ThermoGenesis Announces California Facility with Potential for $10-16M Annual Revenue

ThermoGenesis Announces California Facility with Potential for $10-16M Annual Revenue

ThermoGenesis Holdings (Nasdaq: THMO) will roll out a new California facility containing 12, class-7, ReadyStart cGMP Suites that it will lease to early-stage life science and cell gene therapy companies.

The company’s share price rose by 103% in premarket trading following the announcement.

Cleanroom design, build, and management requires significant capital investment for early-stage companies. ThermoGenesis’ facility provides a turn-key solution for research and clinical development of cell gene therapy products.

Highlights

  • ThermoGenesis’ ReadyStart suites are expected to be available for customers in Q2 or Q3 2023.
  • When fully occupied, the facility is anticipated to generate an estimated $10-16 million in annual revenue.
  • The suites are located in a 35,500+ square foot cGMP facility that will meet the highest scientific, quality, and regulatory requirements.

The company’s ReadyStart Suites are part of a wider strategy to transform from a medical device company to a contract development and manufacturing organization in the cell gene therapy field.

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ThermoGenesis Announces California Facility with Potential for $10-16M Annual Revenue

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