Business & Real Estate

Rancho Cordova’s Cesca gets Taiwan approval for stem-cell system

Cesca Therapeutics Inc., a Rancho Cordova-based medical equipment firm, said Monday that it has received approval in Taiwan for the sale and distribution of its AXP AutoXpress system.

The system is a family of automated devices used for processing stem cells from umbilical cord blood. Approval came from the Taiwan Food and Drug Administration.

In a statement accompanying the announcement, Cesca CEO Matthew Plavan said “Taiwan is an important region for us as we continue to expand our presence and drive to new market share gains in Asia.”

The approval announcement coincided with Cesca’s release of quarterly financials.

For its fiscal fourth quarter ended June 30, Cesca reported a loss of $2.9 million, compared with a loss of $2.4 million in the same period a year ago. The local company cited lower sales in its cord blood product lines and increased costs associated with advancing cell therapy programs in advance of anticipated clinical trials. For the year ended June 30, Cesca’s net loss was $8.6 million, compared with a loss of $3.1 million the prior year.

Cesca formerly operated as ThermoGenesis Corp. but was renamed earlier this year after finalizing its merger with Los Angeles-based TotipotentRx Corp., which specializes in developing cell-based therapies in the field of regenerative medicine.