I've looked over the pages for both on the 40k wiki and I can't find it saying anything about why the process would not work on females. Mind you, I'm not asking why isn't it done, just if they ever give a reason why it wouldn't work.
My thought here is that for a Black Crusade game, since they are more likely to buck tradition and all that, I could definitely see them attempting to implant the geneseed into a female and make a woman space marine.