RANCHO CORDOVA, Calif., Dec. 23, 2013 (GLOBE NEWSWIRE) -- ThermoGenesis Corp. (Nasdaq:KOOL), a leading supplier of enabling technologies for the processing and storage of stem cells and other biological tissues, today announced it has entered into a long term agreement to provide its AXP® AutoXpress® System (AXP) to Bebevida, a leading cord blood stem cell bank in Portugal. The AXP System is a proprietary family of automated devices with companion sterile blood processing disposables for harvesting cord blood stem cells in closed systems.
"Bebevida is a leading cord blood bank that offers cryopreservation services of both umbilical cord blood stem cells and umbilical cord tissue of newborns for family purposes in Portugal," said Matthew Plavan, Chief Executive Officer of ThermoGenesis. "This is an important win for us, having replaced yet another competitor's automated cell processing system installation, further increasing our footprint in Europe. We expect to begin the AXP conversion in February 2014," he continued.
"We have conducted an extensive evaluation of the AXP which verified that ThermoGenesis' platform yields higher stem cell recoveries and lower and more desirable hematocrit levels than our existing product platform. We are pleased to partner with ThermoGenesis and look forward to implementing the AXP System," said Silvia Martins, Chief Executive Officer of Bebevida. "We have invested more than three million Euros in a new state-of-the art laboratory to establish a leading position in Portugal's cord blood market and believe the performance of the AXP will enable us to further our growth objectives," she added.
Plavan also said, "We are committed to expanding our presence in Europe, so it is important to have valued partners like Bebevida committed to the AXP System. We believe this is a testament not just to our technology, but to our customer-centric approach incorporating marketing, service and support for our cord blood products."
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 processing and preservation of cell and tissue concentrates. These include:
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.
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 MXP is used for the preparation of cell concentrates, including stem cells from bone marrow aspirates in the laboratory setting.
The Res-Q™ 60 BMC/PRP (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).
This press release contains forward-looking statements. 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 and foreign regulatory approvals, our ability to make the AXP conversion on a timely basis in February 2014 and our ability to expand our product presence in Europe. 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.
CONTACT: ThermoGenesis Corp.
Web site: http://www.thermogenesis.com
Source: ThermoGenesis Corp.