BioLife Solutions Awarded Three New Patents for Cell and Gene Therapy Bioproduction Tools
Expanded Intellectual Property Related to 2019 Acquisitions of Astero Bio and SAVSU Technologies
BOTHELL, Wash., March 2, 2020 /PRNewswire/ -- BioLife Solutions (NASDAQ: BLFS), a leading developer and supplier of best-in-class bioproduction tools for cell and gene therapies, today announced three new patents for bioproduction tools related to the 2019 acquisitions of Astero Bio and SAVSU Technologies. The new patents awarded to BioLife include:
United States Patent: Contents Rack for Use in Insulated Storage Containers
This patent covers the key technologies used in the -80°C dry ice evo® smart shipping container, currently in use by Novartis to transport the AveXis ZOLGENSMA® gene therapy. The evo platform was acquired from SAVSU Technologies in August 2019.
Japan Patent: Systems, Devices, and Methods for Automated Sample Thawing
This patent covers core technologies used in the ThawSTAR® automated, water-free thaw products acquired from Astero Bio in April 2019.
United States Patent: Biologic Stability, Delivery Logistics and Administration of Time and/or Temperature Sensitive Biologic Based Materials
This patent covers core features in the evo.is cloud application that enables real-time tracking and monitoring of high-value shipments of cell and gene therapies.
Mike Rice, BioLife Solutions CEO, remarked, "We have a remarkably strong team of inventors who are experts in the fields of cryopreservation, storage and transport, and thawing of biologic material. Our portfolio now includes a synergistic family of risk-mitigating bioproduction tools, including our CryoStor® and HypoThermosol® biopreservation media, ThawSTAR automated, water-free thawing products, evo platform of smart, cloud-connected shipping containers and the evo.is cloud app, and Custom Biogenic Systems high capacity freezers, racks and accessories. We look forward to providing a continuous stream of innovative solutions to the high growth cell and gene therapy market."
About BioLife Solutions
BioLife Solutions is a leading supplier of cell and gene therapy bioproduction tools. Our tools portfolio includes our proprietary CryoStor® freeze media and HypoThermosol® shipping and storage media, ThawSTAR® family of automated, water-free thawing products, evo® cold chain management system, and Custom Biogenic Systems high capacity storage freezers. For more information, please visit www.biolifesolutions.com, and follow BioLife on Twitter.
Cautions Regarding Forward Looking Statements
Except for historical information contained herein, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements concerning the expected financial performance of the company following the acquisitions of Astero Bio, SAVSU Technologies and Custom Biogenic Systems, the expected synergies between the company and the acquired companies, the company's ability to realize all or any of the anticipated benefits associated with the acquisitions, the company's ability to implement its business strategy and anticipated business and operations following the acquisitions, the potential utility of and market for its products and services, the company's anticipated future growth strategy, including the acquisition of synergistic cell and gene therapy manufacturing tools and services or technologies, anticipated business and operations, guidance for financial results in 2019 and 2020, including regarding revenue from the acquired companies, the potential utility of and market for our products and services, and potential revenue growth and market expansion, including with consideration to the acquisitions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including among other things, uncertainty regarding unexpected costs, charges or expenses resulting from the acquisitions; market adoption of the company's products or the acquired products; the ability of the acquisitions to be accretive on an adjusted EPS basis and contribute to adjusted EBITDA in 2020, the ability of the company to implement its business strategy; uncertainty regarding third-party market projections; market volatility; competition; litigation; and those other factors described in our risk factors set forth in our filings with the Securities and Exchange Commission from time to time, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We undertake no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, other than as may be required by applicable law.
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SOURCE BioLife Solutions, Inc.
Company Codes: NASDAQ-SMALL:BLFS