ThermoGenesis Holdings Announces That ImmuneCyte Joint Venture Receives $3.0 Million Equity Investment

RANCHO CORDOVA, Calif., Jan. 3, 2020 /PRNewswire/ -- ThermoGenesis Holdings, Inc. (Nasdaq: THMO), a market leader in automated cell processing tools and services in the cell and gene therapy field, today announced that ImmuneCyte Life Sciences, Inc. (“ImmuneCyte”), an 80/20 joint venture between HealthBanks Biotech (USA) and ThermoGenesis, has closed a $3.0 million equity investment with a private institution. The investor received 600,000 shares of Class A common stock at $5.00 per share, representing a 5.66% ownership in the joint venture. As a result of this equity investment in ImmuneCyte, ThermoGenesis’ equity in the joint venture is no longer subject to the anti-dilution provision. After this investment, ImmuneCyte is owned 75.47% by HealthBanks Biotech (USA), 18.87% by ThermoGenesis Holdings and 5.66% by the private institution.

ImmuneCyte is a joint venture which was created in order to provide immune cell banking services to healthy customers, enabling them to store their healthy immune cells for potential future use in immunotherapies, leveraging ThermoGenesis’ proprietary CAR-TXpress™ platform and HealthBanks’ global, stem cell banking network. ImmuneCyte isolates healthy immune cells from 150-200ml of peripheral blood with a proprietary, automated cell processing platform developed by ThermoGenesis, which makes ImmuneCyte the first cell bank capable of processing immune cells under a functionally-closed and fully cGMP compliant environment, a quality control element which is essential for cell and gene therapies.

“The rapid closing of this equity investment in ImmuneCyte, only shortly after the establishment of the joint venture, reflects a significant interest in ThermoGenesis’ proprietary technology and the growth potential of ImmuneCyte’s business model,” said Chris Xu, PhD, Chief Executive Officer of ThermoGenesis. “We are excited by this latest investment, which will allow the joint venture to further accelerate its growth, while serving to increase the value of ThermoGenesis’ equity stake in the joint venture, long-term.”

About ImmuneCyte Life Sciences, Inc.
ImmuneCyte will provide clients with the opportunity to bank their own immune cells when the cells are “healthy and unaffected,” as a future resource for cellular immunotherapies, such as CAR-T. ImmuneCyte utilizes ThermoGenesis’ proprietary CAR-TXpress™ platform, a GMP compliant closed-system capable of automated separation and cryopreservation of different components from blood. For more information about ImmuneCyte Life Sciences Inc., please visit: www.immunecyte.com.

About ThermoGenesis Holdings, Inc.
ThermoGenesis Holdings, Inc., formerly known as Cesca Therapeutics Inc., develops, commercializes and markets a range of automated technologies for CAR-T and other cell-based therapies. The Company currently markets a full suite of solutions for automated clinical biobanking, point-of-care applications, and automation for immuno-oncology, including its semi-automated, functionally-closed CAR-TXpress™ platform, which streamlines the manufacturing process for the emerging CAR-T immunotherapy market. For more information about ThermoGenesis, please visit: www.ThermoGenesis.com.

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

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

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SOURCE ThermoGenesis Holdings, Inc.