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RANCHO CORDOVA, Calif., Aug. 20, 2012 (GLOBE NEWSWIRE) -- ThermoGenesis Corp. (Nasdaq:KOOL), a leading supplier of enabling technologies for the processing, storage and administration of cell therapies, today said that it has signed a wide ranging product purchase and distribution agreement for its AXP
® (AXP) System used for the processing of stem cells from cord blood with Golden Meditech Holdings Limited ("Golden Meditech", 801.HK), a leading healthcare services enterprise in China and Southeast Asia.
In addition to being a leading developer of blood-related medical devices, Golden Meditech is affiliated with the first and largest umbilical cord blood bank operator in China.
Under the five-year agreement, Golden Meditech will have annual minimum purchase commitments and exclusive distribution rights for the AXP System in the People's Republic of China (excluding Hong Kong and Taiwan) and in Singapore, Indonesia, India and the Philippines once relevant approval has been obtained in each respective region.
"We are excited to partner with ThermoGenesis and through this collaboration, we will be able to assist cord blood banks across China and other Southeast Asia regions to streamline their operations and enhance their efficiency," said Mr. Yuen Kam, Chairman and Chief Executive Officer of Golden Meditech. "The AXP System delivers impressive results in terms of reliability, operation efficiency and effectiveness. With the support from the ThermoGenesis' management team, together, we will drive the adoption among cord blood banks in China and Asia, in turn, helping them to further enhance their competitiveness," Mr. Kam added.