RANCHO CORDOVA, Calif., June 12, 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 said its AXP® AutoXpress® System (AXP) has been selected by the United Kingdom's NHS Blood and Transplant (NHSBT) and will be implemented through a new, five-year exclusive agreement. NHSBT manages six cord blood collection facilities and operates a cord blood bank laboratory in Filton, Bristol, U.K. The Company expects to begin recording initial revenues under the agreement within the next several weeks.
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.
"We are achieving our goals to grow our cord blood business by increasing competitive share in Europe and increasing our footprint in developing markets, such as Asia. NHSBT represents both the second new cord blood bank customer for us in Europe over the last several months and a facility where we are replacing a competitor's automated system," said Matthew Plavan, Chief Executive Officer of ThermoGenesis. "We intend to leverage the momentum created by these strategic wins to convert several other cord blood banks in Europe to our automated systems," he continued.
"This is a strategically important win for us and further demonstrates the value of our integrated distribution strategy implemented last year. The United Kingdom Department of Health in collaboration with NHSBT has established new targets for both cell collection activity and cell counts processed from cord blood and is providing expanded funding to support cord blood collection programs over the next three years. As a result of these new targets and the funding program, the potential exists for a doubling of collection activity in the U.K.," said Hal Baker, Vice President of Commercial Operations of ThermoGenesis.
"We are looking forward to working with ThermoGenesis and utilizing the state-of-the art technology represented by the AXP to help meet our new ambitious cord blood processing and storage goals established by the Department of Health. We believe the proven efficacy of the AXP will facilitate our initiatives to expand collection activity," said Martin Guttridge, Head of Stem Cell Immunotherapy at NHSBT.
About NHS Blood and Transplant
NHS Blood and Transplant (NHSBT) is a joint England and Wales Special Health Authority. Its remit includes the provision of a reliable, efficient supply of blood components, diagnostic services and stem cell services to the NHS in England and North Wales. It is also the organ donor organisation for the UK and is responsible for matching and allocating donated organs.
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 separation and preservation of cell and tissue products. These include:
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, 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 year 2013, 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 2013. 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.