Cesca Therapeutics Acquires the Cell Processing Systems of SynGen Under Asset Acquisition Agreement
CESCA THERAPEUTICS INC COMMON (KOOL)
Last cesca therapeutics inc common earnings: 8/13 04:05 pm
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Source: GlobeNewswire
RANCHO CORDOVA, Calif., July 10, 2017 (GLOBE NEWSWIRE) -- Cesca Therapeutics Inc. (NASDAQ:KOOL), a market leader in automated cell processing and point-of-care, autologous cell-based therapies, today announced that its wholly-owned subsidiary, ThermoGenesis Corp., has entered into an asset acquisition agreement (the “Agreement”) with SynGen Inc., a privately-held Sacramento, CA-based technology company active in the cellular processing field. ThermoGenesis acquired substantially all of SynGen’s operating assets, including its proprietary cell processing platform technology. In exchange, ThermoGenesis granted SynGen 20% of its common stock and paid a one-time cash payment of $1 million. Philip H. Coelho, co-founder and chief technology officer of SynGen, has joined ThermoGenesis in the same chief technology officer role, effective immediately. The acquisition closed on July 7, 2017. Immediately prior to the acquisition, Cesca contributed the assets of its blood and bone-marrow p
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