BOTHELL, Wash., June 21, 2011 /PRNewswire/ -- BioLife Solutions, Inc. (OTCBB: BLFS), a leading developer and manufacturer of clinical grade biopreservation media products for cells and tissues, today announced that it has become the leading supplier of pre-formulated GMP cryopreservation media for umbilical cord blood stem cells, a key segment of the Company's strategic biobanking market. BioLife Solutions, which will be exhibiting at the 9th Annual International Umbilical Cord Blood Transplantation Symposium June 23-25 in San Francisco, also announced that it has captured a significant share of this market through its expanding relationships with direct and indirect customers such as China Cord Blood Bank (through contract manufacturing customer OriGen Biomedical), Community Blood Services and its numerous contract banking services customers, ViaCord, a cord blood banking service, and previously announced Lifeforce Cryobanks and New England Cord Blood Bank.
Mike Rice, Chairman and CEO, commented on BioLife's increasing share of this market by stating, "Through our direct sales channel, we've built a solid foundation of high-volume end-users of our GMP grade CryoStor and BloodStor® stem cell freeze media products. Over the last two years, we've also grown our market share through private label contract manufacturing agreements with leading suppliers of cord blood processing tools, whose customers include some of the world's largest cord blood banking organizations. We estimate that through our direct and indirect distribution channels, we are the leading supplier of pre-formulated cord blood and tissue stem cell freeze media products."
BioLife management estimates that over 500,000 cord blood units were processed in 2010.
In support of the Company's objective to continually increase the qu
|SOURCE BioLife Solutions, Inc.|
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