BioLife Solutions, Inc. (OTCQB: BLFS), a leading developer, manufacturer and marketer of proprietary clinical grade hypothermic storage and cryopreservation freeze media products for cells and tissues, and contract aseptic media manufacturer, and SAVSU Technologies, Inc., a subsidiary of Barson Corporation, today jointly announced an agreement wherein BioLife will exclusively market and distribute SAVSU's proprietary precision thermal packaging products to the stem cells and regenerative medicine markets.
Mike Rice, BioLife Solutions President and CEO, stated, "This agreement represents another step to expand our best-in-class biopreservation tools portfolio. SAVSU's precision thermal packaging products ensure temperature stability that is another important element in the continuum of biologistics of precious human cells and tissues. This partnership will expand opportunities for BioLife to help our customers further optimize and improve the critical yield and cost dynamics of transporting biologic source materials and manufactured cell and tissue products within a required and validated temperature range."
The regenerative medicine market is expected to grow to more than $35 billion by 2019, according to TriMark Publications' recently published "Regenerative Medicine Markets" report. BioLife's addressable portion of the market is the demand for reagents and precision thermal packaging products used to store, ship and freeze source material and manufactured doses of cell-based products and therapies.
Bruce McCormick, President & CEO of SAVSU Technologies, commented, "We are very pleased to appoint BioLife as our exclusive distributor to the stem cells and regenerative medicine markets. Our products are highly complementary and the BioLife team has demonstrated remarkable success in achieving market adoption of novel biopreservation tools. We look to BioLife to present our value proposition at scientific conferences and to consult with their customers to enable an even more robust performance and quality profile of cell and tissue based products and therapies."
SAVSU's reusable, cost-effective, precision thermal packaging products offer superior temperature stability, extreme durability, and an interior payload volume customizable for relevant source material and final manufactured dose form factors used in the stem cells and regenerative medicine markets.
BioLife Solutions and SAVSU representatives will be presenting the combined product offering at the following upcoming conferences:
Stem Cells & Regenerative Medicine Conference
September 30 – October 1, 2013
Hyatt Regency, Cambridge, MA
GDP & Temperature Management Logistics Global Forum
September 30 – October 4, 2013
Hyatt Regency McCormick Place, Chicago, IL