RANCHO CORDOVA, Calif., Sept. 9, 2019 /PRNewswire/ -- Cesca Therapeutics Inc. (Nasdaq: KOOL), a market leader in automated cell processing and autologous cell therapies for regenerative medicine, and ThermoGenesis, its wholly owned device subsidiary (the "Company"), filed a Form 8-K last Friday with the Securities and Exchange Commission announcing the signing of an exclusive, global distribution agreement in which the Company will supply its X-Series®cell processing products to a leading, major life sciences distributor who will market them globally. The X-Series products are major components of the Company's CAR-TXpress™ platform, a semi-automated, closed cellular processing platform used for high efficiency cell purification and cell washing. The X-Series products, when used in combination with the Company's proprietary buoyancy activated cell sorting (BACS) technology, can be applied for both research and commercial manufacturing of a large variety of cell-based therapeutics, including chimeric antigen receptor-T (CAR-T) cells.
Under the renewable, five-year agreement, the global distributor will be responsible for marketing the X-Series products to customers, worldwide, including existing X-Series customers, with the exception of China for the first two years. The Company will receive a $2 million upfront distribution fee, and future market support for granting the exclusive rights.
"This agreement represents a major commercialization milestone for the Company," said Dr. Chris Xu, Chairman and Chief Executive Officer of Cesca Therapeutics. "Access to an established, worldwide distribution network will expand the awareness and sales of our cutting-edge CAR-TXpress technology, thus extending our leadership beyond cord blood stem cell processing and storage, which has been our main market. The anticipated increased revenues will help us achieve sustained profitability and allow the Company to focus its marketing efforts on point-of-care cell processing and its R&D efforts on completing our fully automated in-house cellular processing services for the rapidly evolving cell therapy field."
About Cesca Therapeutics and Thermogenesis
Cesca Therapeutics develops, commercializes and markets a range of automated technologies for CAR-T and other cell-based therapies. Its device division, ThermoGenesis develops, commercializes and markets a full suite of solutions for automated clinical biobanking, point-of-care applications, and automation for immuno-oncology. The Company has developed a semi- automated, functionally closed CAR-TXpress™ platform to streamline the manufacturing process for the emerging CAR-T immunotherapy market. For more information about Cesca and ThermoGenesis, please visit: www.cescatherapeutics.com.
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. A more complete description of risks that could cause actual events to differ from the outcomes predicted by Cesca Therapeutics' forward-looking statements is set forth under the caption "Risk Factors" in Cesca Therapeutics' annual report on Form 10-K and other reports it files with the Securities and Exchange Commission from time to time, and you should consider each of those factors when evaluating the forward-looking statements.
Paula Schwartz, Rx Communications
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SOURCE Cesca Therapeutics