BOTHELL, Wash. and SANTE FE, N.M., Sept. 23, 2013 /PRNewswire/ -- BioLife Solutions, Inc. (OTCQB: BLFS), a leading developer, manufacturer and marketer of proprietary clinical grade hypothermic storage and cryopreservation freeze media products for cells and tissues, and contract aseptic media manufacturer, and SAVSU Technologies, Inc., a subsidiary of Barson Corporation, today jointly announced an agreement wherein BioLife will exclusively market and distribute SAVSU's proprietary precision thermal packaging products to the stem cells and regenerative medicine markets.
Mike Rice, BioLife Solutions President and CEO, stated, "This agreement represents another step to expand our best-in-class biopreservation tools portfolio. SAVSU's precision thermal packaging products ensure temperature stability that is another important element in the continuum of biologistics of precious human cells and tissues. This partnership will expand opportunities for BioLife to help our customers further optimize and improve the critical yield and cost dynamics of transporting biologic source materials and manufactured cell and tissue products within a required and validated temperature range."
The regenerative medicine market is expected to grow to more than $35 billion by 2019, according to TriMark Publications' recently published "Regenerative Medicine Markets" report. BioLife's addressable portion of the market is the demand for reagents and precision thermal packaging products used to store, ship and freeze source material and manufactured doses of cell-based products and therapies.
Bruce McCormick, President & CEO of SAVSU Technologies, commented, "We are very pleased to appoint BioLife as our exclusive distributor to the stem cells and regenerative medicine markets. Our products are highly complementary and the BioLife team has demonstrated remarkable success in achieving market adoption of novel biopreservation tools. We look to BioLife to present our value proposition at scientific conferences and to consult with their customers to enable an even more robust performance and quality profile of cell and tissue based products and therapies."
SAVSU's reusable, cost-effective, precision thermal packaging products offer superior temperature stability, extreme durability, and an interior payload volume customizable for relevant source material and final manufactured dose form factors used in the stem cells and regenerative medicine markets.
BioLife Solutions and SAVSU representatives will be presenting the combined product offering at the following upcoming conferences:
Stem Cells & Regenerative Medicine Conference
September 30 – October 1, 2013
Hyatt Regency, Cambridge, MA
GDP & Temperature Management Logistics Global Forum
September 30 – October 4, 2013
Hyatt Regency McCormick Place, Chicago, IL
About SAVSU Technologies
SAVSU® designs and builds solutions to ensure the safe delivery and storage of medicines and biologics used to provide global health. Our mission is to improve global health by greatly reducing the waste and risks associated with the improper freezing and overheating of thermal-sensitive medicines and biologics. SAVSU® has developed proprietary state-of-the-art technology to ultimately lower costs and improve delivery of these most essential materials. For more information please visit www.savsu.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 biopreservation media products 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.
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SOURCE BioLife Solutions, Inc.