Cesca Therapeutics Buys SynGen's Operating Assets; Stock Up

(RTTNews) - Cesca Therapeutics Inc. (KOOL) said that its wholly-owned subsidiary, ThermoGenesis Corp., has entered into an asset acquisition agreement with SynGen Inc., a privately-held Sacramento, CA-based technology company active in the cellular processing field.

In the Monday's pre-Market trade, KOOL is currently trading at $3.79, up $0.54 or 16.62 percent.

ThermoGenesis acquired substantially all of SynGen's operating assets, including its proprietary cell processing platform technology. In exchange, ThermoGenesis granted SynGen 20% of its common stock and paid a one-time cash payment of $1 million.

Philip H. Coelho, co-founder and chief technology officer of SynGen, has joined ThermoGenesis in the same chief technology officer role, effective immediately. The acquisition closed on July 7, 2017.

Cesca will operate its device business through its ThermoGenesis subsidiary. A representative of SynGen's majority shareholder, Bay City Capital, has joined the Board of Directors of ThemoGenesis.