Cesca Therapeutics forms JV with Healthbanks Biotech
Cesca Therapeutics and ThermoGenesis, its wholly owned device subsidiary, announced that the company has entered into a definitive joint venture agreement with HealthBanks Biotech to commercialize its proprietary cell processing platform, CAR-TXpress, for use in immune cell banking as well as for cell-based contract development and manufacturing services, or CMO/CDMO. The joint venture will be named ImmuneCyte Life Sciences and is expected to officially launch during the fourth quarter of 2019. Under terms of the agreement, ImmuneCyte will initially be owned 80% by HealthBanks Biotech and 20% by Cesca. Cesca will contribute to ImmuneCyte exclusive rights to use ThermoGenesis' proprietary cell processing technology for the immune cell banking business and non-exclusive rights for other cell-based contract development and manufacturing services. Cesca will also contribute its clinical development assets to the joint venture, as the company has decided to discontinue these activities in order to focus exclusively on the device business.