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CRYOLIFE, INC. RECEIVES $500,000 GRANT FROM U.S. DEPARTMENT OF HEALTH & HUMAN SERVICES

 ATLANTA, Aug. 10 /PRNewswire/ -- CryoLife, Inc. (NASDAQ-NMS: CRYL) announced that it has been awarded a $500,000 Phase II Small Business Innovative Research Grant from the U.S. Department of Health and Human Services for the development of a formulation and delivery system for fibrin adhesive.
 The adhesive, called FibRx(TM), is a multi-purpose surgical product designed to control bleeding, seal tissues and prostheses, bind tissues together for wound closure, and promote healing.
 In June 1993, CryoLife, Inc., received a U.S. patent for the time- saving and easy-to-use fibrin adhesive delivery method. To facilitate development of the surgical adhesive, the company also announced plans for the construction of a new 11,000-square-foot pilot production facility scheduled for completion by the end of 1993.
 Steven G. Anderson, president and chief executive officer of CryoLife, Inc., said: "This timely grant will greatly assist the company in the commercial development of FibRx. Importantly, the grant supports component scale-up and testing costs as well as critical pre- clinical studies. Company research and development funds can now be redirected toward efforts to expedite the clinical testing and marketing of FibRx."
 Animal studies on the fibrin adhesive are scheduled to begin early in 1994, with human clinical trials scheduled for the fall of 1994. According to industry sources, the U.S. market for fibrin sealant is estimated to be approximately $250 million annually.
 Founded in 1984, CryoLife, Inc., is a leader in the development and commercialization of technology for ultra-low temperature preservation ("cryopreservation") of viable human cardiovascular and orthopaedic tissues for transplant. The company uses proprietary or patented processes to disinfect, preserve, store and transport human heart valves, veins, and connective tissues for use in cardiac, vascular and orthopaedic surgeries.
 The company is also the exclusive worldwide distributor for Bravo Cardiovascular, Inc., implantable porcine (pig) cardiovascular devices.
 -0- 8/10/93
 /CONTACT: Suzanne Gabbert, assistant corporate secretary of CryoLife, 800-438-8285/
 (CRYL)


CO: CryoLife, Inc. ST: Georgia IN: MTC SU:

BN-RA -- AT006 -- 1061 08/10/93 09:14 EDT
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Date:Aug 10, 1993
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