ThermoGenesis Unveils Comprehensive Suite of Products and Services to Fight the Global COVID-19 Pandemic

Rhea-AI Summary

On September 2, 2020, ThermoGenesis Holdings (Nasdaq: THMO) partnered with its joint venture, ImmuneCyte, to launch a comprehensive suite of products aimed at combating the COVID-19 pandemic. This strategy includes both diagnostics and therapeutics, enhancing disease detection and treatment. Key elements involve the development of various RT-PCR and antigen tests, complementing the already authorized SARS-CoV-2 IgM/IgG Antibody Test Kit. The initiative positions ThermoGenesis as a one-stop solution for COVID-19 testing and treatment, as discussed in their presentation at the LD Micro 500 Conference.

Positive

• Launch of comprehensive diagnostic and therapeutic product line for COVID-19.
• Development of RT-PCR and antigen test products to enhance current offerings.
• Emergency Use Authorization for the SARS-CoV-2 IgM/IgG Antibody Test Kit.
• Plans for full CLIA certified lab testing services, enhancing service offerings.

Negative

• None.

RANCHO CORDOVA, Calif., Sept 2, 2020 /PRNewswire/ -- ThermoGenesis Holdings, Inc. (Nasdaq: THMO), a market leader in automated cell processing tools and services in the cell and gene therapy field, along with its joint venture, ImmuneCyte, Inc. today announced plans to roll out a comprehensive diagnostic and therapeutic product line to fight the global COVID-19 pandemic. The multi-pronged strategy will combine diagnostic, therapeutic and service offerings to better detect, track and fight the novel coronavirus. Details regarding the strategy will be included in the company's presentation at the LD Micro 500 Conference on Wednesday, September 2 at 5 p.m. EST.

A live webcast of the presentation will be available on the ThermoGenesis website at: https://ThermoGenesis.com/investors/news-and-events/events-webcasts.
An archived replay will be available for a period of 90 days after the conference.

The spread of COVID-19, both domestically and internationally, has led to a significant unmet need for rapid disease diagnosis, systematic serological surveillance and improved therapeutics, to precede and complement the introduction of vaccines. In response, ThermoGenesis, along with its joint venture ImmuneCyte, is developing a comprehensive list of RT-PCR and antigen test products to complement its SARS-CoV-2 IgM/IgG Antibody Test Kit, which has already been granted Emergency Use Authorization (EUA).  The joint venture also plans to offer full CLIA certified lab testing services to its clients, making ThermoGenesis a one-stop shop for all testing needs. Additionally, the ImmuneCyte joint venture is actively developing a robust therapeutic pipeline to treat COVID-19.

"The comprehensive diagnostic and therapeutic product pipeline we envisage for COVID-19 will facilitate ThermoGenesis' ability to become a one-stop solution for our customers," stated Chris Xu, Ph.D, Chairman and Chief Executive Officer of ThermoGenesis. "This multi-pronged approach, we believe, will be critical to reopening the economy, tracking the virus, and minimizing the loss of life as we continue to develop and expand our product solutions for COVID-19."

About ThermoGenesis Holdings, Inc.
ThermoGenesis Holdings, Inc. develops, commercializes, and markets a range of automated technologies for CAR-T and other cell-based therapies. The Company currently markets a full suite of solutions for automated clinical biobanking, point-of-care applications, and automation for immuno-oncology, including its semi-automated, functionally-closed CAR-TXpress™ platform, which streamlines the manufacturing process for the emerging CAR-T immunotherapy market. For more information about ThermoGenesis, please visit: www.thermogenesis.com.

About ImmuneCyte, Inc.
ImmuneCyte, Inc., is a joint venture which 19% owned by ThermoGenesis. The Company develops various immunological products and services and provides clients the opportunity to bank their own immune cells when the cells are "healthy and unaffected" as a future resource for cellular immunotherapies, such as CAR-T. ImmuneCyte utilizes a proprietary CAR-TXpress™ platform, a GMP compliant close-system capable of automated separating and cryopreserving different components from blood, simultaneously. For more information about ImmuneCyte, Inc., please visit: www.immunecyte.com.   

Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect the current expectations of ThermoGenesis concerning future events and results. Forward-looking statements based on ThermoGenesis' current assumptions, expectations and beliefs are generally identifiable by use of words "may," "might," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue," or similar expressions and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. Such forward-looking statements involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, market and other conditions, as well as those risk factors discussed in Item 1A of our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") as well as other documents that may be filed by ThermoGenesis from time to time with the SEC, which are available at www.sec.gov. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.

Company Contact:
Wendy Samford
916-858-5191
ir@thermogenesis.com

Investor Contact:
Paula Schwartz, Rx Communications
917-322-2216
pschwartz@rxir.com

 

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SOURCE ThermoGenesis Holdings, Inc.

FAQ

What products is ThermoGenesis developing for COVID-19?

ThermoGenesis is developing RT-PCR and antigen tests, along with a SARS-CoV-2 IgM/IgG Antibody Test Kit that has received Emergency Use Authorization.

What is the significance of the partnership between ThermoGenesis and ImmuneCyte?

The partnership aims to create a comprehensive suite of diagnostic and therapeutic products to address COVID-19, enabling ThermoGenesis to become a one-stop solution for testing and treatment.

When will ThermoGenesis present its COVID-19 strategy?

ThermoGenesis will present its COVID-19 strategy on September 2, 2020, at the LD Micro 500 Conference.

How does ThermoGenesis plan to address COVID-19 testing needs?

ThermoGenesis plans to offer a range of testing services, including RT-PCR and antigen tests, along with CLIA certified laboratory testing services.

What is the goal of ThermoGenesis and ImmuneCyte's new product line?

The goal is to improve disease detection, treatment, and tracking of COVID-19 to help manage and mitigate the pandemic.