SAVSU Technologies evo™ Smart Shipping Container, Marketed by BioLife Solutions, Wins 2015 Medical Design Excellence Award
Multiple Patents Filed on Disruptive, Innovative Product Design and Related Cloud-Hosted biologistex™ Cold Chain Management App
SANTA FE, N.M. and BOTHELL, Wash., June 18, 2015 /PRNewswire/ -- SAVSU Technologies, a leading designer and manufacturer of innovative high performance passive storage and transport containers for temperature sensitive biologics and pharmaceuticals, and 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, today announced that the evo smart shipping container, designed and manufactured by SAVSU and marketed by BioLife, was the silver award recipient at the recent Medical Design Excellence Awards competition for the category Medical Product Packaging, Graphic Instructions, and Labeling Systems.
Designed to provide enhanced thermal and mechanical stress protection for time and temperature sensitive biologic payloads such as cells, tissues, and organs, the evo smart shipping container product line includes models that operate at cryogenic, refrigerated, and ambient temperatures. Further designed to overcome the limitations of non-integrated payload monitoring devices, evo contains embedded cellular and multi-parameter monitoring technologies that sense payload conditions and transmit critical payload and shipment data to the biologistex cloud hosted cold chain management app. This seamless, integrated app enables users to packout, ship, monitor, and track biologic payloads during transit to the destination and the bedside. Key payload and shipment configurable alerts include location, payload and ambient temperature, delivery, unpacking, and remaining stability time.
Bruce McCormick, President of SAVSU Technologies, commented on the recognition of the innovative design of the evo smart shipping container by stating, "We are very honored to receive this design award. Our new evo product line is the hardware component of the product offering from our biologistex joint venture with BioLife. It represents our latest thinking about shipping critical, small volume cellular therapies and tissue samples, which are more difficult than large volume shipments. In the case of autologous therapies, we all know that there is a patient depending on a customized cellular therapy to arrive safely and reliably, and the evo helps create a system that advances the state of the art significantly."
The Global Healthcare Cold Chain Logistics Market Report & Forecast published by the IMARC Group estimates that the demand for cold chain packaging and instrumentation services will grow from $3.2 billion in 2013 to $5.1 billion in 2018. BioLife management believes its addressable market for small payload shippers and related monitoring devices is several hundred million dollars.
Mike Rice, BioLife Solutions President & CEO, commented on the MDEA for evo by stating, "The SAVSU design team did a phenomenal job blending and balancing the form, function, and aesthetics of the evo smart shipping container. Initial feedback has been very complimentary and we are working hard to deploy the first evo shippers in the next several weeks. The collaborative spirit of our joint venture has also yielded several additional design innovations for evo and our cloud hosted biologistex cold chain management app and we have filed several new patent applications to seek protection of our intellectual property."
About SAVSU Technologies
SAVSU is a leading designer and manufacturer of innovative high performance passive storage and transport containers for temperature sensitive biologics and pharmaceuticals. 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 Medical Design Excellence Awards
The Medical Design Excellence Awards (MDEA) competition is the medtech industry's premier awards program recognizing the highest-caliber medical devices and diagnostic products on the market. The program recognizes the achievements of medical device manufacturers, their suppliers, and the many people behind the scenes who are responsible for the cutting-edge innovations that are saving lives; improving patient healthcare; and transforming medtech worldwide. Since its inception in 1998, the competition has honored more than 600 groundbreaking products.
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.
Media & Investor Relations
Daphne Taylor
Senior Vice President, Chief Financial Officer
(425) 402-1400
[email protected]
SOURCE BioLife Solutions, Inc.
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