Strategy to Focus on Sales Growth and Product Development
BOTHELL, Wash., Oct. 29 /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 has outsourced product manufacturing, warehousing, and customer order fulfillment to Bioserv Corporation, a subsidiary of NextPharma Technologies Inc. Bioserv is a San Diego-based contract manufacturer serving the pharmaceutical, biologics, and medical device markets.
BioLife selected Bioserv following a detailed evaluation of several contract manufacturing services providers.
Jeanne Dunham, Bioserv president and chief executive, commented: "We're very excited to have been selected as BioLife's outsourced services provider. BioLife is positioned to capture a significant share of the demand for preservation media in the high-growth cord blood banking, cell therapy and drug discovery markets, and our capabilities and scalability are well aligned with BioLife's current and future requirements for that expansion. We look forward to supporting, and participating in, BioLife's future growth through this strategic relationship."
BioLife Chairman and Chief Executive Mike Rice remarked: "Outsourcing supports our strategic plan to grow sales while focusing on continual scientific innovation in preservation media development and contract research. Bioserv's proven commitment to high-quality manufacturing and customer service was a key factor in our decision. And having Bioserv warehouse our inventory and fulfill orders will also enable us to reduce production and other operating expenses and allow us to commit additional resources to expanding our sales and scientific teams, which will better position BioLife to execute its growth plan."
About Bioserv Corporation
Bioserv is a Contract Manufacturing Organization (CMO) providing aseptic and non-aseptic bulk formulation, filtration, filling and lyophilization services, plus packaging, labeling, validation, documentation services and controlled product storage. The company serves small to large corporations world-wide in the biotechnology, pharmaceutical, diagnostic, medical device and cosmetic industry. Founded in 1988, Bioserv has more than 40,000 square feet of cGMP facilities. Bioserv is FDA licensed for drugs and medical devices and ISO 13485:2003 certified for medical devices. Bioserv is a subsidiary of NextPharma Technologies.
NextPharma Technologies, headquartered in the UK and founded in 2000, is a leading provider of product development, contract manufacturing and distribution outsourcing services to the pharmaceutical, specialty pharmaceutical, generics and biotech industry. It offers a broad range of services from early phase product development to high volume commercial lyophilization and manufacturing with specific expertise in analytics and clinical trial supplies. NextPharma operates globally with five product development centres, seven manufacturing plants and five logistics sites across Europe and North America. Across these locations NextPharma has built-up a strong track record in the development and manufacture of cytotoxics, hormones, antibiotics, pellets, sterile, solid, semi-solid, liquid, fill finish and dry dosage forms, supplying customers in North America, Europe and Japan.
About BioLife Solutions
BioLife Solutions develops and markets patented hypothermic storage and cryopreservation media products for cells, tissues, and organs. The Company's proprietary HypoThermosol(R) and CryoStor(TM) platform of preservation media products are marketed to academic research institutions, clinical care provider organizations, and commercial companies involved in cell therapy, tissue engineering, cord blood banking, drug discovery, and toxicology testing. BioLife's products are serum-free and protein-free, fully defined, and are 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. For more information please visit http://www.biolifesolutions.com.
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 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
|SOURCE BioLife Solutions Inc.|
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