ThermoGenesis and ImmuneCyte Joint Venture Developing Several Convalescent Plasma and Antibody Therapeutic Approaches Against COVID-19, Featured on…

RANCHO CORDOVA, Calif., April 24, 2020 /PRNewswire/ --ThermoGenesis Holdings, Inc.Holdings, Inc. (Nasdaq: THMO), a market leader in automated cell processing tools and services in the cell and gene therapy field, announced today that it was featured on multiple new outlets, including a FOX40 news segment titled, "Rancho Cordova Company Says It's Working on Potential Treatment for Coronavirus," regarding the ThermoGenesis and ImmuneCyte joint venture and its research collaborator's efforts toward developing a systemic antibody approaches against COVID-19, ranging from convalescent plasma therapy and polyclonal antibody, to high-affinity monoclonal antibody drug candidates.

Using the rapid IgM/IgG antibody detection technology currently marketed by the Company, along with its own proprietary multi-component automated cell separating system, ThermoGenesis is working towards developing strategies to identify and isolate polyclonal antibodies from the blood of individuals who have recovered from the disease using convalescent whole blood or plasma, which could then be used as a potential therapeutic treatment for patients with of COVID-19.

As previously announced, the Company's joint venture partner, ImmuneCyte, has acquired from its collaborators worldwide intellectual property of four high-affinity monoclonal antibody drug candidates against COVID-19virus. These high-affinity neutralizing monoclonal antibodies were also identified from convalescent whole blood from individuals who have recently recovered from COVID-19.

The FOX40 News is accessible via the link below:

The KCRA3 News is accessible via the link below:

The in-depth local Sacramento Bee news article is accessible via the link below:

Commenting on the recent new coverage Chris Xu, PhD, an immunologist and Chief Executive Officer of ThermoGenesis, said, "We are taking a systematic approach to address several critical unmet needs in the fight against COVID-19, namely rapid tests and effective therapies. By working closely with our global collaborators, we had a head start on this critical research." Dr. Xu also noted that the U.S. Food and Drug Administration is fast tracking therapeutic products related to SARS-CoV-2, which the Company hopes may ultimately include ThermoGenesis' various antibody therapeutic approaches.

About ThermoGenesis Holdings, Inc.

ThermoGenesis Holdings, Inc. develops, commercializes and markets a range of automated technologies for CAR-T and other cell-based therapies. The Company currently markets a full suite of solutions for automated clinical biobanking, point-of-care applications, and automation for immuno-oncology, including its semi-automated, functionally-closed CAR-TXpressplatform, which streamlines the manufacturing process for the emerging CAR-T immunotherapy market. For more information about ThermoGenesis, please visit:www.thermogenesis.com.

About ImmuneCyte Life Sciences, Inc.

ImmuneCyte, a joint venture which is 19% owned by ThermoGenesis, develops and commercializes diagnostic and therapeutic technologies for COVID-19. The Company also provides clients the opportunity to bank their own immune cells when the cells are "healthy and unaffected" as a future resource for cellular immunotherapies, such as CAR-T. ImmuneCyte utilizes a proprietary CAR-TXpress platform, a GMP compliant close-system capable of automated separating and cryopreserving different components from blood, simultaneously. For more information about ImmuneCyte Life Sciences Inc., please visit: http://www.immunecyte.com.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect the current expectations of ThermoGenesis concerning future events and results. Forward-looking statements based on ThermoGenesis' current assumptions, expectations and beliefs are generally identifiable by use of words "may," "might," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue," or similar expressions and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. Such forward-looking statements, including statements regarding the intended use of net proceeds from the registered direct offering as well as those factors concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, market and other conditions, as well as those risk factors discussed in Item 1A of our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") as well as other documents that may be filed by ThermoGenesis from time to time with the SEC, which are available atwww.sec.gov. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.

Company Contact:Wendy Samford916-858-5191ir@thermogenesis.com

Investor Contact:Paula Schwartz,Rx Communications917-322-2216pschwartz@rxir.com

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SOURCE ThermoGenesis Holdings, Inc.

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ThermoGenesis and ImmuneCyte Joint Venture Developing Several Convalescent Plasma and Antibody Therapeutic Approaches Against COVID-19, Featured on...