OWEGO, N.Y., Feb. 16 /PRNewswire-FirstCall/ -- BioLife Solutions Inc. , a leading developer and manufacturer of proprietary preservation media for cells, tissues, and organs, today announced it appointed Funakoshi Co., Ltd. as exclusive distributor to the biotechnology research market in Japan. This decision supports the Company's strategic plan to capture a significant share of the worldwide market for preservation media.
PA Consulting Group, a global consulting firm with expertise in life sciences and healthcare, estimates the worldwide market for media to preserve cells, tissues, and organs for research and clinical applications will grow to more than $300 million by 2011.
Chief Executive Mike Rice remarked: "We completed a detailed evaluation of possible distribution partners for our products in Japan. It became clear that Funakoshi has the best geographic coverage, extensive scientific and sales teams, and a well developed sub-dealer network to market to, and support, our current and prospective customers. We're extremely pleased to form this partnership and look forward to growing our customer base in Japan."
Also as part of its sales and marketing strategy, BioLife will be exhibiting and presenting at the annual meeting of the International Society for Stem Cell Research, June 17-21 in Cairns, Australia, and the annual meeting of the International Society for Cellular Therapy, June 24-27 in Sydney, Australia.
About BioLife Solutions
BioLife Solutions develops, manufactures and markets patented hypothermic storage and cryopreservation solutions for cells, tissues, and organs. The Company's proprietary HypoThermosol(R) and CryoStor(TM) preservation media are marketed to companies, laboratories, and academic institutions engaged in research and commercial clinical applications. BioLife's line of serum-free and protein-free preservation solutions are fully defined and formulated to reduce or prevent preservation-induced, delayed-onset cell damage and death. BioLife's platform enabling technology provides academic and clinical researchers significant improvement in post-thaw cell, tissue, and organ viability and function.
For more information please visit BioLife Solutions' website at www.biolifesolutions.com.
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.
Media Relations Contact: Investor Relations Contacts:
Len Hall Matt Clawson or Dan Matsui
Allen & Caron, Inc. Allen & Caron, Inc.
(949) 474-4300 (949) 474-4300
BioLife Solutions Inc.
CONTACT: Media, Len Hall, email@example.com, or Investors, Matt Clawson,firstname.lastname@example.org, or Dan Matsui, all of Allen & Caron, Inc.,+1-949-474-4300, for BioLife Solutions Inc.