BioLife Solutions (BLFS) Provides Updates on Growing Customer Base and Product Demand

QualityStocks would like to highlight BioLife Solutions (OTCBB: BLFS). The company 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.

In the company’s news yesterday,

BioLife Solutions issued a corporate update.

BioLife said the number and quality of life science organizations using the company’s products are improving, with these customers now purchasing HypoThermosol® and/or CryoStor® to support the development of new regenerative medicine products and therapies.

“We continue to acquire new regenerative medicine customers who are aware of growing regulatory oversight of reagents used in the manufacturing, storage, and delivery processes of novel cell- and tissue-based products,” Mike Rice, chairman and CEO stated in the press release. “Our GMP-manufactured, serum-free, protein-free biopreservation media products have a robust quality profile and proven superior preservation efficacy across a broad spectrum of cell and tissue types. The cost, quality, and performance of our products are all highly aligned with the requirements of the regenerative medicine market.”

BioLife said it now holds more than several hundred accounts, which are comprised of private and public companies, as well as hospital-based transplant centers.

Rice noted that due to tighter regulations, the company anticipates growing demand for its regenerative solutions, especially once they obtain necessary approvals.

“As regulatory scrutiny increases, we expect pre-formulated biopreservation media products such as our HypoThermosol and CryoStor to continue to displace ‘home-brew’ preservation cocktails. While the regenerative medicine market is still in an early phase, our technologies are embedded into numerous clinical trial stage products and we see significant upside in the company’s financial operations from fulfilling potential increased product demand, should our customers’ products gain regulatory and marketing approvals,” Rice stated.

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