ThermoGenesis Corp., a leading supplier of innovative products for processing and storing adult stem cells, announced it has signed a new distribution agreement with Fenwal, Inc., a global medical technology company focused on improving blood collection, separation, safety and availability. Under the exclusive five-year agreement, Fenwal will market and distribute the ThermoGenesis AXP AutoXpress (AXP) System and BioArchive System for use in cord blood processing and storage in China, India and Japan.
Fenwal is a leading global provider of manual and automated products for blood collection, separation and storage, specializing in the development and sale of medical technology and single-use, sterile medical products. Fenwal is based in Lake Zurich, IL, and serves blood and plasma centers and hospitals on five continents.
In August 2009, Fenwal and Golden Meditech agreed to form a joint venture in China to focus on blood collection and transfusion products. The deal is anticipated to be completed early this year, subject to the signing of a definitive agreement and other customary company and regulatory conditions. Golden Meditech owns and operates a range of health-care businesses in Asia. It has a majority stake in China Cord Blood Corporation, the largest cord blood bank operator in China, and is the single largest shareholder of Cordlife Ltd., the largest cord blood bank operator in Southeast Asia.
China is one of the fastest-growing markets for cord blood stem cell therapy and research. By partnering with Fenwal, ThermoGenesis intends to strengthen its presence in China, and position itself for growth in India and Japan.
The agreement with Fenwal follows the completion in late January of an enhanced distribution agreement with GE Healthcare for the AXP System. The agreement with GE Healthcare does not cover China, India or Japan.
"This agreement represents a significant milestone in our strategy to expand sales of our industry-leading cord blood devices and demonstrates the momentum we are building in regenerative medicine," said J. Melville Engle, chief executive officer of ThermoGenesis.
"We are delighted to be partnering with Fenwal, as they are a leader in blood collection and separation, and have a major global presence that can help grow our business," Engle added.
Stems cells have the potential to regenerate into cells that form all tissues and organs in the body. Transplantation of cord blood stem cells have been used in the treatment of numerous different diseases thus far, with leukaemia being among the most common followed by inherited diseases of red blood cells, the immune system and certain metabolic abnormalities. Patients with myelodysplasia, lymphoma and severe aplastic anaemia have also been successfully treated by transplantation with cord blood.
"Regenerative medicine is a growing field, and we are pleased to work with a leader such as ThermoGenesis," said Dean Gregory, Fenwal senior vice president of Global Commercial Operations. "ThermoGenesis offers advanced technology of growing interest to our customer base in Asia."
ThermoGenesis Corp. is a leader in developing and manufacturing automated blood processing systems and disposable products that enable the manufacture, preservation and delivery of cell and tissue therapy products.