Cesca Therapeutics Inc (NASDAQ: KOOL) shares faded by noon ET Wednesday, after the company disclosed that its device subsidiary has expanded into CAR-T related contract development and manufacturing services.
The company, based out of Rancho Cordova, California, announced that its ThermoGenesis device subsidiary has signed a license agreement with IncoCell Tianjin Ltd., a wholly-owned subsidiary of China-based Boyalife Group, for CAR-T related and other cellular processing CDMO services.
ThermoGenesis has granted IncoCell an exclusive license to purchase and use, at a discounted purchase price, X-Series™ cellular processing research devices, consumables and kits for use in the conduct of CDMO operations in certain Asia Pacific countries.
In exchange, ThermoGenesis is entitled to a percentage of IncoCell’s gross contract development revenues, including any potential upfront payments, future milestones or royalty payments.
Said Cesca CEO Chris Xu, "China is among the leading markets for CAR-T developers, and together with the U.S.,represent the two countries with the highest number of ongoing CAR-T clinical trials.
"This agreement with IncoCell signifies our first CDMO collaboration, and is consistent with our goal of expanding beyond off-the-shelf cellular processing solutions into higher-value contract manufacturing and development services."
Cesca develops, commercializes and markets a range of automated technologies for CAR-T and other cell-based therapies. Its device division, ThermoGenesis, provides a full suite of solutions for automated clinical biobanking, point-of-care applications, and automation for immuno-oncology.
Its shares approached lunch hour down just over five cents, or 1.7%, to $3.00.
