Cesca Therapeutics Acquires Remaining Ownership Stake in ThermoGenesis and Forms New ThermoGenesis Subsidiary, CARTXpress Bio, Inc., to Focus on its CAR-TXpress Cellular Processing Platfor...
CESCA THERAPEUTICS INC COMMON (KOOL)
Last cesca therapeutics inc common earnings: 8/13 04:05 pm
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Source: PR Newswire
RANCHO CORDOVA, Calif., Jan. 4, 2019 /PRNewswire/ -- Cesca Therapeutics Inc. (NASDAQ: KOOL), a market leader in automated cellular processing and autologous cell therapies for regenerative medicine, today announced that, under the terms of a reorganization and share exchange agreement approved by the Board of Directors, it has acquired from Bay City Capital (BCC) the remaining 20% equity share of its device subsidiary, ThermoGenesis Corp. In exchange, BCC has taken 20% ownership in a newly created subsidiary of ThermoGenesis called CARTXpress Bio, Inc. the remaining 80% of which is owned by ThermoGenesis. The reorganization and share exchange took effect on January 1, 2019.As a result, ThermoGenesis is now a wholly owned subsidiary of Cesca with a focus on the development and commercialization of automated medical devices and technologies for cell-based therapies, including stem cell banking, point-of-care applications, and large-scale cell manufacturing of immunotherapy drugs, such a
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