ThermoGenesis Expands Board of Directors with the Appointments of Dr. Biao Xi and Dr. James Xu

RANCHO CORDOVA, Calif., July 17, 2023 — ThermoGenesis Holdings, Inc. (Nasdaq: THMO), a market leader in automated cell processing tools and services in the cell and gene therapy field, today announced the appointments of Biao Xi, Ph.D. and James Xu, Esq., DBA, PsyD., J.D., CPA to its Board, effective July 17, 2023. Both are independent directors. The appointments expand ThermoGenesis’ Board to seven members.

“Biao is a highly regarded life science executive with extensive experience in biopharmaceutical research and drug development and James brings strong legal and business acumen, including more than 25 years in the field of patent, corporate and tax law. Together, their expertise will significantly strengthen our Board of Directors,” stated Chris Xu, Ph.D., Chief Executive Officer of ThermoGenesis. “I look forward to leveraging their valuable insights as we continue to transition into a high performance, integrated contract development and manufacturing organization (CDMO) in the cell and gene therapy field and as we continue to draw interest from early-stage life science and cell and gene therapy companies for our turnkey ReadyStart cGMP Suites, which we expect to be available in the third quarter of this year.”

Since March 2022, Dr. Xi has served as Chief Scientific Officer, Co-founder, and member of the Board of Miracure Biotechnology, a San Diego based, early-stage drug discovery company developing new drug candidates for oncology and immunology applications. From 2018 to 2021, Dr. Xi served as Chief Executive Officer at ImmunePoint Inc. and Vice President of Translational Study at Theragene Pharmaceuticals. From 2006 to 2018, he was Chief Scientist for China at ACEA Biosciences, an Agilent company. Dr. Xi was a Research Assistant Professor at Albert Einstein College of Medicine from 1999 through 2006. He earned a master’s degree from the Chinese Academy of Sciences and a Ph.D from Zhejiang University in China.

Dr. Xu is a practicing attorney and licensed CPA in the State of Illinois. He is also  a Patent Lawyer licensed by United States Patent and Trademark Office and has been practicing patent, corporate and tax law for more than 25 years. Previously, from November 2016 to December 2019, Dr. Xu served as a member of ThermoGenesis Holdings, Inc.’s Board of Directors and was a member of the X committee. Dr. Xu received a Master of Science in Electrical Engineering and an MBA from the University of Mississippi, J.D. and LLM degrees in Taxation from DePaul Law School, an LLM in Intellectual Properties and LLM in Information Technologies from John Marshall Law School, a Psy.D. from California Southern University, and a DBA from University of Missouri-St. Louis.

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. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained herein. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect” and similar expressions as they relate to the Company, or its management are intended to identify such forward-looking statements. Actual results, performance or achievements could differ materially from the results expressed in or implied by these forward-looking statements. Readers should be aware of important factors that, in some cases, have affected, and in the future could affect, actual results to differ materially from those expressed in any forward-looking statements made by or on behalf of the Company. These factors include without limitation, the ability to obtain capital and other financing in the amounts and at the times needed to launch new products and grow our CDMO business, market acceptance of new products, the nature and timing of regulatory approvals for both new products and existing products for which the Company proposes new claims, realization of forecasted revenues, expenses and income, initiatives by competitors, price pressures, failure to meet FDA regulated requirements governing the Company’s products and operations (including the potential for product recalls associated with such regulations), risks associated with initiating manufacturing for new products, failure to meet Foreign Corrupt Practice Act regulations, legal proceedings, risks associated with expanding into the Company’s planned CDMO business, uncertainty associated with the COVID-19 pandemic, and other risk factors listed from time to time in our reports with the Securities and Exchange Commission (“SEC”), including, in particular, those set forth in ThermoGenesis Holdings’ Form 10-K for the year ended December 31, 2022.

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

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