RANCHO CORDOVA, Calif., Aug. 6 /PRNewswire-FirstCall/ -- ThermoGenesis (Nasdaq: KOOL), a leading supplier of innovative products for processing and storing adult stem cells, today announced an expanded collaboration with Celling Technologies ("Celling"), a subsidiary of SpineSmith, LLC, related to the Company's bone marrow products, MXP(TM) MarrowXpress(TM) ("MXP") and Res-Q(TM) 60 BMC ("Res-Q"). Celling is a leading distributor of orthopedic products, based in Texas.
As part of this expanded collaboration, ThermoGenesis and Celling will share in the funding for clinical studies to demonstrate the clinical effectiveness of both the MXP and Res-Q Systems with Celling's orthopedic applications. Incremental funding for clinical studies will be provided by ThermoGenesis and Celling as MXP and Res-Q sales grow. Celling will be responsible for coordinating the clinical trials.
In a separate press release today, ThermoGenesis announced the launch of its Res-Q System, an automated cell processing medical device for the concentration of bone marrow-derived stem cells at the point of care. Celling will be the distributor for the Res-Q System in orthopedic applications.
Celling will also continue distributing the MXP System for the Company. The product is a microprocessor-controlled device and has a dedicated single-use disposable bag set for concentrating stem cells derived from bone marrow. It allows clinicians to automate blood volume reduction and facilitates cryopreservation of processed bone marrow aspirates. The bone marrow concentrates are used in spinal fusion procedures.
"Celling has done an excellent job of supporting the MXP and we look forward to working with them with the launch of Res-Q and with this broader collaboration agreement. We expect that positive study results will accelerate the market adoption of our bone marrow processing technologies and should increase product sales," said J. Melville Engle, Chief Executive Officer of ThermoGenesis.
"The quality of the MXP and the outcomes it has delivered in advancing the application of regenerative medicine therapy for patients undergoing spinal fusion procedures match the expectations we had when we agreed to partner with ThermoGenesis. We are delighted to be implementing programs with them to expand the use of the MXP in the treatment of orthopedic conditions, as well as participating in the launch of Res-Q," said Kevin Dunworth, Chief Executive Officer of SpineSmith, LLC.
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 products 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 2009 and 2010, 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 2010. 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.
ThermoGenesis Corp. Web site:http://www.thermogenesis.com Contact: Investor Relations +1-916-858-5107, or email@example.com
|SOURCE ThermoGenesis Corp.|
Copyright©2009 PR Newswire.
All rights reserved