Newly merged and renamed Cesca Therapeutics Inc. in Rancho Cordova is expected to begin trading on the Nasdaq stock market on Thursday.
Shares will be listed under the ticker symbol KOOL, also used under the local company’s former name, ThermoGenesis Corp.
ThermoGenesis announced Wednesday that it had finalized its merger with Los Angeles-based TotipotentRx Corp., a privately held firm that specializes in developing cell-based therapies in the field of regenerative medicine. The deal involved ThermoGenesis issuing nearly 12.5 million shares of common stock – reportedly valued at about $18.6 million – to TotipotentRx. Corp.
Cesca’s corporate headquarters is in Rancho Cordova. Cesca stands for “Clinical Excellence in Stem Cell Applications.”
CEO Matthew Plavan said the company’s products will give health care providers “the ability to consistently execute every step of the cell therapy treatment process, at the patient’s bedside, in less than 90 minutes and at a fraction of the cost of typical cell therapies.”
TotipotentRX has cell therapies in various stages of clinical development. The therapies target a range of serious medical problems and vascular/orthopedic diseases.
Call The Bee’s Mark Glover, (916) 321-1184.