Stem Cell Company CardioCell Utilizes BioLife Solutions CryoStor® in Phase II Clinical Trial for Heart Failure
Harvested Allogeneic Mesenchymal Bone Marrow Cells (aMBMC) Are Cryopreserved in CryoStor
BOTHELL, Wash., Oct. 22, 2015 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS), the 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 CardioCell, a Stemedica Cell Technologies company, recently published details of its phase II heart failure clinical trial in the Journal of Cardiovascular Medicine. In the article, titled, Rationale and design of a randomized controlled trial of allogeneic mesenchymal stem cells in patients with nonischemic cardiomyopathy, the use of BioLife's clinical grade CryoStor freeze media was disclosed. Details of the study can be found here:
Over the last several years, adoption of BioLife's biopreservation media products including CryoStor and HypoThermosol in the developing and high growth regenerative medicine market has increased significantly due to the products' ability to extend stability and improve viability and functional recovery of starting material and manufactured cell products.
Mike Rice, BioLife's President & CEO, remarked, "We are very proud to support CardioCell and Stemedica in their quest to commercialize potentially life saving cell based therapies for heart failure patients and other indications. HypoThermosol and CryoStor are now embedded in over 200 pre-clinical validations and clinical trials of numerous cell based products and therapies. With this critical mass of regenerative medicine customer clinical trials, and our biologistex™ cloud based cold chain management service that we are just rolling out, we have tremendous opportunities to positively impact the manufacturing and delivery logistics of biologic based medicine and to create significant value for our shareholders."
About BioLife's Addressable Markets
In July 2015, Frost & Sullivan forecasted that the stem cell therapy market is expected to be worth $40 billion by 2020 and $180 billion by 2030. The Global Healthcare Cold Chain Logistics Market Report & Forecast published by the IMARC Group forecasts 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.
About BioLife Solutions
BioLife Solutions develops, manufactures and markets hypothermic storage and cryopreservation solutions and smart shipping containers connected to a cloud hosted cold chain management app to improve the quality of delivery logistics 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 technology 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; 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 |
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| Daphne Taylor |
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| Senior Vice President, Chief Financial Officer |
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| (425) 402-1400 |
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SOURCE BioLife Solutions, Inc.
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