Navigation Links
BioLife Solutions Credit Facility Increased to $9 Million
Date:10/21/2008

Access to Additional Capital Will Enable Revenue Growth

BOTHELL, Wash., Oct. 21 /PRNewswire-FirstCall/ -- BioLife Solutions Inc. (OTC Bulletin Board: BLFS), a leading developer and marketer of proprietary hypothermic storage and cryopreservation media products for cells, tissues, and organs, today announced that it reached an agreement with two of the Company's European investors to increase the Company's existing credit facility from $5 million to $9 million. The terms of the original Secured Multi-Draw Credit Facility Agreement apply to any future draw-downs on the credit facility.

BioLife Chief Executive Mike Rice commented: "We're quite pleased to secure access to this additional operating capital, considering the current worldwide economic conditions. Our strategic markets are projected to grow rapidly, as research and development to create new treatments for disease, trauma and other conditions continue to move toward cell-based solutions. We expect sales of our HypoThermosol(R) and CryoStor(TM) biopreservation media products to increase in the cord blood banking, cell therapy, and cell-based toxicology testing markets, as new customers realize how the longer shelf life and increased quantity of functional cells enabled by our products translate into cost savings and higher-quality therapeutic products."

PA Consulting Group, a global consulting firm with expertise in life sciences and healthcare, estimates the worldwide market for preservation media products to preserve cells, tissues, and organs for research and clinical applications will grow from $200 million in 2007 to more than $325 million by 2011.

About BioLife Solutions, Inc:

BioLife Solutions develops and markets patented hypothermic storage/transport and cryopreservation media products for cells, tissues, and organs. The Company's proprietary HypoThermosol(R) and CryoStor(TM) platform of biopreservation media products are marketed to academic research institutions, hospitals, and commercial companies involved in cell therapy, tissue engineering, cord blood banking, drug discovery, and toxicology testing. BioLife products are serum-free and protein-free, fully defined, and formulated to reduce preservation-induced, delayed-onset cell damage and death. BioLife's enabling technology provides research and clinical organizations significant improvement in post-preservation cell and tissue and viability and function.

This news release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include any statements that relate to the intent, belief, plans or expectations of the Company or its management, or that are not a statement of historical fact. Any forward-looking statements in this news release are based on current expectations and beliefs and are subject to numerous risks and uncertainties that could cause actual results to differ materially. Some of the specific factors that could cause BioLife Solutions' actual results to differ materially are discussed in the Company's recent filings with the U.S. Securities and Exchange Commission. BioLife Solutions disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

Media Relations: Investor Relations:

Len Hall Dan Matsui

Allen & Caron Inc. Allen & Caron Inc.

(949) 474-4300 (949) 474-4300

len@allencaron.com d.matsui@allencaron.com


'/>"/>
SOURCE BioLife Solutions Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. BioLife Solutions Announces FDA Master File Acceptance for CryoStor(TM) Pre-formulated Cryopreservation Media
2. BioLife Solutions Outsourcing Manufacturing, Warehousing, and Order Fulfillment to Bioserv Corporation
3. BioLife Solutions CryoStor(TM) Adopted by Tissue Regeneration Therapeutics for Preservation Protocol for New, Non-Embryonic Source of Stem Cells
4. BioLife Solutions Expands Scientific Advisory Board
5. BioLife Solutions Announces Exclusive CryoStor(TM) Supply Agreement With the New England Cryogenic Center, Inc.
6. Mentice, Inc. and Education Management Solutions, Inc. Form OEM Partnership
7. Finesse Solutions Launches TruBio 3.4 Bioreactor Control Software
8. Finesse Solutions Launches Improved E-Store for Sensors and Transmitters
9. Environmental Tectonics Corporation Announces a Multiple Sale of Hyperbaric Monoplace Chambers to Comprehensive Healthcare Solutions
10. Newly Integrated Software Suite From ZS Associates Offers Comprehensive Set of Sales Performance Management Software Solutions
11. Facet Solutions Completes Facet Joint and Disc Replacement Study
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... Apellis Pharmaceuticals, Inc. today announced positive ... its complement C3 inhibitor, APL-2. The trials were ... studies designed to assess the safety, tolerability, pharmacokinetics ... healthy adult volunteers. Forty subjects were ... dose (ranging from 45 to 1,440mg) or repeated ...
(Date:6/23/2016)... 23, 2016 On Wednesday, June 22, ... down 0.22%; the Dow Jones Industrial Average edged 0.27% lower ... 2,085.45, down 0.17%. Stock-Callers.com has initiated coverage on the following ... Therapeutics (NASDAQ: NKTR ), Aralez Pharmaceuticals Inc. (NASDAQ: ... BIND ). Learn more about these stocks by accessing ...
(Date:6/23/2016)... (PRWEB) , ... June 23, 2016 , ... ... a new line of intelligent tools designed, tuned and optimized exclusively for Okuma ... 12–17 in Chicago. The result of a collaboration among several companies with expertise ...
(Date:6/22/2016)... DIEGO , June 22, 2016 ... that will allow them to produce up to ... from one lot within one week. These high-quality, ... time laboriously preparing cells and spend more time ... possible through a proprietary, high-volume manufacturing process that ...
Breaking Biology Technology:
(Date:5/3/2016)... May 3, 2016  Neurotechnology, a provider of ... MegaMatcher Automated Biometric Identification System (ABIS) , a ... projects. MegaMatcher ABIS can process multiple complex biometric ... combination of fingerprint, face or iris biometrics. It ... and MegaMatcher Accelerator , which have ...
(Date:4/26/2016)... 2016 Research and Markets has ... Market 2016-2020"  report to their offering.  , ,     ... The analysts forecast the global multimodal biometrics market ... the period 2016-2020.  Multimodal biometrics is ... as the healthcare, BFSI, transportation, automotive, and government ...
(Date:4/14/2016)... Israel , April 14, 2016 ... Authentication and Malware Detection, today announced the appointment of ... assumed the new role. Goldwerger,s leadership appointment ... on the heels of the deployment of its platform ... BioCatch,s behavioral biometric technology, which discerns unique cognitive and ...
Breaking Biology News(10 mins):