Dallas, Texas 02/03/2014 (FINANCIALSTRENDS) – The The stock of $36 million market capped medical appliances & equipment manufacturer ThermoGenesis Corp (NASDAQ:KOOL) has shot up by an impressive 5.7 percent during trading on 31st January. This adds to the 115 percent increase in past one month and 124 percent increase in value during the past quarter.
This huge surge in the market valuation occurred post the announcement by ThermoGenesis Corp (NASDAQ:KOOL) that it has co-sponsored the phase 1 clinical trial of “Totipotent’s CLIRST (Critical Limb Ischemia Rapid Stem cell Therapy) treatment. These tests are being led by TotipotentRX Corporation which is a clinical-stage bio tech firm.
The Phase I tests were conducted to test out the efficacy and safety of the treatment process involving Totipotent’s CLIRST in treating patients “suffering from critical limb ischemia”. The two firms have announced that the tests conducted over a 12 month period had shown significant progress in treating the ailment in 5 broad areas and the survival rates in patients under treatment was seen to go up by a huge 82 percent. The tests in question were conducted on 17 enrolled patients at a hospital in New Delhi and were led by Dr. Suhail Bukari, Senior Consultant and Vascular Surgeon.
Commenting about the results from these yearlong trails, Dr. Bukari has been quoted to have said that, “This is a significant breakthrough for medicine as all the patients enrolled were scheduled for amputation of their afflicted limb prior to consenting to the stem cell intervention.” He further noted, “The simple kit process will enable any surgeon treating peripheral vascular disease to have a readily available safe and autologous therapeutic to reverse this debilitating disease.”
The joint development effort between by ThermoGenesis Corp (NASDAQ:KOOL) and TotipotentRX is turning out to be a Win Win situation for both firms involved thanks to the synergy that has been established between the two firms in the field of cell processing systems.