Thermogenesis, TotipotentRx Corp. deal

ThermoGenesis and regenerative medicine company TotipotentRx will merge in a deal expected to close next quarter. The newco is expected to be named Cesca Therapeutics and will continue to trade on NASDAQ under the ticker "KOOL." TotipotentRx stockholders will receive about 31.1 ThermoGenesis shares for every TotipotentRx share held. Following the merger, former TotipotentRx shareholders will own about 12.5 million ThermoGenesis shares, or a 43% stake in the newco. The stake is valued at about $18.6 million based on ThermoGenesis' close of $1.49 on July 15, before the merger was announced. The boards of both companies have unanimously approved the deal. Matthew Plavan, CEO of ThermoGenesis, will be CEO of the newco, and Kenneth Harris, chairman and CEO of TotipotentRx, will be president and a director. TotipotentRx includes a therapeutics division with a pipeline of eight autologous stem cell therapies utilizing TotiCell technology, a CRO division and a cell manufacturing and banking services division. The company's pipeline includes therapies in Phase Ib testing for primary myocardial infarction (MI) and critical limb ischemia (CLI) and a rapid autologous platelet cell therapy slated to begin a Phase II trial in osteoarthritis (OA) next quarter. ...