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- GE Healthcare
will have the exclusive global distribution rights to a stem cell extraction technology under the terms of a 15-year agreement with its developer, ThermoGenesis
Under the terms of the deal, GE will supply the stem cell harvesting product, known as the Auto Express System, to the Cord Blood Registry
, one of the world's largest chains of private umbilical cord blood banks. The AXP System extracts stem cells from the umbilical cords of newborns.
GE Healthcare also won the exclusive right to distribute the ThermoGenesis BioArchive System, a computer-controlled cryopreservation and storage system for cord blood.
ThermoGenesis, which is based in Rancho Cordova, Calif., develops technologies for the blood processing and the hospital and wound-care markets. The company expects to earn $50 million over the life of the worldwide distribution agreement.
The Cord Blood Registry, which is based in San Bruno, Calif., offers parents an opportunity to cryogenically store stem cells derived from cord blood, marketing them as powerful medical resources to treat severe illnesses that may develop among their children and their family members.
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