ThermoGenesis Holdings, Inc. (Nasdaq:THMO), formerly known as Cesca Therapeutics Inc., is a pioneer and market leader in the development and commercialization of automated cell processing technologies for the cell and gene therapy field. The company markets a full suite of solutions for automated clinical biobanking, point-of-care applications, and large scale cell processing and manufacturing for the emerging CAR-T immunotherapy market.

Our History

For more than two decades ThermoGenesis Holdings, Inc. has developed and commercialized novel cell processing systems and devices providing global researchers, biomanufacturing organizations and clinicians with highly efficient cell processing devices which helped them to deliver better outcomes in various applications in the cell and gene therapy field.

1987: ThermoGenesis Corp. (originally named Instacool Inc.) founded by Philip Coelho, in Rancho Cordova, CA.

1989: Launched the Thermoline® ultra-rapid blood plasma freezer and thawer product lines.

1996: Launched the Cord Blood Transfer/Freezing Bag set, co-developed with New York Blood Center (NYBC) for cord blood processing.

1998: Developed the BioArchive® System, a robotic, cGMP compliant, single cassette based liquid nitrogen cryostorage system designed to avoid transient warming events (TWE) and maintain cell viability. More than 300 BioArchive Systems are in use globally for storage of high value clinical samples including four sites in the US which are FDA approved Biological License Application (BLA) centers.

2005: Released the AutoXpress System (AXP®), to automate the cell processing and harvesting of hematopoietic stem cells from cord blood. Greater than 1 million cord blood units have been processed and stored worldwide since its launch.  

2007: Awarded FDA PMA approval for the CryoSeal FS System that produces fibrin sealant from a surgical patient’s own blood while in the surgical suite.

2013: Merged with the regenerative medicine company TotipotentRx and formed Cesca Therapeutics Inc.; expanding business focus into the regenerative medicine area while maintaining the ThermoGenesis brand as the company’s device division.

2016: Boyalife Group, a global diversified life science holding company, made a strategic investment in the Company and became the largest shareholder.

2017: Acquisition of SynGen Inc., a Sacramento based medical device company that develops buoyancy-activated cell sorting (X-BACS™) technology.

2018: Launched the CAR-TXpress™ Platform, a high efficiency, semi-automated manufacturing platform to support the manufacturing needs of cell and gene therapies, such as chimeric antigen receptor (CAR) T-cell treatments.

2019: Executed a global distribution agreement with Corning Life Sciences to distribute the X-SERIES® cell processing products.

2019: Formed the joint venture ImmuneCyte with Healthbanks Biotech (USA) to provide immune cell banking, and cell-based contract manufacturing services utilizing the CAR-TXpress™ Platform. 


Ensure the future benefit of cell and gene therapy to everyone in need through reduction of drug manufacturing cost and increased patient accessibility.



ThermoGenesis collaborates with leading academic institutions and industry partners to develop the best products for their specific processes. Co-developments are welcomed for new applications, or customizing off-the-shelf solutions based on our available technologies. To explore a partnership with ThermoGenesis, please contact our business development team.


Dr. Xu has served on ThermoGenesis Holdings’ board of directors since March 2016, and was appointed chairman and interim chief executive officer in November 2016 and CEO in August 2017. He brings over 15 years of leadership experience in the biopharmaceutical industry and has contributed to numerous successful product launches. In 2009, Dr. Xu founded Boyalife Group, a China-based diversified life sciences holding company and is currently the principal shareholder of ThermoGenesis Holdings. Prior to founding Boyalife, Dr. Xu served as a project leader at Pfizer, as a director of research at two publicly-traded companies and as a vice president at Founder Group, a Chinese technology conglomerate focused on information technology, pharmaceuticals, real estate, finance, and commodities trading. Dr. Xu’s expertise spans several diverse therapeutic areas, including arthritis & inflammation, cardiovascular disease, autoimmunity, oncology and diabetes. He has authored over forty publications and has been recognized by numerous professional societies for his contributions to biomedical research. Dr. Xu received his Ph.D. in immunology from Washington University School of Medicine (St. Louis, USA) and an executive MBA from Emory University (Atlanta, USA).

Mr. Coelho joined ThermoGenesis Holdings as chief technology officer from SynGen Inc. in July 2017, where he was CTO and co-founder. Mr. Coelho is an engineer and inventor who has been awarded more than 30 U.S. patents related to cell cryopreservation, cryogenic robotics, cell selection, blood protein harvesting, and surgical hemostasis.

