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Cesca Therapeutics Announces Receipt Of $2 Million Upfront Distribution Fee

Cesca Therapeutics Announces Receipt Of $2 Million Upfront Distribution Fee

October 2, 2019
 

RANCHO CORDOVA, Calif., Oct. 2, 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"), announced today it has received the $2 million upfront distribution fee pursuant to its global distribution agreement, entered into as of August 30, 2019, for the X-Series® product line.  For details of the global distribution agreement, please refer to the Company's 8-K filed with the U.S. Securities and Exchange Commission on September 6, 2019.

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.

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.

Forward-Looking Statement
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.

Company Contact:
Wendy Samford
916-858-5191
ir@thermogenesis.com 

Investor Contact:
Paula Schwartz, Rx Communications
917-322-2216
pschwartz@rxir.com

Cision View original content:http://www.prnewswire.com/news-releases/cesca-therapeutics-announces-receipt-of-2-million-upfront-distribution-fee-300929424.html

SOURCE Cesca Therapeutics Inc.