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BioLife Solutions CEO Issues 2010 Corporate Update
Date:1/10/2011

BOTHELL, Wash., Jan. 10, 2011 /PRNewswire/ -- BioLife Solutions, Inc. (OTC Bulletin Board: BLFS) is issuing the following corporate update today by its Chairman and Chief Executive Officer Mike Rice, to summarize the continued progress the Company made in 2010 on a number of strategic growth initiatives.  

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

I am pleased to report preliminary record revenue of $575,000 for the fourth quarter of 2010, an increase of 10% over the third quarter of 2010, and 20% over the same quarter in 2009.  Preliminary revenue for the full year of 2010 was $2,081,391, an increase of 32% over 2009.  In 2010, we shipped 1,000 product revenue orders to 250 customers in 30 countries.  Awareness of the value of our proprietary GMP grade biopreservation media products continues to grow throughout the worldwide life sciences and clinical communities, as our products continue to displace competing "home-brew" formulations and commercial preservation media products.  

Revenue highlights of the fourth quarter and full year 2010 include:

Regenerative Medicine Market – Continued Product Adoption

  • The worldwide regenerative medicine market is comprised of nearly 1,000 commercial companies and hospitals, which are developing cell and tissue-based products and therapies to treat cancer, heart disease, diabetes, neurologic disorders, movement disorders and many other afflictions.
  • In 2010, our biopreservation media products were incorporated into the manufacturing and delivery processes of several new developmental stage regenerative medicine products.  We estimate that our products are incorporated into 40 – 50 regenerative medicine products currently in the pre-clinical or clinical trial sta
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    Related biology technology :

    1. BioLife Solutions Credit Facility Increased to $9 Million
    2. BioLife Solutions HypoThermosol(R) Adopted by MicroIslet for Processing Pancreatic Islet Cells to Treat Diabetes
    3. BioLife Solutions Submits FDA Master File on HypoThermosol(R) Preservation and Storage Media for Cells, Tissues
    4. BioLife Solutions Granted European Biopreservation Patent
    5. BioLife Solutions Completes Safety Studies on HypoThermosol(R) and CryoStor(TM)
    6. BioLife Solutions Joins Prestigious Biomedical Excellence for Safer Transfusion Collaborative
    7. BioLife Solutions Launches BioPreservation Today(R) Industry Newsletter
    8. Improved Cryopreservation Outcomes in Potential $100B Tissue Engineering Market Enabled by BioLife Solutions CryoStor(TM)
    9. Rutgers University Cell and DNA Repository Adopts BioLife Solutions CryoStor(TM) as Standard Biopreservation Media
    10. BioLife Solutions Announces Validation and Start-Up of New Internal Manufacturing Facility for Serum-Free Cell and Tissue Biopreservation Media Products
    11. BioLife Solutions and STEMCELL Technologies Announce Worldwide Distribution Agreement
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