What Thermogenesis does

ThermoGenesis is a Rancho Cordova, California-based medical device company that develops and commercializes automated, closed-system cell processing and cryopreservation technologies for the cell and gene therapy field. Its product portfolio centers on the AXP II System (automated cord blood processing with >97% mononuclear cell recovery), the BioArchive System (robotic liquid nitrogen cryogenic storage with up to 94% post-thaw viability), and the X-SERIES line (X-LAB System plus 3D Bag Set for density-gradient-free cell separation), supported by proprietary software (XpressTRAK, DataTrak, Sample Management System) and recurring consumables (processing sets, freezing bags). The company has installed 700+ AXP Systems and 300+ BioArchive Systems across 37 countries and reports over 1 million cord blood units processed to date.

The business operates three revenue streams: capital equipment sales to cord blood banks, hospitals, and research institutions; recurring consumables tied to the installed base; and contract development and manufacturing (CDMO) services delivered from its 35,000+ sqft cGMP facility in Rancho Cordova. Sales are conducted through a direct field sales organization in the US and Canada and via an international distributor network. Pricing is quote-based with no public disclosure. The customer base consists of enterprise accounts in cord blood banking, clinical biobanking, hospitals, and cell and gene therapy developers.

ThermoGenesis has operated for over 35 years, holds ISO 13485:2016 certification and FDA establishment registration, and reports a regulatory audit history with zero failures. The company is publicly traded (NASDAQ: THMO) under ThermoGenesis Holdings, Inc., with leadership including Executive Chairman Dr. Chris Xu (founder of Boyalife Group) and CEO Haihong Zhu. The firm is small (11-50 employees) and has relied on a series of modest capital raises in recent years to fund development and commercialization.

Name

Thermogenesis

Legal name

ThermoGenesis Corp.

Website

https://thermogenesis.com

Company type

Public

Founded year

1989

Operating status

Operating

Headcount range

11–50 employees

Short description

ThermoGenesis develops automated, closed-system cell processing and cryopreservation devices (AXP II, BioArchive, X-LAB) plus proprietary consumables and software for cord blood banks, hospitals, and cell therapy developers, with CDMO services from its Rancho Cordova cGMP facility.

Ownership category

akta.pro rank

Product category

Cell Processing and Cryopreservation Equipment

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415)

SIC

Electromedical & Electrotherapeutic Apparatus (3845), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)

akta.pro primary industry

Cold Chain, Cryopreservation & Biologics Storage/Handling Technologies (HLAAAJAN)

akta.pro secondary industries

Sample Preparation, Storage & Cryogenics (Freezers, Cryovials, Cryostats) (HLAGAIAJ), Cell Therapy CDMO (HLAGABAD), Cold Chain Storage & Cryopreservation Services (LN2/Ultra-low) (HLAGAGAK)

Keywords

• Automated cell processing
• Cord blood banking
• Cryopreservation systems
• Cell therapy manufacturing
• Bioprocessing equipment

Headquarters

HQ city

Rancho Cordova

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Cell Processing Device Sales: Sale of capital equipment including AXP II Systems, BioArchive Systems, and X-LAB Systems to cord blood banks, hospitals, and research institutions.
2. Disposables and Consumables: Recurring revenue from single-use processing sets, bag sets, and freezing bags required for device operation. Products include AXP processing sets, 3D Bag Sets, and Freezing Bags.
3. CDMO Services: Contract development and manufacturing organization services from cGMP facility including cryo-storage, QC testing, and manufacturing support.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

ThermoGenesis develops, manufactures, and commercializes automated and semi-automated closed-system cell processing devices and cryopreservation systems for cord blood banks, hospitals, and cell therapy researchers. Its portfolio includes the AXP II System for cord blood processing, the BioArchive System for liquid nitrogen cryogenic storage, the X-LAB System for density gradient-free cell separation, and supporting disposables and software. The company also offers cGMP contract development and manufacturing (CDMO) services from its 35,000+ sqft facility in Rancho Cordova, California.

Product overview

ThermoGenesis develops and commercializes automated cell processing systems and devices for the cell and gene therapy field. The product portfolio centers on two core system families: the AXP System family (AXP II System) for automated cord blood processing with integrated XpressTRAK software, and the BioArchive System for cryogenic storage with Sample Management System (SMS) software. The X-SERIES product line (X-LAB System and 3D Bag Set) provides cell separation and processing for various blood products with DataTrak software. Supporting consumables include Freezing Bags for long-term cryopreservation storage. The company also offers cGMP CleanRoom services for contract manufacturing. All systems are designed as closed, automated solutions providing high cell recovery rates (>97% MNC recovery for AXP II, >90% for X-LAB) and are used across 37 countries with over 1 million cord blood units processed to date.

Differentiator

Problem solved

Functional benefit

Brands

• X-SERIES®: Product line comprising X-LAB® Cell Separation System and 3D Bag Set for cell isolation, selection workflows, and storage in cell and gene therapy applications.
• AXP® II System
• BioArchive® System

Products and services

• AXP II System An automated, fully closed, sterile cord blood processing system that volume-reduces umbilical cord blood to a user-defined volume in 30 minutes while retaining over 97% of mononuclear cells (MNCs). Self-powered and microprocessor controlled with flow control optical sensors for precise separation; sold to cord blood banks, hospitals, and research institutions.
• BioArchive System The industry-leading liquid nitrogen cryopreservation, tracking, and retrieval system using computer-controlled technology. Provides automated controlled-rate freezing and robotic storage at -196°C with up to 94% post-thaw cell viability and 3,600-sample capacity; for cord blood banks, biobanks, hospitals, and cell therapy programs.
• X-LAB System A semi-automated, closed processing system for rapid isolation and enrichment of mononuclear cells from bone marrow, peripheral blood, cord blood samples, frozen cells, or cell cultures. Uses sedimentation-based processing without density gradient media, achieving MNC recoveries consistently ≥90% in ~35 minutes; sold to researchers and biotech organizations.
• Freezing Bag A two-compartment, three-dimensional 25 mL freezing bag designed for long-term cryopreserved storage of concentrated blood components. Ensures homogenous, controlled freezing rate for maximum cell viability; sold as a consumable to users of ThermoGenesis cryopreservation systems.
• 3D Bag Set A single-use sterile disposable bag set for storage of concentrated buffy coat and addition of cryoprotectant. Contains a sterile filter and a two-compartment freezing bag for final sample storage with 24-26 mL recommended fill volume; consumable for X-SERIES users.
• CDMO Services Contract development and manufacturing organization services including cGMP manufacturing, cryo-storage, and QC testing delivered from the company's 35,000+ sqft facility in Rancho Cordova, California, with over 6,000 sqft of cGMP cleanroom space. Offered to cell and gene therapy developers needing compliant manufacturing capacity.

Quantifiable outcome

• 97.9% MNC recovery and 98.2% CD34+ cell recovery with AXP II System
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Market position

Weaknesses2 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/thermogenesis
• YouTubeyoutube.com/hashtag/thermogenesis
• Facebookfacebook.com/thermogenesisholdingsinc
• LinkedInlinkedin.com/company/thermogenesis-corp
• Instagraminstagram.com/thermogenesisholdingsinc/?hl=en

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds7 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Thermogenesis