RANCHO CORDOVA, Calif., Feb. 10, 2011 /PRNewswire/ -- ThermoGenesis Corp. (Nasdaq: KOOL), a leading supplier of innovative products and services that process and store adult stem cells, said today it has signed a product purchase agreement with Beike Biotechnology Co., Ltd ("Beike"), a leading stem cell and regenerative medicine company in China.
Under the agreement, ThermoGenesis will supply Beike with an initial stocking in fiscal 2011 of its AXP® AutoXpress® ("AXP") and BioArchive® Systems used in the processing and storage of stem cells from cord blood.
Beike is headquartered in Shenzhen, Guangdong Province, and has offices in several major China cities, including the China Medical City. Beike produces a full line of products derived from umbilical cord tissue, cord blood and bone marrow stem cells. Beike operates three stand-alone cord blood processing and storage facilities, 18 specialized laboratories that process cord blood collections, two stem cell research laboratories and five stem cell banks.
"We are delighted to be partnering with Beike, a regenerative medicine leader in China. The agreement taps us into the attractive and rapidly-growing Chinese market for cord blood collection and storage, including the development of stem cell-based therapies. We look forward to helping them further develop the market," said J. Melville Engle, Chairman and Chief Executive Officer.
The two organizations plan to collaborate on the development of new enabling technologies to maximize automation of the workflow process for the expansion of certain kinds of stem cells from umbilical cords and cord blood.
"Adopting the AXP and BioArchive technologies is an essential part of Beike's strategy to be the technology and quality leader in cord blood processing and storage in China," said Dr. Shengqin Ye, Chief Executive Officer of Beike. "Furt
|SOURCE ThermoGenesis Corp.|
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