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BioLife Solutions Announces 2012 Third Quarter Results: Ninth Straight Quarter of Record Revenue
Date:11/13/2012

BOTHELL, Wash., Nov. 13, 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 record revenue for the third quarter ended September 30, 2012.

(Logo: http://photos.prnewswire.com/prnh/20090814/BIOLIFELOGO)

Summary of Q3 2012 AchievementsDuring the third quarter of 2012, the Company accomplished the following:

  • Revenue of $1.7 million, BioLife's ninth sequential record revenue quarter.
  • No funds were required from investors in the quarter for the first time since the Company started operations.
  • Executed a new private-label distribution agreement to supply HypoThermosol® and CryoStor® to a leading life sciences cell culture tools provider.
  • Completed the build-out of its second Good Manufacturing Practice (cGMP) clean room suite.
  • Mike Rice, Chief Executive Officer, said, "This was another solid quarter for BioLife, as revenue ramped and we made strong progress in all operational areas of the Company.  Our presence in the high growth regenerative medicine field continues to expand, with several new accounts adopting HypoThermosol and CryoStor for use in their cellular and tissue therapies.  Our contract manufacturing team also reached a significant milestone with over $1.0 million in product shipments to our strategic customers. With our
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    SOURCE BioLife Solutions, Inc.
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