ThermoGenesis has entered into a license and distribution agreement for its Res-Q 60 BMC (Res-Q) system with BioParadox, a newly-formed regenerative medicine company focusing on point-of-care cardiovascular therapies.
The Res-Q, a point-of-care system designed for the preparation of cell concentrates, is used to process stem cells from bone marrow aspirate and also produces Platelet Rich Plasma (PRP) from peripheral blood.
Under the agreement, ThermoGenesis will grant exclusive worldwide rights to BioParadox for using Res-Q technology to automate the preparation of PRP from peripheral blood, subject to BioParadox meeting certain milestones, including initiation and completion of clinical trials to support claims and maintain the rights.
ThermoGenesis has filed a form 510(k) with the FDA seeking market clearance for use of the Res-Q System technology in the preparation of PRP from peripheral blood.
ThermoGenesis CEO Melville Engle said that they believe this agreement represents a milestone in their initiative to create novel applications for their proprietary Res-Q technology.
“We have demonstrated in our laboratories that the Res-Q technology is well suited for the preparation of PRP, and expect to file our follow up 510(k) submission to the FDA within the next two weeks,” Engle said.
“The PRP market continues to grow and this agreement places ThermoGenesis and BioParadox in the middle of this emerging field.”