RANCHO CORDOVA, Calif., July 24 /PRNewswire-FirstCall/ -- ThermoGenesis Corp., , a leading supplier of innovative products and services that process and store adult stem cells, said today that it has added 10 new distributors for its BioArchive System covering a number of key geographies outside the U.S. Three of the distributors will also have the rights for the Company's AutoXpress(TM) (AXP(TM)) Platform. The BioArchive is used for cryopreserving and archiving of stem cells and tissue, while the AXP is used for harvesting stem cells in a closed system from umbilical cord blood.
The addition of these new distributors follows the Company's announcement in May that it had restructured its international distribution agreement with GE Healthcare (GEHC) effective July 1, 2008. GEHC returned worldwide rights to distribute the BioArchive System to ThermoGenesis, while continuing as exclusive distributor of AXP Platform products for cord blood applications in geographies outside of South America, Central America, Russia and China -- excluding Hong Kong and Taiwan.
The markets covered under these new BioArchive distribution agreements include the United Kingdom, Russia, the Baltic region, China, Hong Kong, South Korea, a number of Middle Eastern and African countries and Central and South America. In addition, the agreements add AXP distributors in Russia, China, and Central and South America. ThermoGenesis will sell the BioArchive direct in North America.
"Our ability to achieve these agreements in a short period of time speaks not only to the effectiveness of our sales organization, but also to the potential market opportunity for our offerings," noted Dr. William Osgood, Chief Executive Officer of ThermoGenesis.
"We are particularly encouraged by the fact that many of these distributors previously sold one or more of our offerings -- including a number that were previously successful selling the BioArchive -- and have developed solid relationships with the market in their respective geographies. As a result, we expect minimal disruption to our selling efforts during this transition," he added.
"We will continue to fill out distributor relationships in additional geographies -- including the Scandinavian countries -- over the coming months, and are initiating discussions with potential distribution organizations regarding our recently-authorized MarrowXpress(TM) (MXP(TM)) device, which is for use in a clinical laboratory setting or intraoperatively for preparation of a cell concentrate from bone marrow. At the same time," he continued, "we are having ongoing discussions with GEHC about other potential areas of regenerative medicine that we can develop jointly."
About ThermoGenesis Corp.
ThermoGenesis Corp. (http://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 products include:
-- The BioArchive(R) System, an automated cryogenic device, is used by cord blood stem cell banks in more than 25 countries for cryopreserving and archiving cord blood stem cell units for transplant.
-- AXP(TM) AutoXpress Platform (AXP(TM)) is a proprietary family of automated devices that includes the AXP and the MarrowXpress(TM) and companion sterile blood processing disposable for harvesting stem cells in a closed system. The AXP device is used for the processing of cord blood. GE Healthcare is the exclusive global distribution partner for the AXP cord blood product except for Central and South America, China and Russia/CIS, where ThermoGenesis markets through independent distributors. The MarrowXpress is used for isolating stem cells from bone marrow. ThermoGenesis sells the MarrowXpress directly to global customers.
-- The CryoSeal(R) FS System, an automated device and companion sterile blood processing disposable, is used to prepare fibrin sealants from plasma in about an hour. The CryoSeal FS System is approved in the U.S. for liver resection surgeries. The CryoSeal FS System has received the CE-Mark which allows sales of the product throughout the European community. Asahi Medical is the exclusive distributor for the CryoSeal System in Japan and the Company markets through independent distributors in Europe and South America.
-- The Thrombin Processing Device(TM) (TPD(TM)) is a sterile blood processing disposable that prepares activated thrombin from a small aliquot of plasma in less than 30 minutes. The CE-Marked TPD is currently being marketed in Europe by Biomet, Inc., subsidiary Biomet Biologics, Medtronic, Inc. and independent distributors.
This press release contains forward-looking statements, and such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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 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 2009, 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 2009. 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.
CONTACT: Investor Relations, +1-916-858-5107, ir@thermogenesis.com, of
ThermoGenesis Corp.
Web site: http://www.thermogenesis.com/