Prior to co-founding SynGen, Mr. Coelho founded and ran several companies, including  ThermoGenesis Holdingsdevice division, ThermoGenesis Corp., where he also served as chairman and chief executive officer. At ThermoGenesis Holdings, he led the development of many of the company’s key products, including the Thermoline ultra rapid blood plasma freezers and thawers, the CryoSeal automated system for preparing fibrin sealant from a surgical patient’s blood, the BioArchive robotic system for controlled-rate freezing and cryogenically archiving units of hematopoietic stem and progenitor cells (HSPCs) derived from placental/cord blood and the AutoXpress System, which automates the sterile harvesting of HSPCs from cord blood into a 25 ml dual-compartment freezing bag. The BioArchive® and AutoXpress® Systems have defined cGMP standards in cord blood processing and banking worldwide.

In 2002, Mr. Coelho initiated an effort to obtain federal funding sufficient to allow qualified public cord blood banks to build a substantial inventory of ethnically diverse, clinical grade, cord blood stem cell units for all patients in need. Passed unanimously by Congress and signed by President Bush on December 19, 2005, the “Stem Cell Therapeutic and Research Act of 2005” authorized and began financing of a national inventory of 150,000 units of cryopreserved, HLA typed, cord blood stem cells and a website that allowed transplant physicians to choose optimal stem cell units for the treatment of blood cancers such as leukemia, myeloma, and lymphoma; inherited immunodeficiencies and marrow failure disorders and inherited disorders or errors of metabolism. During this last decade, Mr. Coelho has gathered detailed knowledge of the practices of the major public and private cord blood banks in 30 countries and has developed working relationships with many scientists, clinicians and directors associated with these cord blood banks.

As CTO of ThermoGenesis Holdings, Mr. Coelho is leading the development of new products for the clinical and research fields that improve the speed and efficiency of harvesting target cell populations resident within peripheral or placental/cord blood or bone marrow and washing/purifying ex-vivo expanded cell populations derived from those cells.

Mr. Coelho holds a Bachelor’s degree in mechanical engineering from the University of California, Davis.

Mr. Xu was appointed to the Board of Directors in November 2016 and in June 2018 joined ThermoGenesis Holdings management team as general counsel and Sr. Vice President of Legal Affairs. He is a practicing attorney and licensed CPA in the State of Illinois with over 18 year of experience in corporate operations strategy and litigation, including patent prosecution and litigation, intellectual property licensing, corporate strategic taxation planning, corporate restructurings and mergers and acquisitions. Mr. Xu has served as general counsel of the Boyalife Group since January 2010, and has also served on the boards of various Boyalife subsidiaries and related companies since January 2012. Mr. Xu received an M.S. in electrical engineering and an MBA from the University of Mississippi. He received a J.D. and a Master of Laws (LLM) in taxation from DePaul Law School, as well as an LLM in intellectual property and an LLM in information technologies from John Marshall Law School. Mr. Xu is a patent lawyer licensed by U.S. Patent and Trademark Office. He is licensed to practice in the U.S. Court of International Trade, as well as the U.S. District Court of Northern Illinois, the Seventh Circuit Court of Appeals, and the Illinois Supreme Court. 

Haihong Zhu, President, joined ThermoGenesis in 2004. Haihong brings over 20 years of technical and sales experience in stem cell research and has contributed significantly to the establishment of ThermoGenesis’ commercial presence in China. She started her career as a Research Scientist at Harvard Medical School Stem Cell Lab and BioTransplant, Inc.

Ms. Zhu graduated from the Shanghai University of Science & Technology with a Bachelor’s in Biology and also studied statistics at Boston University.

Mindy Wilke-Douglas, Vice President of Operations, joined ThermoGenesis in 2008. Mindy brings more than 20 years of operational management experience and extensive marketing experience in FDA-regulated biotechnology and medical device industries. Prior to her VP Operations role, she held the position of  Director of Customer Operations then Sr. Director of Commercial Operations at ThermoGenesis for 7 years using her worldwide experience in the biotechnology, medical device and cell therapy industries to establish complete commercial programs to nurture end customer and channel partner relationships while also providing leadership to multi-functional project teams.

Prior to joining ThermoGenesis, Mindy held several positions of increasing responsibility at Miltenyi Biotech (US division) where she served for 13 years to develop high-performing cross-functional sales, marketing, technical support and service teams. In addition, she served as an Adjunct Assistant Professor of Biological Sciences and a Research Scientist. Mindy holds a Bachelor’s in Bacteriology and a Master’s in Molecular Biology from the University of California, Davis.

Jeff Cauble, Principal Financial & Accounting Officer, joined ThermoGenesis Holdings in 2010. Jeff has served in various accounting management positions of increasing responsibility and brings over 19 years of accounting experience in various financial and managerial roles for companies such as Diamond Foods Inc. and E.&J. Gallo Winery. Jeff obtained a Bachelor’s in Accounting and Finance from the University of Idaho and is a Certified Public Accountant.

© 2019 ThermoGenesis Corp.
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