RANCHO CORDOVA, Calif., Oct. 16, 2018 /PRNewswire/ -- Cesca Therapeutics Inc. (NASDAQ: KOOL), a market leader in automatedcell processing and point-of-care, autologous cell-based therapies, announced today the departure of Vivian Liu, Chief Operating Officer, and Joseph Balagot, Senior Vice President of Corporate
"As previously reported, the initial launch of our CAR-TXpress cellular processing platform has been well received by CAR-T developers and research laboratories, who recognize the inherent value that our unique platform can offer. Focusing our efforts on continuous development and commercialization of CAR-TXpress, and increasing sales and marketing of our X-Series products, will best position the Company for long-term success," said Chris Xu, Chief Executive Officer of Cesca. "This difficult, but necessary, reduction in force will provide us with a more streamlined organization and further alleviate operational losses, in order to help us achieve important business milestones. The overall goal of the Company is to achieve a cash flow positive position in 2019. I would like to personally express my appreciation to each of the employees impacted by this decision for their commitment to Cesca and its mission to be a leading innovator of automated cellular processing systems."
About Cesca Therapeutics Inc. Cesca Therapeutics Inc. (the "Company") develops, commercializes and markets a range of automated technologies for CAR-T and other cell-based therapies. Its device division, ThermoGenesis Corp., provides a full suite of solutions for automated clinical biobanking, point-of-care applications, and automation for immuno-oncology. The Company is developing an automated, functionally-closed CAR-TXpress™ platform to streamline the manufacturing process for the emerging CAR-T immunotherapy market.
Company Contact: Cesca Therapeutics Inc. Wendy Samford916firstname.lastname@example.org
Investor Contact: Rx CommunicationsPaula Schwartz917email@example.com
View original content:http://www.prnewswire.com/news-releases/cesca-therapeutics-announces-cost-reduction-measures-aimed-at-achieving-cash-flow-positive-position-in-2019-300731704.html
SOURCE Cesca Therapeutics Inc.
Subscribe to our Free Newsletters!