PRESS
RELEASE
BIOLIFE SOLUTIONS EXPANDS PRESENCE IN CELL THERAPY AND CORD BLOOD BANKING MARKET SEGMENTS
Oncolix, Inc. Selects CryoStor™ for Cryopreservation of Cell-Based Melanoma Therapy
BOTHELL, WA – March 27, 2008 – BioLife Solutions Inc. (OTC BB: BLFS), a leading developer
and marketer of proprietary hypothermic storage and cryopreservation media products for
cells, tissues, and organs, today provided updated information on the adoption of its products
in the cellular therapy and cord blood banking market segments.
BioLife announced that Oncolix, Inc., a biopharmaceutical company based in Greenville, South
Carolina, is developing a potential lifesaving treatment for stage IV melanoma and has adopted
CryoStor for the cryopreservation of the Company’s proprietary dendritic cell-based cancer
therapy. Michael Redman, President and CEO of Oncolix, commented on the selection of
CryoStor for the company’s novel treatment for stage IV melanoma by stating, “We evaluated
other commercial cryopreservation media as well as an in-house formulation and found that
CryoStor clearly offered post-preservation improvement in cellular yield and function without
the use of human serum. Our 25-patient phase II clinical trial will commence within a few weeks
so we’re quite pleased that this variable in our development process has been locked down.”
BioLife Chairman and CEO Mike Rice also commented on the use of CryoStor for the
cryopreservation of umbilical cord blood: “The worldwide cord blood banking market is
experiencing significant growth. We are currently supporting evaluations of CryoStor at several
of the largest cord blood banks in the US, Europe, and Asia, and are optimistic that the results
of these evaluations will mimic earlier published data about the advantages CryoStor and could
lead to further product adoption in this key market.”
Rice then remarked on the growing adoption of BioLife products in two strategic market
segments: “We’re happy to report that we have gained numerous new customers in the cellular
therapy market as a result of repeatedly demonstrated improvements in yield, quality, and
costs related to biopreservation of biologic source material and manufactured cell therapy
products. Over one hundred cell therapy companies have evaluated or adopted
HypoThermosol® and/or CryoStor for use in the production of novel cellular therapy products
targeting a multitude of diseases and disorders such as cancer, heart failure, vision loss,
neurologic disorders, and many others. Our products also extend the shelf life and transport
time of both very precious blood and tissue based source material as well as for final cell-based
clinical products. Several customers have commented that use of our products is critical to
enabling eventual commercialization of their cell-based therapies.”
BioLife Solutions Expands Presence in Cell Therapy and Cord Blood Banking Market Segments
About Oncolix
Oncolix is a drug development company focused on treatments for cancer. The company is
currently evaluating Melaxin®, a cellular therapy, for the treatment of metastatic melanoma in a
Phase IIa clinical trial. In addition, the Company has a prolactin receptor antagonist (Prolanta®)
for the treatment of breast cancer, which is expected to be evaluated in a Phase I trial in early
2009.
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.