BioLife Solutions Executes Supply Agreement with Adaptimmune for CryoStor® Use in SPEAR T-Cell Platform

Proprietary Clinical Grade Cell Freeze Media Enables Long-Term Storage and Distribution of T-Cells

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Jun 14, 2017, 06:00 ET

Biolife Solutions Inc. logo. (PRNewsFoto/BIOLIFE SOLUTIONS INC.)

BOTHELL, Wash., June 14, 2017 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS), a leading developer, manufacturer and marketer of proprietary clinical grade cell and tissue hypothermic storage and cryopreservation freeze media and a related cloud hosted biologistics cold chain management app for smart shippers ("BioLife" or the "Company"), today announced that it has entered into a supply agreement with NASDAQ-listed Adaptimmune Therapeutics plc.

Adaptimmune, a leader in T-cell therapy to treat cancer, has multiple trials ongoing in both solid tumors and hematologic cancer types, and in cancers where survival rates for patients can be very limited. Adaptimmune's SPEAR T-cells have shown evidence of tumor reduction in patients as well as a promising risk/benefit profile. BioLife's CryoStor clinical grade cell freeze media is incorporated into Adaptimmune's manufacturing process for its SPEAR T-cells.

In addition, CryoStor and HypoThermosol^®, BioLife's companion cell storage and shipping media, have been used in at least 250 regenerative medicine applications, including several late stage clinical trials.

Mike Rice, BioLife President & CEO, commented, "We are pleased to have the opportunity to support Adaptimmune as it progresses development of its novel cancer immunotherapies. We believe this agreement represents further validation of the role our proprietary biopreservation media products can play in that process."

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 biobanking, drug discovery, and regenerative medicine 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.

The evo cloud based cold chain management service is an integrated logistics and tracking and trace web app used by shippers of time and temperature sensitive biologic materials. The evo Smart Shipper family includes state of the art precision thermal shipping containers with embedded payload monitoring, GPS location tracking, and cellular communication electronics that transmit critical shipment information to the cloud. The evo SaaS app enables users to monitor high value shipments during transit and configure actionable alerts for downstream recipients for location, approaching destination, delivery, package open, and remaining shelf life or stability via the patent pending StableAlert™ countdown timer. For more information please visit www.biolifesolutions.com, and follow BioLife on Twitter.

This press release contains forward-looking statements, including, but not limited to, statements concerning new products, the company's anticipated business and operations, the potential utility of and market for its products and services, potential revenue growth and market expansion, market adoption of biologistex, commercial manufacturing of our customers' products, potential proceeds from the credit facility, and projected financial results, cash flow and liquidity, including the potential for reaching positive cash flow from operations next year. 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.