BioLife Solutions Leverages Expanded Bioproduction Tools and Services Portfolio in Multipoint Engagement with Leading CAR T-Cell Developer

Rhea-AI Summary

BioLife Solutions (NASDAQ: BLFS) announced a collaboration with a top 10 global pharmaceutical company to employ its CryoStor freeze media, evo cold chain management platform, and SciSafe storage services for the launch of a new CAR T-cell therapy. This engagement represents BioLife's strategic push in the cell and gene therapy market. CEO Mike Rice highlighted the company's commitment to supporting bioproduction needs. Currently, CryoStor is used in the manufacturing of several approved therapies and is embedded in additional therapies expected to gain regulatory approval soon.

Positive

• Collaboration with a major pharmaceutical company to support CAR T-cell therapy launch.
• CryoStor freeze media exclusively used in manufacturing multiple approved biologic therapies.
• Potential for embedded CryoStor in additional therapies that may receive regulatory approval within 3-4 quarters.

Negative

• None.

BOTHELL, Wash., Oct. 4, 2021 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS) a leading developer and supplier of class-defining bioproduction products and services for cell and gene therapies and the broader biopharma market, today announced a broad engagement with a leading cell therapy developer, wherein BioLife's CryoStor freeze media, evo cold chain management platform and SciSafe storage services with Stirling UltraCold freezers are all being utilized by this top 10 largest global pharmaceutical company to support the anticipated regulatory approval and commercial launch of a new CAR T-cell therapy.

Mike Rice, BioLife's Chairman and CEO, commented, "This is another relevant example of how we are leveraging our relationships with cell and gene therapy companies to expand our engagements by providing multiple bioproduction tools and services used in manufacturing, storage and distribution.  Our class-defining CryoStor biopreservation media and evo cold chain management platform, and state-of-the-art and secure biostorage services and facilities enable research teams to focus on what matters most to them – to improve the lives of patients through the discovery, manufacturing and commercialization of biologic medicines that can prevent, treat, and cure some of the world's most life-threatening diseases."

To date, BioLife's CryoStor freeze media is exclusively used in the manufacturing process of every dose of the following approved biologic therapies. 

1. YESCARTA^® from Kite, a GILEAD company, approved in the USA, EU, Japan, and China
2. ZYNTEGLO™ from bluebird bio, approved in the EU
3. BREYANZI^® from Bristol Myers Squibb, approved in the USA and Japan
4. TECARTUS^® from Kite/Gilead, approved in the USA
5. SKYSONA™ from bluebird bio, approved in the EU
6. ABECMA^® from Bristol Myers Squib and bluebird bio, approved in the USA, EU, and Canada
7. Undisclosed – approved outside the USA

CryoStor is also exclusively embedded in the manufacturing and the final drug formulation of 3 additional cell therapies that could receive regulatory approval in the next 3-4 quarters.

About BioLife Solutions

BioLife Solutions is a leading supplier of cell and gene therapy bioproduction products and services. Our portfolio includes our proprietary CryoStor^® freeze media and HypoThermosol^® shipping and storage media, ThawSTAR^® family of automated, water-free thawing products, evo^® cold chain management system, Custom Biogenic Systems^® high-capacity cryogenic freezers, Stirling Ultracold ULT freezers, SciSafe biologic materials storage, and Sexton cell processing tools. For more information, please visit www.biolifesolutions.com, www.scisafe.com, www.stirlingultracold.com, and www.sextonbio.com, and follow BioLife on Twitter.

Cautions Regarding Forward Looking Statements

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 ability to implement its business strategy and anticipated business and operations, the potential utility of and market for the company's products and services and the company's ability to cross sell its products and services, including its recently acquired products, potential market expansion, including with consideration to our recent acquisitions and giving effect to the COVID-19 pandemic, regulatory approvals and/or commercial manufacturing of our customers' products, potential customer revenue, and our ability to retain our current customers on an exclusive basis, if at all. 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, market adoption of the company's products (including the company's recently acquired products), the ability of the company to continue to implement its business strategy, market volatility, competition, litigation, the impact of the COVID-19 pandemic, 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, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. 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.

Contacts:

At the Company
Roderick de Greef
Chief Financial Officer
(425) 686-6002
rdegreef@biolifesolutions.com

Investors
LHA Investor Relations
Jody Cain
(310) 691-7100
jcain@lhai.com

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SOURCE BioLife Solutions, Inc.

FAQ

What recent collaboration did BioLife Solutions announce?

BioLife Solutions announced a collaboration with a top 10 global pharmaceutical company to utilize its products for a new CAR T-cell therapy.

How is BioLife Solutions' CryoStor freeze media being utilized?

CryoStor freeze media is being used in the manufacturing process of several approved biologic therapies and is embedded in additional cell therapies expected for regulatory approval.

What company is collaborating with BioLife Solutions?

BioLife Solutions is collaborating with a leading global pharmaceutical company, one of the top 10 largest in the world.

What are the expected outcomes of BioLife's collaboration?

The collaboration aims to support the regulatory approval and commercial launch of a new CAR T-cell therapy.

How does BioLife's CEO view the recent engagement?

CEO Mike Rice emphasizes that the engagement demonstrates how BioLife is leveraging relationships to expand its offerings in the bioproduction sector.