ThermoGenesis Corp. (Nasdaq: KOOL), a leading supplier of innovative products for processing and storing adult stem cells, announced today that it has signed two new distribution agreements that will further extend its global reach into Asia and Central and South America for its offerings in the bone marrow stem cell regenerative medicine market. The Company has now completed four new distribution agreements in the past 90 days, significantly enhancing its ability to market and sell its products throughout the world.
The first agreement is for the exclusive distribution of the Company's devices used in the process of stem cells from bone marrow, the MXP™ MarrowXpress™ and the Res-Q™60 BMC (Res-Q) Systems, covering India, Malaysia and Thailand. This agreement is with TotipotentSC, a distribution company with locations in the U.S. and India. The term of this agreement is three-years.
ThermoGenesis also announced the amendment of an exclusive distribution agreement with Comercio Exportacai e Importacao de Materiais Medicos Ltda. (CEI) to include the rights to market and distribute the Res-Q and MXP Systems in Mexico and Central and South American countries, including Brazil, Chile, Columbia, Costa Rica, Panama, Peru, Uruguay and Venezuela. The contract runs through May 2011.
"We are delighted to be working with these firms. Their addition to our marketing and distribution efforts provide ThermoGenesis with an enhanced presence in the growing worldwide regenerative medicine market. As a result of these agreements, and those completed over the past three months, we now have extensive coverage for our core offerings in major geographies throughout the world including our presence in the growing Asian market. Furthermore, we anticipate adding additional distributor relationships in the near-term," said J. Melville Engle, Chief Executive Officer of ThermoGenesis.
In late January, ThermoGenesis completed an enhanced distribution agreement with GE Healthcare for the AutoXpress AXP® System, excluding certain countries in Central and South America, Asia, CIS and Eastern Europe. In March, ThermoGenesis announced an agreement with Fenwal, Inc., to exclusively market and distribute the AXP and BioArchive® Systems for use in cord blood processing and storage in China, India and Japan.
"Establishing these types of relationships with leading distributors is an integral element of our strategy to achieve leadership in the adult stem cell processing and storage markets. It demonstrates the momentum we are building at the Company, while providing strong validation of our products and scientific innovation," Engle noted.
Located in the U.S. and India, TotipotentSC provides products and services specifically targeted to the regenerative medicine market. TotipotentSC was the first stem cell device and consulting company to establish a presence in India and now operates two facilities in the country, and has scientific advisors, including clinicians from the Albert Einstein College of Medicine, and the University of Texas MD Anderson Cancer Center.
CEI is a leader in its field and has more than 35 years experience in sales, marketing and manufacturing of medical devices, providing quality products and services throughout Latin America.
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