ThermoGenesis Corp.
KOOL, a leading supplier of enabling technologies for the processing,
storage and administration of cell therapies, today said it has sold its
ThermoLine plasma freezer and thawer product line to Helmer Scientific for an
undisclosed sum of cash. ThermoGenesis received the payment during the quarter
ended December 31, 2012.
"As was the case with our divestiture of the CryoSeal product line in
mid-2012, this transaction is part of our long-term strategy to focus on our
core business of developing enabling technologies for the stem cell
regenerative medicine market," said Matthew Plavan, Chief Executive Officer of
ThermoGenesis.
"The proceeds from this transaction will be used to fund market development
programs for our cord blood and bone marrow stem cell processing and storage
offerings. In addition, this divestiture will reduce some operating costs and
free up internal resources that were previously used to provide customer
support and service for ThermoLine customers," he added.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: NewsAsset Sales
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in