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

ge of development.
  • 2010 revenue from this segment grew 34% from 2009, and accounted for about 31% of total 2010 revenue.  
  • Many regenerative medicine customers have the potential to generate in excess of $1 million of annual revenue for BioLife if regulatory approvals are obtained and the products are successfully commercialized.

  • Contract Manufacturing Services – A New Business and Revenue Stream

  • Preliminary contract manufacturing revenue for 2010 was about 10% of total revenue. This was a new customer type for the Company in 2010 as we began offering additional services that leverage our expertise and the capacity created by our investment in internal manufacturing.
  • In the fourth quarter we secured a long-term contract manufacturing relationship with a leading life sciences tools company, in which we will manufacture a private labeled cord blood stem cell freeze media product for our partner.  We estimate our partner has approximately 10% of the market for cord blood stem cell freeze media products.
  • We estimate that nearly all 2010 contract-manufactured products are intended for distribution to cord blood banks in the biobanking segment, and we expect continued growth in this segment in 2011.

  • Distributor Sales – Growth in Our Indirect Sales Channel

  • Revenue from our indirect distribution channel doubled from 2009 as our partners increased their order volume significantly in the fourth quarter and full year 2010.  Revenue from this channel was about 10% of total revenue.

  • In summary, 2010 was pivotal year in the Company's history and growth as we continued to build a recurring revenue base that can transform BioLife into a valuable enterprise and an attractive investment opportunity.  We remain focused on our financial priorities for the next 24 to 36 months, which include achieving positive cash flow and reducing our debt levels.  In
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    SOURCE BioLife Solutions, Inc.
    Copyright©2010 PR Newswire.
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