BOTHELL, Wash., Nov. 13, 2013 /PRNewswire/ -- BioLife Solutions, Inc. (OTCQB: BLFS), a leading developer, manufacturer and marketer of proprietary clinical grade hypothermic storage and cryopreservation freeze media for cells and tissues, and contract aseptic media manufacturer, today announced that it has been named to the Deloitte 2013 Fast Technology 500 list of North American innovative, high growth technology companies.
The Deloitte Technology Fast 500 is the pre-eminent technology awards program in United States and Canada with 2013 being its Nineteenth anniversary. Combining technological innovation, entrepreneurship and rapid growth, Fast 500 companies – large, small, public and private – span a variety of industry sectors, and are leaders in hardware, software, telecom, semiconductors, life sciences and emerging areas, such as clean technology. These companies are on the cutting edge and are transforming the way we do business.
Mike Rice, BioLife Solutions CEO, remarked, "Being recognized on the Deloitte Fast Technology 500 is a great accomplishment for our entire team. Over the last several years, we have worked very hard to build a successful franchise in the high growth regenerative medicine industry, where our HypoThermosol® and CryoStor® biopreservation media products are now incorporated into 100 hospital-approved and clinical trial stage cell and tissue-based products and therapies that have the potential to revolutionize how the leading causes of death and disorders are treated throughout the world. The next five years hold tremendous potential for BioLife's revenue and profit growth as our customers complete clinical trials and commence large-scale commercial production of cell and tissue-based products. Our biopreservation IP is embedded in the source material and manufactured doses of these novel regenerative medicine applications, so we're positioned for high growth and have the capacity to meet future demand for our products."
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have 2008 operating revenues of at least $50,000 USD or CD, and 2012 operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About BioLife Solutions
BioLife Solutions develops, manufactures and markets biopreservation media and high performance thermal packaging products 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 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 academic 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.
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning our financial and business outlook for 2013, and other anticipated developments related to us, our business or customers. 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 the 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.
SOURCE BioLife Solutions, Inc.