BINGHAMTON, N.Y., Feb. 2 /PRNewswire-FirstCall/ -- BioLife Solutions Inc. (BULLETIN BOARD: BLFS) announced today that it has signed a multi-year supply agreement with Pittsboro, NC-based Hepatotech Inc., a privately-held manufacturer and distributor of hepatocytes (liver cells). Under the terms of the agreement, BioLife will sell Hepatotech its off-the-shelf Hypothermosol(R) and Cryostor(TM) preservation solutions to support Hepatotech's cell harvest and shipment services. The agreement with the collaborating entities of Hepatotech further expands the sales opportunities for BioLife's technology.
BioLife President and CEO John G. Baust, Ph.D., said, "We look forward to working with Hepatotech to expand the distribution of our product offerings to their customers. This agreement represents a key milestone in the implementation of our Company's strategy to expand our customer base via such sole source agreements to position BioLife to derive growing revenue streams from a broader base of customers."
BioLife's HypoThermosol family of products includes solutions optimized for the "chill" storage of human cells and tissues. Its recently developed CryoStor product line of cryopreservation media provides a superior approach to the low temperature preservation of many biological systems.
About BioLife Solutions, Inc.
BioLife Solutions has pioneered the next generation of preservation solutions designed to maintain the viability and health of cellular matter and tissues during freezing, transportation and storage. Based on the Company's proprietary bio-packaging technology and a patented under-standing of the mechanism of cellular damage and death, these products enable the biotechnology and medical community to address a growing problem that exists today. The expanding practice of cell and gene therapy has created a need for products that ensure the biological viability of mammalian cell and tissue material during transportation and storage. The HypoThermosol(R) and CryoStor(TM) products that the Company is selling today are a significant step forward in meeting these needs.
This news release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include any statements that relate to the intent, belief, plans or expectations of the Company or its management, or that are not a statement of historical fact. Any forward-looking statements in this news release are based on current expectations and beliefs and are subject to numerous risks and uncertainties that could cause actual results to differ materially. Some of the specific factors that could cause BioLife Solutions' actual results to differ materially are discussed in the Company's recent filings with the Securities and Exchange Commission. BioLife Solutions disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
For further information please contact: investors, Jill Bertotti, firstname.lastname@example.org, or media, Len Hall, email@example.com, both of Allen & Caron Inc, +1-949-474-4300, for BioLife Solutions Inc.
BioLife Solutions Inc.
CONTACT: investors, Jill Bertotti, firstname.lastname@example.org, or media, LenHall, email@example.com, both of Allen & Caron Inc, +1-949-474-4300, forBioLife Solutions Inc.