Rancho Cordova-based medical equipment firm ThermoGenesis Corp. announced the signing of a five-year agreement to directly supply the San Bruno-based Cord Blood Registry with its AXP AutoXpress system.
The AXP AutoXpress system is a family of automated devices used for processing stem cells from umbilical cord blood. CBR bills itself as the world’s largest newborn stem cell company.
Previously, ThermoGenesis supplied CBR with the AXP system indirectly, through an independent North American distributor. CBR’s use of the AXP system dates back to 2006.
ThermoGenesis noted that the agreement with CBR is part of a strategic restructuring of its North American sales/distribution channel in which the company no longer relies on independent distributors, opting for customer supply agreements.
The company also announced that it has been informed by the Nasdaq stock market that its shares are once again in compliance with the minimum $1-per-share standard to avoid delisting.
Call The Bee’s Mark Glover, (916) 321-1184.