RANCHO CORDOVA, Calif.,
Sept. 9, 2019 /PRNewswire/ -- Cesca
Therapeutics Inc. (Nasdaq: KOOL), a market leader in automated cell
processing and autologous cell therapies for regenerative medicine,
and ThermoGenesis, its wholly owned device subsidiary (the
"Company"), filed a Form 8-K last Friday with the Securities and
Exchange Commission announcing the signing of an exclusive, global
distribution agreement in which the Company will supply its
X-Series® cell processing products to a
leading, major life sciences distributor who will market them
globally. The X-Series products are major components of the
Company's CAR-TXpress™ platform, a semi-automated,
closed cellular processing platform used for high efficiency cell
purification and cell washing. The X-Series products, when
used in combination with the Company's proprietary buoyancy
activated cell sorting (BACS) technology, can be applied for both
research and commercial manufacturing of a large variety of
cell-based therapeutics, including chimeric antigen receptor-T
(CAR-T) cells.
Under the renewable, five-year agreement, the global distributor
will be responsible for marketing the X-Series products to
customers, worldwide, including existing X-Series customers, with
the exception of China for the
first two years. The Company will receive a $2 million upfront distribution fee, and future
market support for granting the exclusive rights.
"This agreement represents a major commercialization milestone
for the Company," said Dr. Chris Xu,
Chairman and Chief Executive Officer of Cesca Therapeutics. "Access
to an established, worldwide distribution network will expand the
awareness and sales of our cutting-edge CAR-TXpress technology,
thus extending our leadership beyond cord blood stem cell
processing and storage, which has been our main market. The
anticipated increased revenues will help us achieve sustained
profitability and allow the Company to focus its marketing efforts
on point-of-care cell processing and its R&D efforts on
completing our fully automated in-house cellular processing
services for the rapidly evolving cell therapy field."
About Cesca Therapeutics and Thermogenesis
Cesca
Therapeutics develops, commercializes and markets a range of
automated technologies for CAR-T and other cell-based therapies.
Its device division, ThermoGenesis develops, commercializes and
markets a full suite of solutions for automated clinical
biobanking, point-of-care applications, and automation for
immuno-oncology. The Company has developed a semi- automated,
functionally closed CAR-TXpress™ platform to
streamline the manufacturing process for the emerging CAR-T
immunotherapy market. For more information about Cesca and
ThermoGenesis, please visit: www.cescatherapeutics.com.
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.
Company Contact:
Wendy
Samford
916-858-5191
ir@thermogenesis.com
Investor Contact:
Paula
Schwartz, Rx Communications
917-322-2216
pschwartz@rxir.com
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SOURCE Cesca Therapeutics