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ThermoGenesis’ Rapid COVID-19 Serological Test Kit Featured on FOX40 News Story Titled: “Rancho Cordova Company Develops Antibody Test to Detect COVID-19 in Minutes”

ThermoGenesis’ Rapid COVID-19 Serological Test Kit Featured on FOX40 News Story Titled: “Rancho Cordova Company Develops Antibody Test to Detect COVID-19 in Minutes”

 RANCHO CORDOVA, Calif., April 2, 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 it was featured on a FOX40 news segment titled, “Rancho Cordova Company Develops Antibody Test to Detect COVID-19 in Minutes,” regarding the Company’s SARS-CoV-2 (COVID-19) IgM/IgG Antibody Fast Detection Kit. Requiring just a single drop of blood, the Kit is intended for professional use and will deliver results — with no lab equipment necessary — in less than 10 minutes, at the point-of-care. The Kit is designed to allow pre-screening for COVID-19 infections as well as identification of individuals who have encountered the virus and have developed protective immunity.

As announced on March 31, ThermoGenesis is currently conducting validations of the SARS-CoV-2 (COVID-19) IgM/IgG Antibody Fast Detection Kit in accordance with the U.S. Food and Drug Administration (FDA) regulation, “Policy for Diagnostic Test for Coronavirus Disease – 2019 during the Public Health Emergency: Immediately in Effect Guidance for Clinical Laboratories, Commercial Manufacturers, and Food and Drug Administration Staff issued on March 16, 2020 for Serological Diagnostics.” The Company will notify the FDA upon completion of validation, prior to product launch.

The FOX40 News is accessible via the link below:

The Company has also updated its website to include information on the SARS-CoV-2 (COVID-19) IgM/IgG Antibody Fast Detection Kit. The website update is for educational purposes and will allow users to better understand how the antibody test works and how to evaluate the results. Please visit the link below:

“From the point that you have your blood dropped, three minutes later you know the results,”  Philip Coelho, chief technology officer at ThermoGenesis Corp., told FOX40. Mr. Coelho also noted that the FDA is fast-tracking products related to the virus “So, they’re particularly interested in encouraging the types of technologies that will help assist a safe transition back to a working state of the country,” Coelho said.

Inquiries from health professionals and the media about the Kit should be directed via email to ir@thermogenesis.com.

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, including statements regarding the intended use of net proceeds from the registered direct offering as well as those factors concerning our expectations, 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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