RANCHO CORDOVA, Calif., Aug. 30 ThermoGenesis Corp. (Nasdaq: KOOLD), a leading supplier of innovative products and services that process and store adult stem cells, said today it has sold two BioArchive® Systems to HealthBanks Biotech Company, Ltd. (HealthBanks).
HealthBanks, which operates cord blood banks in Taiwan, Hong Kong, Thailand and the U.S., now has a total of 20 BioArchives and a storage capacity for cryopreserving and archiving cord blood stem cells of 60,000 units. HealthBanks also utilizes ThermoGenesis' AXP® AutoXpress(TM) (AXP) Platform, an automated device used for the processing of cord blood.
"We are pleased with our continued strengthening relationship with HealthBanks, as well as with the increased penetration in Asia. The region represents an important market opportunity for the Company as cord blood collection activity there is experiencing dramatic growth," noted J. Melville Engle, Chief Executive Officer of ThermoGenesis.
"We believe that the high cell recovery and viability achieved with the combined use of the AXP and BioArchive Systems plays a significant role in accelerating the time to patient engraftment," according to HealthBank's President Chang Hsiu-kang and Vice President of Operations Chen, Wei-Chun.
"We have a nearly decade-long relationship with HealthBanks and they are demonstrating the value of integrating our offerings -- the BioArchive and AXP -- as well as our manual bag sets, to create a model for the efficient and cost-effective collection of stem cells from cord blood that provides them the quality product and competitive advantages in the growing markets they serve," Engle noted.
"As we announced previously, the prior quarter was marked by strong BioArchive activity and we are encouraged that this trend appears to be continuing in the current quarter as well," he added.
About HealthBanks Biotech Company, Ltd.
Founded in Taiwan, HealthBanks now operates cord blood banking facilities in Taiwan, Hong Kong, Thailand, and in the U.S. HealthBanks was the first Asian private cord blood bank to enter the U.S. market and was the first private cord blood bank in Taiwan to adopt the ThermoGenesis BioArchive System and multi-compartment blood bag.
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 manufacture, preservation and delivery of cell and tissue therapy products. These include:
This press release contains forward-looking statements, and such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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 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 years 2010 and 2011, 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 2010 and 2011. 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.
-- The BioArchive® System, an automated cryogenic device, is 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(TM) Platform (AXP), a proprietary family of automated devices that includes the AXP and the MXP(TM) MarrowXpress(TM) 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(TM) 60 BMC (Res-Q), a point-of-care system that is designed for the preparation of cell concentrates, including stem cells, from bone marrow aspirates. -- The CryoSeal® FS System, an automated device and companion sterile blood processing disposable, is used to prepare fibrin sealants from plasma in about an hour. The CryoSeal FS System is approved in the U.S. for liver resection surgeries. The CryoSeal FS System has received the CE-Mark which allows sales of the product throughout the European community.
SOURCE ThermoGenesis Corp.