BioLife Solutions, Inc. Executes 10 Year Supply Agreement With Bellicum For CryoStor Use In Cellular Immunotherapies
BOTHELL, Wash., Aug. 10, 2016 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS), a leading developer, manufacturer and marketer of proprietary clinical grade cell and tissue hypothermic storage and cryopreservation freeze media and a related cloud hosted biologistics cold chain management app for smart shippers ("BioLife" or the "Company"), today announced that it has entered into a ten year supply agreement with Bellicum Pharmaceuticals, a leading developer of cellular immunotherapies for cancers and orphan inherited blood disorders.
BioLife's CryoStor clinical grade cell freeze media is incorporated into Bellicum's manufacturing process for several cellular immunotherapies targeting blood cancers and solid tumors.
Mike Rice, BioLife President & CEO, commented, "We are pleased to support Bellicum with this long term supply agreement, which underscores the value and utility of our biopreservation media products in the high growth cell therapy industry. The last half of 2016 and 2017 will be very exciting and encouraging for cancer patients, our customers, and BioLife shareholders. Several customers' cellular immunotherapies continue to progress through late stage clinical trials and the BLA submission and regulatory approval process. As these customers obtain regulatory approvals and commence commercial scale manufacturing, we expect significantly increased demand for CryoStor and HypoThermosol®, our best in class biopreservation media products."
BioLife management estimates that CryoStor and HypoThermosol, BioLife's cell and tissue storage and shipping media, are incorporated into more than 220 pre-clinical validation projects and clinical trials of cell-based therapies targeting blood cancers, solid tumors, vision loss, heart disease, stroke, and movement disorders such as osteoarthritis.
About BioLife Solutions
BioLife Solutions develops, manufactures and markets biopreservation media products and smart shipping containers connected to a cloud hosted cold chain management app to improve the quality of delivery logistics 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 biopreservation media 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.
The biologistex cloud based cold chain management service is an integrated logistics and tracking and trace web app used by shippers of time and temperature sensitive biologic materials. The evo Smart Shipper is a state of the art precision thermal shipping container with embedded payload monitoring, GPS location tracking, and cellular communication electronics that transmit critical shipment information to the cloud. This SaaS app enables users to monitor high value shipments during transit and configure actionable alerts for downstream recipients for location, approaching destination, delivery, package open, and remaining shelf life or stability via the patent pending StableAlert countdown timer. For more information please visit www.biolifesolutions.com, and follow BioLife on Twitter.
This press release contains forward-looking statements, including, but not limited to, statements concerning new products, the company's anticipated business and operations, the potential utility of and market for its products and services, potential revenue growth and market expansion, market adoption of biologistex, commercial manufacturing of our customers' products, potential proceeds from the credit facility, and projected financial results, cash flow and liquidity, including the potential for reaching positive cash flow from operations next year. 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 market adoption of products; 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.
Media & Investor Relations
Roderick de Greef
Chief Financial Officer
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SOURCE BioLife Solutions, Inc.