BioLife Solutions, Inc. CryoStor® Adopted by DiscGenics, Inc. For Use In Novel, Injectable Cellular Therapy For Degenerative Disc Disease
BOTHELL, WA — December 9, 2013 —BioLife Solutions, Inc. (OTCQB: BLFS), a leading developer, manufacturer and marketer of proprietary clinical grade hypothermic storage and cryopreservation freeze media for cells and tissues, and contract aseptic media manufacturer, today announced that Discgenics, Inc., a privately-held Salt Lake City, UT development stage regenerative medicine company, has incorporated its CryoStor clinical grade cryopreservation freeze media in the development and potential commercialization of their Injectable Discogenic Cell Therapy (IDCT) product to treat patients suffering from low back pain associated with degenerative disc disease.
Musculoskeletal disorders of the spine associated with low back pain are the leading cause of disability in people less than 45 years of age. Back pain is the 2nd most common reason to visit a physician, the 5th most common cause of admission to the hospital, and the 3rd most common reason for a surgical procedure. The financial impact to the US economy in both treatment dollars and lost worker productivity is estimated to be more than $100 billion.
Bob Wynalek, Chief Operating and Commercialization Officer at Discgenics, commented on the qualification and selection of CryoStor by stating, “We evaluated CryoStor against traditional home brew and commercial freeze media cocktails. CryoStor provided excellent post-thaw cell viability, recovery and potency. The serum-free, protein-free formulation, FDA drug master file, available technical support, and current use by numerous other clinical stage regenerative medicine companies all supported our decision to incorporate CryoStor into our production and delivery processes.” Mike Rice, BioLife Solutions CEO, remarked on gaining a new regenerative medicine customer: “We are very pleased to support the Discgenics team in the development of their novel cell-based spinal therapy for degenerative disc disease. Effective biopreservation of source material and final manufactured doses is a critical success factor for the emerging regenerative medicine market. Discgenics selection of CryoStor is further validation of the potential for our proprietary biopreservation media products to become new standards for shipping, storing, freezing, and delivering cell and tissue based products to patients.”
Discgenics is a privately funded biotechnology company developing advanced spinal therapeutics to treat patients with diseases of the interveterbral disc. We are currently developing IDCT, a novel off-the-shelf injectable therapeutic based on regenerative medicine and progenitor cell science to treat pain associated with degenerative disc disease. News and other information on the company are available at: http://www.discgenics.com..
About BioLife Solutions
BioLife Solutions develops, manufactures and markets hypothermic storage and cryopreservation solutions and high performance thermal packaging products for cells, tissues, and organs. The Company’s proprietary HypoThermosol® and CryoStor® platform of solutions are highly valued in the biobanking, drug discovery, and regenerative medicine markets. BioLife’s products are serum-free and protein-free, fully defined, and are formulated to reduce preservation-induced cell damage and death. BioLife’s enabling technology provides commercial companies and clinical researchers significant improvement in shelf life and post-preservation viability and function of cells, tissues, and organs. For more information please visit www.biolifesolutions.com, and follow BioLife on Twitter.
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning our financial and business outlook for 2013, and other anticipated developments related to us, our business or customers. 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 the 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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