NEW BOARD MEMBER HAS CLINCIAL, CORPORATE AND REGULATORY EXPERIENCE IN STEM
CELL THERAPY FIELD
RANCHO CORDOVA, Calif., March 12 /PRNewswire-FirstCall/ -- ThermoGenesis Corp. (Nasdaq: KOOL), a leading supplier of innovative products that process and store adult stem cells, said today that Dr. Mahendra Rao, Vice President, Stem Cells and Regenerative Medicine at Invitrogen Corporation, has been named to the Company's board of directors. His appointment brings the Company's number of directors to six.
Dr. Rao has been involved in stem cell research for more than a decade. At Invitrogen, he heads the company's stem cell research and development program. Invitrogen offers more than 1,200 products tailored to various parts of the stem cell research workflow for embryonic and adult stem cell populations. He has held his current position with the company since January 2006. Before that, he was Stem Cell Section Chief and Senior Investigator at the National Institute on Aging's Laboratory of Neuroscience and is currently a visiting professor. He has also held associate professor positions at both the Johns Hopkins University and the University of Utah Schools of Medicine, and at the National Center for Biological Science in India.
Dr. Rao has served as Chairman of the FDA's Cell and Gene Therapy Advisory Committee and is the founder of Q Therapeutics, a company working on the development of cellular therapy to treat multiple sclerosis. Dr Rao has coauthored approximately 250 primary article, reviews, and editorials on different aspects of stem cell biology.
"Dr. Rao possesses extensive knowledge and expertise in the stem cell arena and brings a wide range of strong clinical, regulatory and academic experience to our Company. His presence in the regulatory and clinical areas will be of great value as ThermoGenesis pursues its regenerative medicine growth strategy," noted Dr. William Osgood, Chief Executive Officer of ThermoGenesis.
"I look forward to working with the Company's management team and its board. ThermoGenesis is recognized as a technology leader in its field and is implementing a well-thought out strategy to increase its presence in the regenerative medicine market," Dr. Rao stated.
Dr. Rao holds degrees from Bombay University in India and earned his Ph.D. from California Institute of Technology. He also conducted post-doctorate studies at Case Western Reserve University and Caltech.
About ThermoGenesis Corp.
ThermoGenesis Corp. (http://www.thermogenesis.com) is a leading supplier of
innovative products and services that process and store adult stem cells
for treatment of disease and injury. These products include:
-- The BioArchive(R) System, an automated cryogenic device, is used by
cord blood stem cell banks in more than 25 countries for cryopreserving
and archiving cord blood stem cell units for transplant. GE Healthcare
is the non-exclusive global distribution partner for the BioArchive
-- AXP(TM) AutoXpress Platform (AXP(TM)) is a proprietary family of
automated devices that includes the AXP and the MarrowXpress(TM) and
companion sterile blood processing disposable for harvesting stem cells
in a closed system. The AXP device is used for the processing of cord
blood. GE Healthcare is the exclusive global distribution partner for
the AXP cord blood product. The MarrowXpress is used for isolating
stem cells from bone marrow. ThermoGenesis sells the MarrowXpress
directly to global customers.
-- The CryoSeal(R) FS System, an automated device and companion sterile
blood processing disposable, is used to prepare fibrin sealants from
plasma in about an hour. We received FDA approval to market the
CryoSeal FS System in liver resection surgeries in July 2007. The
CryoSeal FS System has received the CE-Mark. From a marketing
perspective, the CE Mark is the European equivalent to an FDA approval,
in that it allows sales of the product throughout the European
community. Asahi Medical is the exclusive distributor for the CryoSeal
System in Japan and the Company markets through independent
distributors in Europe and South America.
-- The Thrombin Processing Device(TM) (TPD(TM)) is a sterile blood
processing disposable that prepares activated thrombin from a small
aliquot of plasma in less than 30 minutes. The CE-Marked TPD is
currently being marketed in Europe by Biomet, Inc., subsidiary Biomet
Biologics, Medtronic, Inc. and independent distributors.
This press release, including statements regarding financial
information for future periods, contain forward-looking statements, and
such statements are made pursuant to the safe harbour 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 year 2008, 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 2008. 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
Web site: http://www.thermogenesis.com
Contact: Investor Relations
|SOURCE ThermoGenesis Corp.|
Copyright©2008 PR Newswire.
All rights reserved