BOTHELL, Wash., Sept. 17 /PRNewswire-FirstCall/ -- BioLife Solutions Inc. , a leading developer and marketer of proprietary hypothermic storage and cryopreservation media products for cells, tissues, and organs, today announced that privately held Tissue Regeneration Therapeutics Inc. (TRT) has adopted and recommends BioLife's CryoStor as part of its standard preservation protocol for mesenchymal stem cells derived from umbilical cord tissue.
TRT holds patents and intellectual property rights to a process of removing and storing stem cells from umbilical cord tissue. Mesenchymal stem cells are the progenitor cells for muscle, bone, and connective tissues. Published uses of mesenchymal cells in cell therapy include treatment of auto-immune and inflammatory diseases, cancer, heart disease, and tissue engineering.
John E. Davies, President of TRT, Professor of Biomaterials and Biomedical Engineering at the University of Toronto, and inventor of the HUCPVC (Human Umbilical Cord PeriVascular Cell) technology, commented: "As with all cell-based therapies, post-preservation yield and viability are critically important and directly related to clinical efficacy and the overall success of product development, commercial production, and the cost of delivering the therapy to the patient. Our use of CryoStor was driven by a need for a high performance, serum free, fully defined, GMP compliant preservation media. CryoStor uses only USP or highest-available grade components. All of these safety and quality factors led to our decision to adopt this new enabling technology."
BioLife Chairman and CEO Mike Rice remarked: "We are very pleased to be able to provide a key component that substantially improves the preservation and utility of umbilical cord tissue derived stem cells. As a result, TRT and its partners around the world can now offer parents not only a new source of stem cells but also a more viable means of preserving and storing stem cells for the potential treatment of numerous diseases. TRT's adoption of CryoStor represents further validation of the benefits of CryoStor and proof of growing customer acceptance of all our proprietary preservation media products by the cell therapy market."
About Tissue Regeneration Therapeutics
TRT is a private, Canadian life sciences company that exclusively licensed HUCPVC technology from the University of Toronto. TRT's business model involves licensing HUCPVC technology to national Cord Blood Banks seeking to offer new families a mesenchymal stem cell product in addition to their existing cord blood storage. In June 2006, TRT exclusively licensed rights for the Canadian market to CReATe Cord Blood Bank in Toronto, who market HUCPVCs as Peristem(TM). In June 2007, TRT licensed exclusive USA rights for HUCPVC technology for familial banking to Stem Cell Authority, Akron OH. TRT's preclinical and clinical development program is designed to define patient benefits for auto-immune and inflammatory diseases. For more information please visit http://www.verypowerfulbiology.com.
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) platform of solutions are marketed to academic and commercial organizations involved in cell therapy, tissue engineering, cord blood banking, drug discovery, and toxicology testing. BioLife's products are serum-free and protein-free, fully defined, and are formulated to reduce or prevent preservation-induced, delayed-onset cell damage and death. BioLife's enabling technology provides academic and clinical researchers significant improvements in post-thaw cell, tissue, and organ viability and function. For more information please visit http://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.
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