BioLife Solutions Secures Exclusive Distribution Rights For Cellenergy™ Hair Graft Storage Additive Combination of Cellenergy and BioLife's HypoThermosol® Storage and Shipping Media Demonstrates Improved Storage of Hair Grafts
BOTHELL, Wash., Oct. 17, 2012 /PRNewswire/ -- BioLife Solutions, Inc. (OTCBB: 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 it will begin marketing and distributing a novel hair graft storage solution additive that has demonstrated it can improve the survival of hair grafts during hair transplantation procedures. BioLife Solutions will introduce the compound, branded as Cellenergy™, to the broad hair restoration industry at the 20th Annual Meeting of the International Society of Hair Restoration Surgery, October 17th – 20th, in Nassau, The Bahamas.
Cellenergy was invented at the University of Louisville and licensed to Energy Delivery Solutions, LLC, a company founded by William Ehringer, Ph.D., co-inventor of the underlying intellectual property. Energy Delivery Solutions will manufacture the product under Current Good Manufacturing Practices (cGMP) for BioLife, which will exclusively market and distribute Cellenergy to hair restoration physicians throughout the world.
Mike Rice, BioLife Solutions Chief Executive Officer, noted that HypoThermosol®, BioLife's optimized storage and shipping media, has already been adopted by more than 30 leading surgical hair restoration groups and individual physicians as an improved graft storage medium.
The combination of HypoThermosol and Cellenergy as an improved graft storage solution was first conceived of, and tested by, internationally recognized hair surgeon Dr. Jerry Cooley, founder of Carolina Dermatology Hair Center. He then formulated Cellenergy as a post-operative scalp spray, which led to further improvements in the results he observed. Dr. Cooley stated, "I believe that the use of HypoThermosol and Cellenergy is the best way to optimize graft survival, and that these two products will become a new standard of care in hair restoration surgery."
Rice continued, "We are very pleased to be able to offer Cellenergy to the worldwide hair restoration community and believe this represents a significant market opportunity for BioLife. We are encouraged by the positive feedback we have received from leading clinicians on the noticeable improvement in transplants when grafts were treated with HypoThermosol and Cellenergy. We're also very pleased to announce that Dr. Cooley has joined BioLife's Scientific Advisory Board."
The International Society of Hair Restoration Surgery (ISHRS) estimates that 279,381 surgical hair restoration procedures were performed worldwide in 2010.
Cellenergy is a sterile, lyophilized (powder) form of a novel formulation of liposomal adenosine triphosphate (ATP), the primary cellular energy source naturally occurring in the human body. The product is simply reconstituted with sterile, ion-free water, and mixed before use.
About BioLife Solutions
BioLife Solutions develops, manufactures and markets patented hypothermic storage and cryopreservation solutions for cells and tissues. The Company's proprietary HypoThermosol® and CryoStor® 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 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 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.
SOURCE BioLife Solutions, Inc.