RANCHO CORDOVA, Calif., March 29, 2012 /PRNewswire/ -- ThermoGenesis Corp. (NASDAQ: KOOL), a leading supplier of innovative products and services that process and store adult stem cells, said today that its customer Beike Biotechnology Co., Ltd. (Beike) has become the first company in China to receive accreditation from the AABB (formerly the American Association of Blood Banks). AABB is an international, not-for-profit association representing nearly 2,000 institutions and 8,000 individuals involved in the fields of transfusion medicine and cellular therapies.
A leading stem cell and regenerative medicine company in China, Beike will be using ThermoGenesis' AXP® AutoXpress® (AXP) and BioArchive® Systems for the processing and storage of stem cells from cord blood. The Company expects the AXP device to receive registration approval in China during the current year.
Beike produces a full line of products derived from umbilical cord tissue, cord blood and bone marrow stem cells. It also operates three stand-alone cord blood processing and storage facilities, 18 specialized laboratories processing cord blood collection, five stem cell banks and two stem cell research laboratories.
"This AABB accreditation represents a major accomplishment for Beike and demonstrates its leadership position in China's regenerative medicine sector. It provides Beike a strong platform from which to further develop what we believe will be an increasingly prosperous cord blood stem cell market in China. We are pleased to be providing them our market leading tools to realize their strategy," said Matthew Plavan, Chief Executive Officer of ThermoGenesis.
"We are delighted to become the first bank in China to receive AABB accreditation for the processing and storage of cord blood and cord tissue. Our adoption of the AXP and BioArchive technologies is a critical component of our market vision to become the country's technology and quality leader in cord blood processing and storage," said Dr. Shengqin Ye, Chief Executive Officer of Beike.
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 include:
This press release contains forward-looking statements. 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 and foreign regulatory 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 2012, 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 2012. 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.
SOURCE ThermoGenesis Corp.