PRESS
RELEASE
BIOLIFE SOLUTIONS INC. REPORTS PRELIMINARY SALES
FOR FIRST-QUARTER 2007
41% Sales Growth Driven By Increasing Product Adoption in Cell Therapy Market
OWEGO, NY – April 5, 2007 – BioLife Solutions Inc. (OTC BB: BLFS), a leading developer
and manufacturer of proprietary preservation media for cells, tissues, and organs, today
announced preliminary sales for first-quarter ended March 31, 2007, of approximately
$208,000, which represents 41 percent growth over the first quarter of 2006 and 18
percent sequential growth compared to the fourth quarter of 2006.
Chief Executive Mike Rice remarked: “First-quarter sales growth was driven by increased
use of our HypoThermosol® and CryoStor™cell preservation products by several
emerging and established companies engaged in commercializing new cellular-based
therapies to treat cancer, heart disease, HIV, and skin and bone disorders.
“Our products are being used increasingly to preserve and transport biologic material
from collection sites to processing facilities and also to transport final cell therapy
products to clinical sites for patient application,” Rice continued. “Our patented
preservation media products benefit our cell therapy customers by improving post
preservation viability of cellular source material and finished products.”
Rice added: “The cost structure and clinical impact of cell therapy products are heavily
dependent on the effectiveness of the preservation and transportation protocols used.
We’re pleased that a growing number of cell therapy companies recognize the unique
advantages our products provide in optimizing these protocols.”
According to an August 2006 research report published by Jain PharmaBiotech, the total
value of cell-based markets was $27 billion in 2005 and is expected to grow to $96
billion in 2015, as more than 300 companies are engaged in developing cell-based
alternatives to medical devices and drugs to treat and possibly cure numerous acute and
chronic diseases.
PA Consulting Group, a global consulting firm with expertise in life sciences and
healthcare, estimates the worldwide market for media to preserve cells, tissues, and
organs for research and clinical applications will grow from $200 million in 2007 to
more than $300 million by 2011.
BioLife expects to report final results for first-quarter 2007 and file Form 10-Q on or
about May 14, 2007.
As part of its expanded sales and marketing strategy, BioLife will be exhibiting and
presenting at the following events:
• BIO 2007 annual international convention, May 6-9 in Boston, MA
• International Society for Stem Cell Research (ISSCR) annual meeting, June 17-
21 in Cairns, Australia
• International Society for Cellular Therapy (ISCT) annual meeting, June 24-27
in Sydney, Australia
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.