Media & Investor Relations:
Roderick de Greef
Chief Financial Officer
(425) 402 - 1400
Broadridge Corporate Issuer Solutions, Inc.
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Brentwood, New York 11717
(877) 830 - 4936
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BOTHELL, Wash., Jan. 23, 2018 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS), the leading developer, manufacturer and marketer of proprietary clinical grade biopreservation media ("BioLife" or the "Company"), today announced that its joint venture partner SAVSU Technologies ("SAVSU") will supply SAVSU smart precision shipping containers throughout the World Courier network. SAVSU designs and manufactures innovative high-performance cloud-connected passive storage and transport containers optimized for the cell and gene therapy supply chain. World Courier is the global leader in specialty logistics and a part of AmerisourceBergen.
The combination of World Courier's global logistics network and SAVSU's patent pending, enhanced temperature-controlled evo DV4 & DV10 liquid nitrogen (LN2) shippers will enable cell and gene therapy developers to more efficiently and effectively move critical biologic shipments at cryogenic temperatures worldwide, with enhanced visibility and shipment monitoring capabilities.
The addition of these shippers to World Courier's packaging fleet connects therapy developers to the latest cold chain technologies, and offers a greater choice of options for cryogenic shipping. This extends World Courier's track record of developing and verifying the latest technology through its Climate Optimisation Research and Engineering (CORE) Labs, to provide its customers with access to a wide range of market-leading packaging solutions.
The combination of World Courier and evo LN2 dry vapor shippers offer significant value to cell and gene therapy developers by providing:
- Short lead times, enabled by SAVSU's rapid charging and availability throughout World Courier's 140+ owned office global network
- High quality and extended temperature performance, underpinned by the transformative design of evo smart shippers and world-class specialty logistics capabilities of World Courier
- Low cost profile as a result of reduced shipper weight and dimensions
- Real time data visibility and traceability through the evo.is SaaS dashboard, amplified into actionable information by the global reach of World Courier to intervene and remediate if required
- Seamless integration of shipping container supply and logistics, coupled with full vein-to-vein traceability for customers through integration with cell orchestration platforms
Bruce McCormick, President and CTO of SAVSU, commented that "by partnering with World Courier, we are now able to provide customers with a new level of service and peace of mind for their personalized medicine and other biologic shipments, on a global scale."
World Courier is working to realize the full potential of cell and gene therapies for both patients and manufacturers. At the same time, the company aims to improve supply chain performance for the global healthcare market by providing more reliable and cost-effective clinical trial and commercial product transport. For more information please visit https://www.worldcourier.com/insights-events/market-insights/detail/savsu-dry-shippers.
Due to the expanded marketing reach of World Courier, and to eliminate potential channel conflict, BioLife and SAVSU have agreed to terminate the marketing services agreement originally entered into between the companies on December 31, 2016. In exchange, BioLife's equity ownership in SAVSU, previously scheduled to be reduced to 25% on December 31, 2019, has now been fixed at 35%, before taking into account any additional capital contributions made after December 31, 2016.
Mike Rice, BioLife Solutions CEO, commented, "The alliance between World Courier and SAVSU is an endorsement of the best in class technologies we have developed over the past three years. This is a critical inflection point in the cell therapy market, as awareness of the critical need for better cold chain technologies for personalized medicine has never been greater."
About BioLife Solutions
BioLife Solutions develops, manufactures and markets biopreservation media products and smart shipping containers connected to a cloud hosted cold chain management app to improve the quality of delivery logistics for cells, tissues, and organs. The Company's proprietary HypoThermosol® and CryoStor® platform of solutions are highly valued in the regenerative medicine, biobanking, and drug discovery markets. BioLife's biopreservation media products are serum-free and protein-free, fully defined, and are formulated to reduce preservation-induced cell damage and death. BioLife's enabling technology provides commercial companies and clinical researchers significant improvement in shelf life and post-preservation viability and function of cells, tissues, and organs. For more information please visit www.biolifesolutions.com and follow BioLife on Twitter.
Except for historical information contained herein, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements concerning the company's anticipated business and operations, guidance for financial results in 2018, the potential utility of and market for its products and services, potential revenue growth and market expansion, regulatory approvals and/or commercial manufacturing of our customers' products, and potential customer revenue. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including among other things, uncertainty regarding market adoption of products; uncertainty regarding third-party market projections; market volatility; competition; litigation; and those other factors described in our risk factors set forth in our filings with the Securities and Exchange Commission from time to time, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We undertake no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, other than as may be required by applicable law.
Media & Investor Relations
Roderick de Greef
Chief Financial Officer
SOURCE BioLife Solutions, Inc.