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ThermoGenesis Announces Filing of Patent Applications for Device that Improves the Accuracy of Lateral Flow Immunoassays (LFIA) in the Detection of COVID-19 Antibodies

RANCHO CORDOVA, Calif., June 11, 2020 — ThermoGenesis Holdings, Inc. (Nasdaq: THMO), a market leader in automated cell processing tools and services in the cell and gene therapy field, announced today that the Company has filed patent applications for a point-of-care device which improves the speed and accuracy of lateral flow immunoassays (LFIA) to detect COVID-19 IgM and IgG antibodies from a single drop of blood. The applications for the COVID-19 LFIA reader have been filed in the United States in accordance with the recently announced USPTO COVID-19 prioritized examination Pilot Program under 37 CFR 1.102(e).

“Today’s LFIAs, in certain cases, are challenging for untrained users to properly read when results are indicated by weakly stained bands,” stated Phil Coelho, Chief Technology Officer of ThermoGenesis. “Variances among patients, if not read properly, could generate either false-negatives or false-positives. Additionally, in the large-scale screening environment, such as employer-sponsored screens of employees, record keeping by hand slows test administration and introduces the potential for recordkeeping errors.”

Mr. Coelho continued, “ThermoGenesis’ COVID-19 LFIA reader will enable the user to simply slide the test cartridge into a portable reader, providing an instant readout which can be immediately recorded into a corporate database, and/or a cloud-based web portal. This data will yield epidemiologically valuable insight into the evolution of the geographic distribution and spread of COVID-19 seropositivity in real time.”

 

About ThermoGenesis Holdings, Inc.
ThermoGenesis Holdings, Inc. develops, commercializes and markets a range of automated technologies for CAR-T and other cell-based therapies. The Company currently markets a full suite of solutions for automated clinical biobanking, point-of-care applications, and automation for immuno-oncology, including its semi-automated, functionally-closed CAR-TXpress™ platform, which streamlines the manufacturing process for the emerging CAR-T immunotherapy market. For more information about ThermoGenesis, please visit: www.thermogenesis.com.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect the current expectations of ThermoGenesis concerning future events and results. Forward-looking statements based on ThermoGenesis’ current assumptions, expectations and beliefs are generally identifiable by use of words “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue,” or similar expressions and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. Such forward-looking statements involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, market and other conditions, as well as those risk factors discussed in Item 1A of our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) as well as other documents that may be filed by ThermoGenesis from time to time with the SEC, which are available at www.sec.gov. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.

Company Contact:
Wendy Samford
916-858-5191
ir@thermogenesis.com

Investor Contact:
Paula Schwartz, Rx Communications
917-322-2216
pschwartz@rxir.com

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