BOTHELL, Wash., June 15, 2015 /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 a new clinical article citing the use of the Company's CryoStor cryopreservation freeze media with a dendritic cell based vaccine was published in the journal Oncotarget.
The article can be viewed here: Phase I/II clinical trial of dendritic-cell based immunotherapy (DCVAC/PCa) combined with chemotherapy in patients with metastatic, castration-resistant prostate cancer.
Mike Rice, BioLife Solutions President & CEO, commented on the use of CryoStor in this clinical study by stating, "We are very pleased to note another use of our proprietary CryoStor freeze media in a clinical application. We are focused on providing biopreservation tools that can enable commercialization of potentially life extending and life saving cellular immunotherapies. We are committed to extremely high quality standards and our entire team is dedicated to driving improvements in the quality of manufacturing and delivery logistics of biologic based medicine."
Company management believes that BioLife products are incorporated into the storage, shipping, freezing, and/or clinical administration processes and protocols of at least 185 pre-clinical projects and clinical trials of cellular therapeutics. Confirming and supporting information is sourced from customer requests to cross reference BioLife's US FDA Master Files for CryoStor and HypoThermosol in clinical trial applications, other customer and distributor communications, and the www.clinicaltrials.gov website.
Within the cellular immunotherapy segment of the regenerative medicine market, BioLife's products are embedded in the manufacturing, storage, and delivery processes of at least 75 clinical trials of chimeric antigen receptor T cells (CAR-T), T cell receptor (TCR), dendritic cell (DC), tumor infiltrating lymphocytes (TIL), and other T cell-based cellular therapeutics targeting solid tumors, hematologic malignancies, and other diseases and disorders. A large majority of the currently active private and publicly traded cellular immunotherapy companies are BioLife customers.
The Roots Analysis market research report titled Dendritic Cell and CAR-T Therapies, 2014 – 2024, published in November 2014, estimates that the cellular immunotherapies market could grow to $4 billion by 2024. BioLife's addressable share of this market is attributed to the demand for biopreservation media and controlled temperature shipping containers.
Recently, the Alliance for Regenerative Medicine ("ARM") published their Quarterly Data Report for the first quarter of 2015. ARM reported that there are more than 580 leading therapeutics companies worldwide and that in the first quarter of 2015, the total funds raised by these companies was more than $2.7 billion, an increase of 135% from Q1 2014. The full report can be viewed here: http://alliancerm.org/page/arm-quarterly-report#
About BioLife Solutions
BioLife Solutions develops, manufactures and markets hypothermic storage and cryopreservation solutions and precision thermal shipping products for cloud-hosted logistics management applications for cells, tissues, and organs. BioLife also performs contract aseptic media formulation, fill, and finish services. 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 technologies 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, 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, and, projected financial results and liquidity. 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; reliance upon SAVSU for completing the development and manufacturing of biologistex CCM's products; 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.
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SOURCE BioLife Solutions, Inc.