BioLife Solutions Expands Strategic Relationship with STEMCELL Technologies Inc. CryoStor® cGMP Serum-Free, Protein-Free Freeze Media Used in Launch of More than 50 New Frozen Cell Products
BOTHELL, Wash., Aug. 13, 2013 /PRNewswire/ -- 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 an expansion of its relationship with Vancouver, BC-based STEMCELL Technologies Inc. Since August 2009, STEMCELL Technologies has distributed BioLife's best in class biopreservation media products to the worldwide research and clinical biobanking communities. The previous news release can be found here: http://www.prnewswire.com/news-releases/biolife-solutions-and-stemcell-technologies-announce-worldwide-distribution-agreement-62233737.html
In an expansion of the relationship, STEMCELL Technologies recently selected BioLife's CryoStor cGMP freeze media for use in the launch of over 50 new primary cell products (from bone marrow, peripheral blood, umbilical cord blood, and umbilical cord tissue), to be marketed to the research community.
Mike Rice, BioLife Solutions President and CEO, commented on STEMCELL's product launch by stating, "We are quite pleased that STEMCELL Technologies has incorporated CryoStor into this new cell product portfolio. This is further validation of the superior preservation efficacy and overall value proposition of pre-formulated CryoStor when used with blood-derived cell types. We look to future growth in our business with STEMCELL Technologies and are glad to see our intellectual property enabling a revenue source for this strategic distributor."
A February 2013 report by visiongain predicts that the world market for cell-based assays will reach $4.7 billion in 2016.
David Llewellyn, Ph.D., MBA, Senior Director, Business Operations of STEMCELL Technologies commented on the expansion of the relationship with BioLife; "We have been very pleased with the performance of BioLife's products and the company's overall support. BioLife has become an increasingly strategic supplier of our research products. Our customers value the quality and performance of BioLife's biopreservation media products. Along with our own internal research, customer feedback gives us confidence to incorporate CryoStor into our new primary cell product portfolio."
About STEMCELL Technologies
STEMCELL Technologies Inc. is a leader in the development of specialty cell culture media, cell isolation products and ancillary reagents for life science research. Driven by science and a passion for quality, STEMCELL Technologies provides over 1500 products to more than 70 countries worldwide. To learn more about how STEMCELL Technologies facilitates life science research, please visit http://www.stemcell.com/.
About BioLife Solutions
BioLife Solutions develops, manufactures and markets hypothermic storage and cryopreservation solutions 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 academic and clinical researchers significant improvement in shelf life and post-preservation viability and function of cells, tissues, and organs. BioLife Solutions is certified to ISO13485:2003. For more information please visit www.biolifesolutions.com, and follow BioLife on Twitter.
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 & Investor Relations
Senior Vice President, Chief Financial Officer
SOURCE BioLife Solutions, Inc.