BOTHELL, Wash., Oct. 29, 2012 /PRNewswire/ -- BioLife Solutions, Inc. (OTCBB: BLFS), a leading developer, manufacturer and marketer of proprietary clinical grade hypothermic storage and cryopreservation freeze media for cells and tissues, and contract aseptic media manufacturer, today announced the Company's novel biopreservation technology is being used in more than 50 clinical trial-stage cellular therapies, making it the leading choice in the emerging, high growth field of regenerative medicine. Management believes that the Company holds the number one supplier position among companies offering pre-formulated cell and tissue storage and freeze media used in clinical trial stage cellular therapies to treat the leading causes of death and disability such as cancer, heart disease, stroke, and joint/movement disorders.
BioLife Chief Executive Officer Mike Rice indicated that the Company's revenue from its growing regenerative medicine customer base, along with its selective targeting of contract manufacturing customers, should generate cash and profits in the interim until some regenerative medicine customers gain approval and adoption. At that point, profitable growth should accelerate in a step-wise fashion.
Rice commented: "We've built a very strong franchise for HypoThermosol® and CryoStor®
|SOURCE BioLife Solutions, Inc.|
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