Navigation Links
BioLife Solutions Completes First $1 Million Revenue Quarter
Date:7/9/2012

BOTHELL, Wash., July 9, 2012 /PRNewswire/ -- BioLife Solutions, Inc. (OTCBB: BLFS), a leading developer, manufacturer and marketer of proprietary clinical grade hypothermic storage and cryopreservation freeze media for cells and tissues, and contract media manufacturer, today announced that it expects to report record revenue of $1,092,450 for its second quarter ended June 30, 2012, up approximately 76 percent from last year's second quarter, and up 31 percent from the first quarter of this year. This was the eighth consecutive quarter of sequential revenue growth reported by the Company.

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

Chief Executive Officer Mike Rice said, "We're very pleased to have reached this milestone and to have taken another significant growth step as we scale our business and approach positive cash flow from operations.  Our platform HypoThermosol® and CryoStor® biopreservation media products continue to be recognized and adopted as the preferred, best-in-class storage/shipping and cryopreservation freeze media for clinical applications of cells and tissues."

As previously forecasted by management, initial shipments to BioLife's recently acquired contract-manufacturing customer commenced in the second quarter of 2012 and also contributed to the record revenue performance.

Rice continued, "We demonstrated our expertise and manufacturing capacity to our new partner by successfully delivering numerous batches and by offering several quality and process optimization improvements.  The build-out of our second cGMP clean room suite and the hiring of several new team members to support this contract manufacturing agreement are ahead of schedule. We look forward to completing validation and commencing increased production in the fourth quarter of 2012."

BioLife expects to report its full financial results for the second quarter of 2012 before August 15, 2012.

About BioLife SolutionsBioLife Solutions develops, manufactures and markets patented hypothermic storage and cryopreservation freeze media products for cells and tissues.  The Company's proprietary HypoThermosol® and CryoStor® platform of solutions are marketed to academic and commercial organizations 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 academic and clinical researchers significant improvements in post-thaw cell, tissue, and organ viability and function.  For more information please visit www.biolifesolutions.com, and follow BioLife on Twitter.

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 ClawsonAllen & Caron Inc

Allen & Caron Inc(949) 474-4300

(949) 474-4300len@allencaron.com

matt@allencaron.com
'/>"/>

SOURCE BioLife Solutions, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. MedVantx Names New VP Employer Solutions and Workplace Health
2. Medical Oncology Association of Southern California Purchasing Network (MPN) Names Cardinal Health Specialty Solutions as its Primary Healthcare Solutions Partner
3. Best Solutions Medical to Seek GSA, Drive Expansion and Service VA Hospitals
4. Frost & Sullivan to Host Complimentary Web Conference: Concerns and Solutions for the Anaesthesia Equipment and Associated Peripherals Market
5. Prairie Education & Research Cooperative Joins MedNet Solutions iMedNet CRO Partner Program
6. Softway Solutions Develops Award-Winning Health App for Texas Heart Institute
7. Frazier Healthcare Acquires U.S. Commercial Pharmaceutical Packaging Operations from Catalent Pharma Solutions
8. MedNet Solutions to Unveil Innovative New iMedNet EDC Features at The 48th DIA Annual Meeting
9. DATATRAK Expands CDISC Registered Solutions Provider Standards
10. Ablative Solutions Completes $5.3M Series A Financing
11. UBM Canon, the Global MedTech Authority, Partners with the World Medical Device Organization, WMDO, to Provide Medical Device Companies with Industry-Related Online Training Solutions
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... -- PipelineRx, a leading medication management technology company focused ... its SaaS-based telepharmacy platform, PowerGridRx™ , at ... Clinical Meeting and Exhibition, December 5-7 in ... hospital clients nationally, the Company is a leader ... improve pharmacy operations, enhance patient safety, and reduce ...
(Date:12/2/2016)... , December 2, 2016 ... Awards Committee honored excellence in research, development and innovation ... The gala dinner was held in the presence of ... the Russian Federation , Natalia Sanina, ... Mikhail Murashko , Head of Roszdravnadzor, National Service ...
(Date:12/2/2016)...  Eli Lilly and Company (NYSE: LLY ... provide updated financial guidance for 2016 on Thursday, December ... on that day with the investment community and media ... The conference call will begin at 10 a.m. ET. ... live webcast of the conference call through a link ...
Breaking Medicine Technology:
(Date:12/2/2016)... CA (PRWEB) , ... December 02, 2016 , ... ... care journeys, announced today that it has raised $6.0 million in an initial ... by Clarify Health’s conviction that patients and their caregivers can receive far better ...
(Date:12/2/2016)... ... December 02, 2016 , ... Today CloudMine, ... connected applications, was named the best Sales Team of 2016 as part of ... made today by the Software & Information Industry Association (SIIA), the principal trade ...
(Date:12/2/2016)... ... December 02, 2016 , ... ‘Tis the season for giving! Today, 20 creative ... National Family Partnership and the Drug Enforcement Administration as part of the National Red ... 10 winning schools who decorated their campuses with this year’s Red Ribbon Week theme: ...
(Date:11/30/2016)... , ... November 30, 2016 , ... ... they now offer a comprehensive in-house dental plan for all patients. Understanding that ... a plan that gives patients a number of perks, including discounts on many ...
(Date:11/30/2016)... PALMYRA, Wisconsin (PRWEB) , ... November 30, 2016 ... ... inclusion in the 2016 Deloitte Wisconsin 75, an annual ranking and recognition of ... consecutive year on the list, having ranked from 2008-2016. In addition, Standard Process ...
Breaking Medicine News(10 mins):