Healthcare Industry News: CryoSeal
News Release - April 3, 2006
Dr. John Chapman Named Vice President of Scientific AffairsRANCHO CORDOVA, Calif., April 3 (HSMN NewsFeed) -- ThermoGenesis Corp. (Nasdaq: KOOL ) announced today that John R. Chapman, Ph.D. has been promoted to the position of Vice President of Scientific Affairs.
Philip Coelho, Chief Executive Officer commented, "This promotion recognizes John's scientific expertise as well as his demonstrated ability to shape the strategic direction of ThermoGenesis' scientific organization." Mr. Coelho further noted, "John has been a strong addition to the management team and we look forward to his continued leadership in the development and execution of our scientific initiatives essential to new product development and product introductions at ThermoGenesis."
Dr. Chapman is an internationally published scientist in the field of blood systems development and pathogen inactivation of blood components, and has obtained 22 issued U.S. Patents and authored 32 scientific publications in the fields of blood processing, biologics, devices and chemistry.
Dr. Chapman commented, "I am looking forward to joining the senior management team as we transform the Company into a high growth, profitable enterprise by executing our strategy to develop blood processing products that utilize high margin single use disposables."
About ThermoGenesis Corp.
ThermoGenesis Corp. is a leader in developing and manufacturing automated blood processing systems and disposables that enable the manufacture, preservation and delivery of cell and tissue therapy products.
-- The BioArchive® System, an automated cryogenic device, is used by cord blood stem cell banks in 29 countries for cryopreserving and archiving cord blood stem cell units for transplant. -- The AutoXpress® System, is a newly developed semi-automated device and companion sterile closed blood processing disposable, to harvest stem cells from cord blood. -- The CryoSeal® FS System, an automated device and companion sterile blood processing disposable, is used to prepare hemostatic and adhesive surgical sealants from the patient's blood in about an hour. Enrollment in a 150-patient U.S. pivotal clinical trial has been completed and a PMA is being reviewed by the FDA. -- The Thrombin Processing Device(TM) (TPD(TM)) is a sterile blood processing disposable that prepares activated thrombin from a small aliquot of patient blood, or blood plasma in less than 30 minutes. The TPD market launch is underway in Europe.
This press release, including statements regarding financial information for future periods, contain forward-looking statements, and such statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual outcomes to differ materially from those contemplated by the forward-looking statements. Several factors, including timing of FDA approvals, changes in customer forecasts, our failure to meet customers' purchase order and quality requirements, supply shortages, production delays, changes in the markets for customers' products, introduction timing and acceptance of our new products scheduled for fiscal year 2006, and introduction of competitive products and other factors beyond our control, could result in a materially different revenue outcome and/or in our failure to achieve the revenue levels we expect for fiscal 2006. A more complete description of these and other risks that could cause actual events to differ from the outcomes predicted by our forward looking statements is set forth under the caption "Risk Factors" in our annual report on Form 10-K and other reports we file with the Securities and Exchange Commission from time to time, and you should consider each of those factors when evaluating the forward looking statements.
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