ThermoGenesis Corp. (Nasdaq: KOOLD), a leading supplier of innovative products and services that process and store adult stem cells, said today it has sold two BioArchive® Systems to HealthBanks Biotech Company, Ltd. (HealthBanks).
HealthBanks, which operates cord blood banks in Taiwan, Hong Kong, Thailand and the U.S., now has a total of 20 BioArchives and a storage capacity for cryopreserving and archiving cord blood stem cells of 60,000 units. HealthBanks also utilizes ThermoGenesis' AXP® AutoXpress™ (AXP) Platform, an automated device used for the processing of cord blood.
"We are pleased with our continued strengthening relationship with HealthBanks, as well as with the increased penetration in Asia. The region represents an important market opportunity for the Company as cord blood collection activity there is experiencing dramatic growth," noted J. Melville Engle, Chief Executive Officer of ThermoGenesis.
"We believe that the high cell recovery and viability achieved with the combined use of the AXP and BioArchive Systems plays a significant role in accelerating the time to patient engraftment," according to HealthBank's President Chang Hsiu-kang and Vice President of Operations Chen, Wei-Chun.
"We have a nearly decade-long relationship with HealthBanks and they are demonstrating the value of integrating our offerings -- the BioArchive and AXP -- as well as our manual bag sets, to create a model for the efficient and cost-effective collection of stem cells from cord blood that provides them the quality product and competitive advantages in the growing markets they serve," Engle noted.
"As we announced previously, the prior quarter was marked by strong BioArchive activity and we are encouraged that this trend appears to be continuing in the current quarter as well," he added.
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