Navigation Links
BioLife Solutions Announces Record Quarterly Revenue
Date:4/6/2011

BOTHELL, Wash., April 6, 2011 /PRNewswire/ -- BioLife Solutions, Inc. (OTCBB: BLFS), a leading developer and manufacturer of clinical grade biopreservation media products for cells and tissues, today announced preliminary revenue of $611,000 for its first quarter ended March 31, 2011. This represents 6% sequential growth over the fourth quarter of 2010 and 19 percent growth from the first quarter of 2010.  

(Logo:  http://photos.prnewswire.com/prnh/20090814/BIOLIFELOGO)

Mike Rice, Chairman and CEO, commented on the Company's revenue by stating, "We're pleased with the progress we made last year and in the first quarter of 2011 in generating revenue growth to reduce our operating loss as we strive to reach profitability.  First quarter revenue was a mix of orders shipped to new accounts, including a new contract manufacturing customer, and strong orders from our numerous existing customers in the developing regenerative medicine market, where our proprietary biopreservation media products are used to extend stability and increase viability of biologics used in cell therapy and tissue-engineering applications.  We also realized strong growth in our indirect distribution channel, with year-to-date revenue already more than 50% of our full year 2010 total.  Our partners continue to build awareness of the value of our best-in-class biopreservation media products, and their efforts are resulting in increasing orders from their end customers."

MedMarket Diligence, LLC, estimates that the current worldwide market for regenerative medicine products and services is growing at 20 percent annually.  Rice commented, "We expect pre-formulated biopreservation media products such as our HypoThermosol® and CryoStor® to continue to displace 'home-brew' cocktails, creating demand for clinical grade preservation reagents that will grow at greater than the overall end market rate.  We estimate that in-house formulated 'home-brew' storage and freeze media comprise 80% of the market." 

The Company's financial statements for the first quarter of 2011 will be included in the Company's 10-Q quarterly report, which it expects to file with the U.S. Securities and Exchange Commission on or before May 16, 2011.

About BioLife Solutions, Inc.:Founded in 1998, with the initial development of its intellectual property base in 1992, BioLife Solutions develops, manufactures, and markets patented hypothermic storage/transport and cryopreservation (freeze) media products for cells, tissues, and organs, and also performs contract media manufacturing and contract research and development. The Company's proprietary HypoThermosol and CryoStor 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 GMP products are serum-free and protein-free, fully defined, and pre-formulated to reduce preservation-induced, delayed-onset cell damage and death.  US FDA Master Files are available for cross-reference. BioLife's enabling technology provides research and clinical customers significantly extended storage stability and improved post-preservation viability and recovery of cells, tissues, and organs.  For more information please visit www.biolifesolutions.com.

Safe Harbor StatementThis shareholder communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, statements about BioLife Solutions, Inc. (the "Company") and its future operating results, strategies, and product development plans. These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties.  Actual results could differ materially from the results expressed or implied in these forward-looking statements.  Factors that may cause or contribute to such differences are more fully discussed, as are other factors, in Part I, Item1A. "Risk Factors" of the Company's Form 10-K for the fiscal year ended December 31, 2010, which is on file with the SEC and available at www.EDGAR.com. In addition, any forward-looking statements represent our estimates only as of today and should not be relied upon as representing our estimates as of any subsequent date. While the Company may elect to update forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so except as may be legally necessary, even if the Company's estimates should change.Media Relations:Investor Relations:Len Hall

Matt ClawsonAllen & Caron Inc

Allen & Caron Inc(949) 474-4300

(949) 474-4300len@allencaron.com

matt@allencaron.com
'/>"/>

SOURCE BioLife Solutions, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. BioLife Solutions Increases 2011 Financial, Scientific, Technical Support of the Regenerative Medicine Industry
2. Tourtellotte Solutions Blazes Trail with New Release of Clinical Trial Supply Chain Simulator
3. Image Solutions, Inc. Acquires Zurich Biostatistics, Inc.
4. Facet Solutions Enjoys Continued Clinical Success With the Anatomic Facet Replacement System (AFRS(TM))
5. Facet Solutions AFRS(TM) Demonstrates Biomechanical Advantages Over Dynamic Stabilization in Independent Testing
6. Siemens Medical Solutions Diagnostics Inks Agreement with KreLo Medical Diagnostics to Expand Thyroid Immunoassay Menu
7. DATATRAK(TM) Takes Clinical Trial Solutions to the Next Level With the Release of 5.0
8. EndoGastric Solutions(TM) Announces Results of EsophyX(TM) Multi-Center GERD Study
9. Elektas New Line of Stereotactic Treatment Solutions is Redefining Excellence in Stereotaxy, a Case at a Time
10. Aon eSolutions Launches Clinical Trials Module
11. MedNet Solutions to Sponsor and Exhibit at the 2008 Advanced Medical Technology Association Conference in Washington, D.C.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/7/2017)... Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), ... Board of Directors has approved the payment of a quarterly ... The cash dividend of ... 27, 2017 to stockholders of record as of the close ... are subject to approval of the Board of Directors and ...
(Date:8/4/2017)... Aug. 3, 2017  Agragen, LLC, a ... in the biopharmaceutical, nutraceutical, and aquacultural feed sectors, ... its lead drug candidates, AGR131.  This drug is ... from the blood of patients suffering from inflammatory ... bowel disease. ...
(Date:8/2/2017)... WASHINGTON , Aug. 2, 2017 CaryRx, a ... same day delivery service for patients in the ... the traditional retail pharmacy by providing delivery of medications through ... scheduled for future delivery or delivered within one hour to ... "We are excited to bring this invaluable service to ...
Breaking Medicine Technology:
(Date:8/22/2017)... ... August 22, 2017 , ... Pivot ... addition of Zack Tisch as the firm’s new Consulting Services Executive. Mr. Tisch ... firm’s national accounts, from assisting clients with initial vendor selection and pre-implementation planning ...
(Date:8/22/2017)... ... August 22, 2017 , ... ... announced recently the availability of a new professional fee E/M leveling calculator tool. ... service to the healthcare industry. E/M coding is complex which supports the need ...
(Date:8/22/2017)... ... ... is new to the Texas market, but is proudly managed by widely recognized All Star ... in Grand Prairie, TX, located in the center of the DFW Metroplex, the fourth largest ... the past 40 years with 32 convenient locations in Texas, Nevada and California resulting in ...
(Date:8/22/2017)... ... , ... “Wilderness Voices”: a collection of poetry inspired by life on a ... of published author, Martha McKown, an ordained United Methodist minister with graduate degrees in ... when her older sisters studied High School literature. She loved the early English ...
(Date:8/22/2017)... ... August 22, 2017 , ... ... Awakening” is the creation of published author, Julianne Hale, a consultant for the ... policy and counter-terrorism expert focusing on the Near East region. Julianne has ...
Breaking Medicine News(10 mins):