On February 3, 2016, Cesca Therapeutics (NASDAQ:KOOL) released news that Boyalife Group was making a $15 million strategic investment in the company.
Stock priced jumped following the news, although it has since been volatile.
Located in Rancho Cordova, California, Cesca Therapeutics specializes in the research, development, and commercialization of autologous cell-based therapeutics for regenerative medicine applications. With the stem cell and cord blood marketplace, the company is best known for it automated blood and bone marrow processing systems, such as the AutoXpress® Platform (AXP®), the MarrowXpress® Platform, the BioArchive® System, and others.
On the other hand, Boyalife Group is best known for its cloning technologies, although it describes itself as involved with “stem cell technologies, regenerative medicine, genomics and cloning, cancer immune therapies, disease mechanistic studies and innovative drug discovery.”
As stated in the press release:
“Cesca Therapeutics Inc. (NASDAQ:KOOL), an autologous cell-based regenerative medicine company, today announced that affiliates of Boyalife Group have agreed to invest $15.0 million in the Company (the “Boyalife Financing”), enabling the Company to repay currently outstanding senior secured convertible debentures and retire associated Series B Warrants. The investments will also provide additional working capital to fund the Company’s ongoing operations and strategic initiatives.”
Additionally, Dr. Xiaochun Xu, Chairman and CEO of Boyalife Group commented:
“This investment lays the foundation for what we see as a strong and continuing strategic alliance between our two companies. Beyond Cesca’s existing pipeline of autologous cell-based therapies, this partnership has the potential to enable access to a much broader scope of clinical applications as well as accelerate penetration of the 1.3 billion person market in China.”
To learn more, visit www.CescaTherapeutics.com.
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