RANCHO CORDOVA, Calif., June 12, 2013 (GLOBE NEWSWIRE) -- ThermoGenesis Corp. (Nasdaq:KOOL), a leading supplier of enabling technologies for the processing and storage of stem cells and other biological tissues, today said its AXP® AutoXpress® System (AXP) has been selected by the United Kingdom's NHS Blood and Transplant (NHSBT) and will be implemented through a new, five-year exclusive agreement. NHSBT manages six cord blood collection facilities and operates a cord blood bank laboratory in Filton, Bristol, U.K. The Company expects to begin recording initial revenues under the agreement within the next several weeks.
The AXP System is a proprietary family of automated devices with companion sterile blood processing disposables for harvesting cord blood stem cells in closed systems.
"We are achieving our goals to grow our cord blood business by increasing competitive share in Europe and increasing our footprint in developing markets, such as Asia. NHSBT represents both the second new cord blood bank customer for us in Europe over the last several months and a facility where we are replacing a competitor's automated system," said Matthew Plavan, Chief Executive Officer of ThermoGenesis. "We intend to leverage the momentum created by these strategic wins to convert several other cord blood banks in Europe to our automated systems," he continued."This is a strategically important win for us and further demonstrates the value of our integrated distribution strategy implemented last year. The United Kingdom Department of Health in collaboration with NHSBT has established new targets for both cell collection activity and cell counts processed from cord blood and is providing expanded funding to support cord blood collection programs over the next three years. As a result of these new targets and the funding program, the potential exists for a doubling of collection activity in the U.K.," said Hal Baker, Vice President of Commercial Operations of ThermoGenesis.
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