Navigation Links
BioLife Solutions Announces Record Revenue and Receipt of Funding

Internal Manufacturing Scale-Up Underway to Support Increased Product Demand

BOTHELL, Wash., Jan. 26 /PRNewswire-FirstCall/ -- BioLife Solutions, Inc. (OTC Bulletin Board: BLFS), a leading developer and marketer of proprietary GMP hypothermic storage and cryopreservation media products for cells, tissues, and organs, today announced record revenue for the fourth quarter and full year 2008 and also the receipt of $1.4 million in funding for operations and the completion of construction and validation of a new manufacturing facility. The funding was provided via a previously disclosed credit facility with two shareholders.

Preliminary fourth quarter 2008 revenue was $417,818, an increase of 36 percent from the third quarter of 2008, and 40 percent over the fourth quarter of 2007. This includes initial orders from nearly 30 new customers. Preliminary full year 2008 revenue was $1,326,772, an increase of 36 percent over 2007 fiscal year revenue. Full audited results can be found in the Company's annual report Form 10-K, which is expected to be filed by March 31.

Mike Rice, BioLife's Chairman and CEO, commented on the Company's revenue performance by stating, "In 2008 we continued to successfully execute our revenue growth plan and also achieved several milestones that should drive accelerated adoption of our proprietary biopreservation media products, including submitting FDA Master Files and completing comprehensive animal safety studies. The regulatory environment surrounding cell and tissue based clinical therapies is becoming more stringent, which makes our offering of pre-formulated, GMP manufactured serum-free and protein-free biopreservation media products and consulting services to optimize biopreservation processing yield increasingly more valuable to a growing number of commercial companies and hospital based transplant labs."

Rice also provided an update on the Company's previous disclosure that it was transitioning from contract to internal manufacturing; "During the fourth quarter of 2008 we finalized the design of our production facility and executed a commercial lease. We're in the facility fit-up and validation phase and expect to be producing GMP products for customer shipments early in the second quarter. This should enable us to reduce our product costs during 2009, eliminate inventory backlog issues, and have the flexibility of providing custom packaging and product variants. Internal manufacturing is also highly strategic as this will help drive our direct and indirect distribution strategies, which are key corporate objectives for 2009."

BioLife Solutions will be presenting and exhibiting at the Phacilitate Cell & Gene Therapy Forum 2009, January 26-28 in Washington, DC (

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's cGMP products are serum-free and protein-free, fully defined, and pre-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 viability and function.

For more information please visit

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                          Matt Clawson
    Allen & Caron Inc                 Allen & Caron Inc
    (949) 474-4300                    (949) 474-4300      

SOURCE BioLife Solutions, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. BioLife Solutions to Supply CryoStor(TM) to Cryobanks International as Standard Media for Preservation and Storage of Umbilical Cord Blood Stem Cells
2. BioLife Solutions Expands Presence in Cell Therapy and Cord Blood Banking Market Segments
3. As States Cash Flow Crisis Looms, Protesters to Call Attention to Urgent Need for Real Budget Solutions
4. Forterus Healthcare to Acquire Solutions 4 Recovery
5. Victor Dragon Joins Health Integrated to Lead Solutions Group
6. HeartSaving Solutions Offers Free CPR Course for Parents
7. Precyse Solutions and Ingalls Memorial Hospital Sign Outsourced Transcription Agreement
8. PacketBase Increases Patient Satisfaction for Santa Cruz Medical Foundation with Avaya IP Communications & Contact Center Solutions
9. Carefx Reports 200% Year-Over-Year Revenue Growth in 2008 as Demand Grows for Solutions Focused on Clinical Decision Making
10. PSA Announces PathLab Coding Solutions Now Available
11. The Quantum Group and IBM Announce Hosting Agreement for Advanced Healthcare Solutions
Post Your Comments:
(Date:10/13/2017)... ... October 13, 2017 , ... Dickinson ... offers insurance and financial preparation services, is providing an update on a charitable ... , Rock City Rescue is a locally recognized nonprofit that provides shelter and ...
(Date:10/13/2017)... Nevada (PRWEB) , ... October 13, 2017 , ... ... Hemp CBD Oil utilizing Purzorb™ technology. Applying the Purzorb™process to full spectrum CBD oil ... required and providing a CBD form that can be easily incorporated into liquid products, ...
(Date:10/13/2017)... ... , ... The Visiting Nurse Association (VNA) of Somerset Hills is proud to ... unique items from across the nation, this holiday-themed event will raise funds and awareness ... VNA. The boutique will be open Saturday, November 4 (10:00 a.m. – 5:00 ...
(Date:10/13/2017)... ... October 13, 2017 , ... ... Agile Software Development, has been awarded a contract by the Center for Medicare ... (BPA) aims to accelerate the enterprise use of Agile methodologies in a consistent ...
(Date:10/12/2017)... Orleans, LA (PRWEB) , ... October 12, 2017 , ... ... centers in the U.S., announced today its plans to open a flagship location in ... will occupy the former Rooms To Go store next to Office Depot in the ...
Breaking Medicine News(10 mins):
(Date:10/2/2017)... Mich. , Oct. 2, 2017 Diplomat ... 8th Day Software and Consulting, LLC , and ... 8th Day Software, based in Tennessee ... LLC. 8th Day expands EnvoyHealth,s service offerings for health ... development. "In an ...
(Date:9/28/2017)... CHICAGO , Sept. 28, 2017 Hill-Rom ... quarter 2017 earnings conference call and webcast on Friday, ... 8:00 a.m. (EDT) and ending at approximately 8:30 a.m. ... to discussing the company,s 2017 financial performance and guidance ... growth opportunities, initiatives to enhance operational performance, and long-range ...
(Date:9/25/2017)... PROVIDENCE, R.I. , Sept. 25, 2017 /PRNewswire/ ... immunogenicity assessment, vaccine design, and immune-engineering today announced ... focused on the development of personalized therapeutic cancer ... and has provided exclusive access to enabling technologies ... MSc Eng., MBA will lead EpiVax Oncology as ...
Breaking Medicine Technology: