BioLife Solutions (NASDAQ: BLFS) is trading higher after announcing its 10-year supply agreement with TissueGene, a developer of regenerative therapies for the treatment of various orthopedic diseases. BioLife’s CryoStor clinical grade cell freeze media is integrated into TissueGene’s manufacturing process for Invossa, a drug designed to treat osteoarthritis of the knee through a single intra-articular injection. “We are very pleased to support TissueGene and Kolon with this long term supply agreement, which further supports our growth potential of the franchise we have built in the high growth cell therapy industry. We believe that CryoStor and HypoThermosol are incorporated into more than 230 customer pre-clinical validation projects and clinical trials of cell-based therapies targeting blood cancers, solid tumors, vision loss, heart disease, stroke, and movement disorders such as osteoarthritis. 2017 should be a pivotal year for BioLife, as we expect further customer progress in late stage clinical trials and regulatory approval submissions. This momentum in the regenerative medicine market should drive increased demand for CryoStor and HypoThermosol,” BioLife president and CEO Mike Rice commented in the news release.
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About BioLife Solutions
BioLife Solutions develops, manufactures and markets biopreservation media products 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. 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.
The biologistex cloud based cold chain management service is an integrated logistics and tracking and trace web app used by shippers of time and temperature sensitive biologic materials. The evo Smart Shipper is a state of the art precision thermal shipping container with embedded payload monitoring, GPS location tracking, and cellular communication electronics that transmit critical shipment information to the cloud. This SaaS app enables users to monitor high value shipments during transit and configure actionable alerts for downstream recipients for location, approaching destination, delivery, package open, and remaining shelf life or stability via the patent pending StableAlert™ countdown timer. For more information please visit www.biolifesolutions.com
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