ThermoGenesis cuts loss, rises $4.8 million:
This article was originally published in Clinica
Californian biomaterials company ThermoGenesis has raised $4.8m in private financing through the sale of 3.1 million shares to institutional investors. The designer, manufacturer and producer of devices used in processing therapeutically valuable blood components, has also issued three-year warrants to acquire an additional 11,976 shares. CEO Philip Coelho says the finance will be used for working capital and to bolster the company's bid for self-sufficiency. The Rancho Cordova's 2002 final year results showed an 18% decrease in net loss to $5m on sales up 65% at $9.5m.