Boyalife Group investment hold the leader in the manufacture of automated blood and bone marrow processing systems

2018-03-06T00:09:01+00:00 February 16, 2016|

February 16, 2016 – Cesca Therapeutics Inc. (NASDAQ: KOOL) , today reported financial results for the second quarter of fiscal 2016 and provided an update to investors. The update included details of the closing of the previously announced $15 million strategic investment made in the Company by the Boyalife Group (“Boyalife”), a discussion of the scope of Boyalife’s healthcare-related business interests.

As previously disclosed in the Cesca’s Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on February 3, 2016 (the “Initial 8-K”), Cesca Therapeutics Inc. (the “Company”) entered into a Purchase Agreement (the “Purchase Agreement”) on February 2, 2016 with Boyalife Investment Inc.

Cesca also disclosed in the Company’s Current Report on Form 8-K filed with changes in control of registrant.The Boyalife Financing may result in a change of control of the Company. As a result of the Subsequent Closing and assuming the conversion of the Debentures and exercise of the Warrants in full, the Investors will own approximately 77% of the Company’s outstanding Common Stock on a fully-diluted basis.

“I am delighted that this transaction has now closed”, commented Robin C. Stracey, Cesca’s CEO. “In Boyalife we have a well-funded and strategically-oriented investment partner that sees great value-creation potential in our clinical programs and is committed to our success. We have only just begun to explore the potential synergies and opportunities for accelerated growth that may result from their involvement”, he added.

Cesca Therapeutics Inc. (www.cescatherapeutics.com) is engaged in the research, development, and commercialization of autologous cell-based therapeutics for use in regenerative medicine. The Company is a leader in the development and manufacture of automated blood and bone marrow processing systems that enable the separation, processing and preservation of cell and tissue therapy products.