EXHIBIT 99.1


                              [THERMOGENESIS LOGO)

                               ThermoGenesis Corp.
                         Closes Offering of Common Stock

RANCHO CORDOVA, Calif., February  3/PRNewswire-FirstCall/ -- ThermoGenesis Corp.
(Nasdaq:  KOOL - News)  today  announced  that it has  completed  an offering of
8,000,000  shares  of its  common  stock at $4.00  per  share.  At the  closing,
8,000,000  shares were sold. Net proceeds before expenses from the offering were
approximately $30.1 million. Upon completion of the offering,  ThermoGenesis had
approximately 53,984,192 shares issued and outstanding.

The sole book-running  manager of the offering was Deutsche Bank Securities Inc.
The  co-manager of the offering was Jefferies  and Company,  Inc.  Copies of the
final  prospectus  relating to the offering may be obtained  from  Deutsche Bank
Securities Inc., 60 Wall Street,  4th Floor, New York, NY 10005, from the office
of Jefferies & Company, Inc., or from the SEC's Web site at www.sec.gov.

About ThermoGenesis Corp.

ThermoGenesis Corp. is a leader in developing and manufacturing  automated blood
processing systems and disposables that enable the manufacture, preservation and
delivery of cell and tissue therapy products.

     o    The BioArchive(R)  System,  an automated  cryogenic device, is used by
          cord blood  stem cell banks in 26  countries  for  cryopreserving  and
          archiving cord blood stem cell units for transplant.

     o    The AutoXpress(R)  System,  is a newly developed  automated device and
          companion sterile closed blood processing disposable,  to harvest stem
          cells from cord blood.

     o    The CryoSeal(R) FS System,  an automated device and companion  sterile
          blood  processing  disposable,  is  used  to  prepare  hemostatic  and
          adhesive  surgical sealants from the patient's blood in about an hour.
          Enrollment  in a 150  patient  U.S.  pivotal  clinical  trial has been
          completed and a PMA is being reviewed by the FDA.

     o    The  Thrombin  Processing  Device(TM)  (TPD(TM))  is a  sterile  blood
          processing  disposable that prepares  activated  thrombin from a small
          aliquot of patient blood, or blood plasma in less than 30 minutes. The
          TPD market launch is underway in Europe.

The  statements  contained in this release  which are not  historical  facts are
forward-looking  statements  that are  subject to risks and  uncertainties  that
could cause  actual  results to differ  materially  from those  expressed in the
forward-looking statements, including, but not limited to, certain delays beyond
the Company's  control with respect to market acceptance of new technologies and
products, delays in testing and evaluation of products, and other risks detailed
from time to time in the  Company's  filings  with the  Securities  and Exchange
Commission.

                         For More Information, Contact:

                               THERMOGENESIS CORP.
                         Matthew Plavan: (916) 858-5100
                          Or Fern Lazar: (212) 867-1762

                 or visit the web site at www.thermogenesis.com