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2013 Medical Device Manufacturer of the Year Finalists: ThermoGenesis and TotipotentRX
September 26, 2013
1 Min Read
The proposed merger between Thermogenesis and TotipotentRX would form a new regenerative medicine company to be called Cesca Therapeutics.
This summer, ThermoGenesis Corp., a maker of technologies for the processing and storing of stem cells and biological tissues, agreed to merge with privately held regenerative medicine company TotipotentRx Corp. The proposed new company, to be called Cesca Therapeutics, will take aim at “what is arguably the greatest opportunity in the history of healthcare, the multibillion-dollar markets emerging for curative regenerative medicine treatments,” Thermogenesis CEO Matthew Planavan said in the company’s recent year-end earnings call.
Both firms bring a lot to the table, including strong positioning in emerging markets. ThermoGenesis’s AXP System for harvesting stem cells from umbilical cord blood was recently approved in China, and TotipotentRX is the exclusive provider of cell-based products and services to Fortis Healthcare, a leading hospital chain in India.
Though Thermogenesis still reported a $3.1 million loss for its 2013 fiscal year, that’s down from $5 million in 2012.
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