RANCHO CORDOVA, Calif. and SYRACUSE, N.Y., Oct. 13, 2014 (GLOBE NEWSWIRE) -- Cesca Therapeutics Inc. (Nasdaq:KOOL), an autologous cell-based regenerative medicine company, today announced that the Company has successfully secured a contract to provide its cell storage, processing and consumables platform to Upstate Medical University's, Upstate Cord Blood Bank, one of two public blood cord banks in New York State and one of 27 total public cord blood banks in the United States.
Upstate Cord Blood Bank, the newly created $15 million health sciences center in Syracuse, New York, will collect, process and store umbilical cord blood donated by families throughout Central and Northern New York. Cord blood will be banked and used by those in need of life-saving medical treatments and for medical research.
"Being selected by the newly formed Upstate Cord Blood Bank to provide our state of the art cryogenic cell storage technology, the BioArchive® System, and our automated cell processing platform the AutoXpress®, is a key win for our cord blood business," said Matthew Plavan, Chief Executive Officer of Cesca Therapeutics. "What we find equally exciting, however, is the clinically progressive and scientifically rigorous mentality within the leadership at Upstate that we expect will foster medical innovation and possible collaboration opportunities, to push the boundaries of cord blood clinical applications more squarely into the regenerative medicine space," continued Plavan.
Nicholas Greco, Ph.D., Executive Director and Tissue Bank Director for the Upstate Cord Blood Bank stated, "New York State is committed to innovative science and medicine and with the creation of its public Upstate Cord Blood Bank, the residents of New York will have a facility where there is no cost to donate cord blood and banked cord blood will be available to anyone who needs it." He added, "Cesca technologies are designed for bioprocess efficiency with the goal of selecting and retaining the highest number of viable potent stem cells. By implementing the AutoXpress processing platform with XpressTrak® software coupled with the robotic automation and controlled-rate freezing in the BioArchive® System, we can also immediately implement lean manufacturing principles of cell-based processing at our under-development facility."
About Cesca Therapeutics Inc.
Cesca Therapeutics Inc. (www.cescatherapeutics.com) is engaged in the research, development, and commercialization of autologous cell-based therapeutics for use in regenerative medicine. We are a leader in developing and manufacturing automated blood and bone marrow processing systems that enable the separation, processing and preservation of cell and tissue therapy products. These include:
- SurgWerks™ Platform, proprietary stem cell therapy point-of-care kit systems for treating vascular and orthopedic indications that integrate the following indication specific systems:
- Cell harvesting
- Cell processing and selection
- Cell diagnostics
- Cell delivery
- CellWerksTM Platform, a proprietary stem cell laboratory kit for processing target cells used in the treatments of oncological and hematological disorders.
- 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 MarrowXpress Platform (MXP), a derivative product of the AXP and its accompanying disposable bag set, isolates and concentrates stem cells from bone marrow. Self-powered and microprocessor-controlled, the MXP contains flow control optical sensors that volume-reduces blood from bone marrow to a user defined volume in 30 minutes, while retaining over 90% of the MNCs.
- The Res-Q™ 60 (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).
- 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.
About Upstate Medical University
The region's largest employer with nearly 9,000 employees, Upstate Medical University is the only academic medical center in Central New York, serving the state from Canada to Pennsylvania with its educational, clinical and research missions. A highlight of Upstate's leading role in the region is its ability to ensure access to vital one-of-a-kind services, such as burn and trauma care and an array of highly specialized stroke, cancer and neurosurgical and pediatric services through its 715-bed Upstate University Hospital, which includes the Upstate Golisano Children's Hospital. In addition to its clinical mission, Upstate, which is one of the State University of New York's (SUNY) 64 campuses enrolls 1,600 students and offers degrees in medicine, nursing and a variety of health professions, and conducts more than $30 million in funded research.
Forward Looking Statement
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. A more complete description of risks that could cause actual events to differ from the outcomes predicted by Cesca Therapeutics' forward-looking statements is set forth under the caption "Risk Factors" in Cesca Therapeutics annual report on Form 10-K and other reports it files with the Securities and Exchange Commission from time to time, and you should consider each of those factors when evaluating the forward-looking statements.
Source:Cesca Therapeutics Inc.