• ThermoGenesis Holdings Inc. (NASDAQ: THMO) is rolling out a new facility in the Sacramento metro area, containing 12 class-7, ReadyStart cGMP Suites available for lease by early-stage life science and cell gene therapy companies,

  • The roll-out of the ReadyStart Suites is part of ThermoGenesis’ previously announced plan to transform from a medical device company to a contract development and manufacturing organization in the cell gene therapy field.

  • The facility is expected to be available for customers in this year’s second or third quarter.

  • The company expects the facility to generate an estimated $10 million – $16 million in annual revenue if fully occupied.

  • In November, THMO reported a net revenue decline of 33% to $2.1 million for its Q3 ends September 30, 2022.

  • The ReadyStart Suites are in a 35,500+ square foot cGMP facility.

  • ThermoGenesis’ ReadyStart cGMP cleanrooms are ideal for early-stage companies looking to jump-start their development efforts and/or scale up in the same facility, providing a turnkey solution.

  • Furthermore, the suites will eliminate a tremendous resource burden and accelerate the development cycle by allowing the resident companies to focus on their core science.

  • Price Action: THMO shares are up 87.7% at $3.96 at the last check Wednesday.

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This article ThermoGenesis Rolls Out Manufacturing Suites For Use In Early-Stage Cell, Gene Therapy, Shares Soar originally appeared on Benzinga.com


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