thus far in 2011.
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