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ThermoGenesis Corp. Reports First Quarter 2008 Results
Date:11/8/2007

althcare (GEHC), which were significantly below plan. "We are having highly productive discussions with GEHC on how to improve their sales effort and I believe we will be on a course for achieving greater BioArchive activity on a quarterly basis moving forward," Osgood said.

"We are also pleased to have received 510(k) clearance of our AXP for cord blood processing as it ensures that we will be in full compliance with imminent FDA regulatory requirements for cord blood processing and because we believe this clearance will facilitate regulatory approval and registration efforts for the AXP outside the U.S.," he noted.

Osgood indicated that the Company plans to launch a new version of the AXP for bone marrow processing and is preparing a 510(k) submission for this indication.

"We have had very encouraging feedback from the clinical community regarding the use of the AXP for autologous bone marrow stem cell therapeutics. In addition, data reported at the American Association of Blood Banks meeting last month demonstrated compelling results regarding recovery of cells using the device."

In regards to succession planning, governance and growth, on July 27, 2007, the Company appointed William Osgood as our new Chief Executive Officer (CEO), and our former Chief Executive Officer assumed the role of Chief Technology Architect. Incident to this change, we also appointed Dr. Hubert Huckel as a non-executive Chairman of the Board of Directors. We continue to pursue additional independent directors through an executive search firm retained by the Governance & Nominating Committee.

"Since assuming the CEO position, I have been implementing new strategies to enhance our financial performance. With our improved AXP bag set quality and new initiatives in the regenerative medicine arena, we are making progress on many important fronts and believe our results in the remainder of fiscal 2008 will reflect the value of our new initiatives," Osgood noted.'/>"/>

SOURCE ThermoGenesis Corp.
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