RANCHO CORDOVA, Calif.,
Jan. 4, 2019 /PRNewswire/ -- Cesca Therapeutics Inc.
(NASDAQ: KOOL), a market leader in automated
cellular processing and autologous cell therapies for
regenerative medicine, today announced that, under the terms of a
reorganization and share exchange agreement approved by the Board
of Directors, it has acquired from Bay City Capital (BCC) the
remaining 20% equity share of its device subsidiary, ThermoGenesis
Corp. In exchange, BCC has taken 20% ownership in a newly
created subsidiary of ThermoGenesis called CARTXpress Bio, Inc. the
remaining 80% of which is owned by ThermoGenesis. The
reorganization and share exchange took effect on January 1, 2019.
As a result, ThermoGenesis is now a wholly owned subsidiary of
Cesca with a focus on the development and commercialization of
automated medical devices and technologies for cell-based
therapies, including stem cell banking, point-of-care applications,
and large-scale cell manufacturing of immunotherapy drugs, such as
chimeric antigen receptor (CAR) T cells. Specifically,
ThermoGenesis' proprietary technology platforms include:
- The AutoXpress® platform, a
proprietary automation platform designed to address the needs
of the stem cell banking industry, which includes:
-
- AXP® and AXP (II), market-leading,
automated systems for the isolation, collection and storage of
hematopoietic stem cell concentrates from cord blood and peripheral
blood
- BioArchive®, a market-leading product
for automated controlled-rate-freezing and cryogenic storage of
cellular product for clinical applications
- The POCXpress platform, a proprietary automation
platform with dedicated devices for the rapid, processing of
autologous peripheral blood or bone marrow-derived stem cells and
other hematopoietic components at the point of care, such as
surgical centers or clinics
- The CAR-TXpress™ platform, a functionally
closed, semi-automated, low-cost system that selects target cells
using Cesca's patented buoyancy-activated cell separation (BACS)
technology for more efficient cellular manufacturing. CAR-TXpress
includes the company's X-Series™ products:
-
- X-LAB™ for Cell Isolation
- X-BACS™ for Cell Selection
- X-WASH™ for Cell Washing and Reformulation
In connection with the reorganization, Ms. Haihong Zhu, president of ThermoGenesis, has
also been appointed president of its newly formed subsidiary,
CARTXpress Bio, Inc. Additionally, beginning with the filing
of company's first quarter 2019 financial results, Cesca will
report ThermoGenesis as a 100% owned device division, according to
business segment accounting requirements.
Chris Xu, Ph.D.,
Cesca's chief executive officer, commented, "Under this
revised corporate structure, we believe that we can more
effectively unlock the true underlying value of each area of focus
with dedicated leadership teams and solid strategies for
growth."
About ThermoGenesis
Corp.
ThermoGenesis
Corp. is a wholly owned subsidiary of Cesca Therapeutics with
a focus on the development and commercialization of automated
medical devices and technologies for cell-based therapies,
including stem cell banking, point-of-care applications, and
large-scale cell manufacturing. For more information, visit:
www.thermogenesis.com.
About Cesca Therapeutics Inc.
Cesca
Therapeutics Inc. is a market leader in automated
cellular processing technologies and autologous cell therapies
for regenerative medicine. For more information,
visit: www.cescatherapeutics.com.
Company Contact:
Cesca Therapeutics Inc.
Wendy Samford
916-858-5191
ir@cescatherapeutics.com
Investor Contact:
Rx Communications
Paula Schwartz
917-322-2216
pschwartz@rxir.com
View original
content:http://www.prnewswire.com/news-releases/cesca-therapeutics-acquires-remaining-ownership-stake-in-thermogenesis-and-forms-new-thermogenesis-subsidiary-cartxpress-bio-inc-to-focus-on-its-car-txpress-cellular-processing-platform-300772840.html
SOURCE Cesca Therapeutics Inc.