RANCHO CORDOVA, Calif., Jan. 8, 2014 (GLOBE NEWSWIRE) -- ThermoGenesis Corp. (Nasdaq:KOOL), a leading supplier of enabling technologies for the processing and storage of stem cells and other biological tissues, today announced the signing of a five-year agreement to supply Cord Blood Registry® (CBR®), the world's largest and most experienced newborn stem cell company, with ThermoGenesis' AutoXpress® System (AXP) cord blood processing system and disposables. The AXP System is a proprietary family of automated devices with companion sterile blood processing disposables for harvesting cord blood stem cells in closed systems. Previously, ThermoGenesis supplied CBR the AXP System indirectly through its North American independent distributor.
"After 20 years and more than 500,000 cord blood and cord tissue stem cell collections in 3,500 hospitals in over 100 countries, CBR is the largest, most experienced newborn stem cell bank in the world," notes Geoff Crouse, Chief Executive Officer of Cord Blood Registry. "As a result of the implementation of the AXP system in 2006, CBR was the first US family bank to utilize fully automated, functionally-closed stem cell processing technology, resulting in our published cell recovery rate of 99% - the highest in the industry. The AXP platform is an integral component of the 'CBR Advantage' and we look forward to continuing our relentless pursuit of product quality and technical innovation through our direct partnership with ThermoGenesis," adds Crouse.
The agreement with CBR represents the culmination of a strategic restructuring of ThermoGenesis' North American sales and distribution channel in which the company no longer relies on independent distributors and has established direct customer supply agreements.
"We are excited to have a direct supply arrangement with an industry leading partner in CBR, allowing us to better interact and work in closer partnership," said Matthew Plavan, Chief Executive Officer of ThermoGenesis. "We expect that improved cooperation to provide us with valuable insights and user feedback from which to further improve quality and push the boundaries of innovation, bringing new product performance and system functionality to our customers," he continued.
About Cord Blood Registry
Cord Blood Registry® (CBR®) is the world's largest newborn stem cell company. Founded in 1992, CBR is entrusted by parents with storing more than 500,000 cord blood and cord tissue units. CBR is dedicated to advancing the clinical application of newborn stem cells by partnering with leading research institutions to establish FDA-regulated clinical trials requiring CBR processed cord blood for conditions that have no cure today. For more information, visit www.cordblood.com
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About ThermoGenesis Corp.
ThermoGenesis Corp. (www.thermogenesis.com) is a leader in developing and manufacturing automated blood processing systems and disposable products that enable the processing and preservation of cell and tissue concentrates. These include:
- The BioArchive® System, an automated cryogenic device, used by cord blood stem cell banks in more than 30 countries for cryopreserving and archiving cord blood stem cell units for transplant.
- AXP® AutoXpress® Platform (AXP), a proprietary family of automated devices that includes the AXP and the MXP® MarrowXpress® and companion sterile blood processing disposables for harvesting stem cells in closed systems. The AXP device is used for the processing of cord blood. The MXP is used for the preparation of cell concentrates, including stem cells from bone marrow aspirates in the laboratory setting.
- The Res-Q™ 60 BMC/PRP (Res-Q), a point-of-care system designed for the preparation of cell concentrates, including stem cells, from bone marrow aspirates and whole blood for platelet rich plasma (PRP).
This press release contains forward-looking statements. These statements involve risks and uncertainties that could cause actual outcomes to differ materially from those contemplated by the forward-looking statements. Several factors including timing of FDA and foreign regulatory approvals, changes in customer forecasts, our failure to meet customers' purchase order and quality requirements, supply shortages, production delays, changes in the markets for customers' products, introduction timing and acceptance of our new products scheduled for fiscal year 2014, and introduction of competitive products and other factors beyond our control could result in a materially different revenue outcome and/or in our failure to achieve the revenue levels we expect for fiscal 2014. A more complete description of these and other risks that could cause actual events to differ from the outcomes predicted by our forward-looking statements is set forth under the caption "Risk Factors" in our annual report on Form 10-K and other reports we file with the Securities and Exchange Commission from time to time, and you should consider each of those factors when evaluating the forward-looking statements.