RANCHO CORDOVA, Calif., April 27, 2011 /PRNewswire/ -- ThermoGenesis Corp. (NASDAQ: KOOL), a leading supplier of innovative products and services that process and store adult stems cells, said BoyaLife, a major stem cell bank in China, has become the largest operating cord blood banking organization in the country to commit to the implementation of its AXP® AutoXpress™ (AXP) and BioArchive® Systems used to process and store stem cells from cord blood.
Located in Wuxi, China, the BoyaLife stem cell bank opened two years ago, and is the first and only bank in China to be in accordance with international design standards of the American Blood Bank Association. BoyaLife is currently developing capacity to store over a million stem cell units.
BoyaLife is one of the Company's three cord blood products customers in China. Two other operators of cord blood stem cell banks in China, Beike Biotechnology (Beike) and Nanshan Memorial Medical Institute (Nanshan), have recently purchased AXP and BioArchive Systems from ThermoGenesis and will be installing them in the near future.
"With the addition of BoyaLife, we now have three of China's leading stem cell banks as customers for our cord blood devices. Industry analysts expect the China cord blood market to surpass the U.S. and reach $2 billion later this decade, of which we estimate our addressable market is 10-15%. We are pleased with our increasing presence in this rapidly expanding market and our ability to realize a key element of the Company's growth strategy--the expansion of our offerings into new and potential high-growth markets," said J. Melville Engle, Chairman and Chief Executive Officer of ThermoGenesis.
"As we implement our aggressive stem cell storage expansion initiative, we are pleased to be partnering with ThermoGenesis. They are providing leading-edge technology to the cord blood
|SOURCE ThermoGenesis Corp.|
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