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Featured Company News - Cesca Therapeutics Acquires Cell Processing Systems from SynGen through its Device Business, ThermoGenesis

Wednesday, 12 July 2017 07:10 AM

Pro-Trader Daily

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LONDON, UK / ACCESSWIRE / July 12, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Cesca Therapeutics Inc. (NASDAQ: KOOL), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=KOOL. The Company announced on July 10, 2017, that its wholly-owned subsidiary, ThermoGenesis Corp., has entered into an asset acquisition agreement with SynGen, Inc., a privately-held Sacramento, CA-based Technology Company, active in the cellular processing field. ThermoGenesis, a pioneer and market leader in the development and commercialization of automated technologies for cell-based therapeutics and bioprocessing, granted SynGen 20% of its common stock and paid a one-time cash payment of $1 million. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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The Announcement

The acquisition of SynGen closed on July 07, 2017, prior to which, the Cesca contributed the assets of its blood and bone-marrow processing device business to ThermoGenesis. Cesca, post the announcement, stated that it will operate its device business, along with the acquired business, through its subsidiary, i.e., ThermoGenesis. Philip H. Coelho, co-founder, and CTO of SynGen will resume his position at ThermoGenesis, effective immediately.

Mr. Coelho stated that:

"I am very pleased to join the ThermoGenesis team to further advance our combined portfolio of automated cell processing solutions that we believe will underpin many of medicine's most significant future advancements."

Cesca views this transaction as a step to enhance its automated cellular processing systems sector. The SynGen's portfolio of commercial products and intellectual property will help the Company to expand its presence in new markets, including immunology-oncology applications. Hence, the integrated product pipeline will enable ThermoGenesis to deliver a comprehensive suite of automated manufacturing solutions to CAR-T developers. Also, the Company plans to expand its portfolio of point-of-care and laboratory-based systems that have turned out to be the essential players in the rapidly-growing field of advanced medicine.

Company Growth Prospects

Cesca is a leading regenerative medicine Company that operates through its two divisions, namely: ThermoGenesis and Cesca Clinical, where it develops, commercializes and markets a portfolio of automated technologies for cell-based therapies. The Company's device segment, i.e., ThermoGenesis, offers a complete suite of solutions for automated clinical biobanking, point-of-care applications. Cesca utilizes its proprietary AutoXpress technology platform to develop autologous stem cell-based therapies to address patient needs in orthopedic, vascular and cardiology markets.

According to its recent Q3 FY17 financial results, reported on May 11, 2017, for the period ended March 31, 2017, the Company announced the establishment of ThermoGenesis Corp., to separately operate and manage Cesca's core business. Additionally, the Company closed an unsecured $5.0 million revolving line of credit with Boyalife Investment Fund II, providing non-dilutive funds to support ongoing growth initiatives, on March 13, 2017.

The Company also obtained an approval of IDE supplement from the US Food and Drug Administration for the Company's pivotal trial evaluating its point-of-care cellular processing technology for the treatment of Critical Limb Ischemia (CLI). The Company stated that these developments, along with the backing and resources of the Boyalife Group, position Cesca for success in the regenerative medicine business.

Last Close Stock Review

At the closing bell, on Tuesday, July 11, 2017, Cesca Therapeutics' stock tumbled 6.84%, ending the trading session at $3.54. A total volume of 109.47 thousand shares have exchanged hands, which was higher than the 3-month average volume of 37.40 thousand shares. The Company's stock price surged 8.92% in the last three months, 5.67% in the past six months, and 21.65% in the previous twelve months. Moreover, the stock gained 2.61% since the start of the year. The stock currently has a market cap of $34.83 million.

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