BioLife Solutions Announces New evo® Cold Chain Customers

Leading Cell and Gene Therapy Companies are De-Risking Clinical Trial and Commercial Shipments by Using State of the Art Cloud-Connected Shippers and evo.is

BOTHELL, Wash., Sept. 16, 2019 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS), a leading developer and supplier of a portfolio of best in class bioproduction tools for cell and gene therapies, today announced several new customers have adopted the evo cold chain management system in clinical trials targeting cancer and other leading causes of death. The evo system was designed by SAVSU Technologies, which was acquired by BioLife in August 2019.

New evo customers joining the previously announced Mustang Bio and Novartis include Adaptimmune, Autolus, Janssen, KBI Pharma, Nanjing Legend and Tessa Therapeutics. Management estimates that 2020 evo product revenue will range from $4 - $6 million, based on anticipated growth in the deployed fleet of evo shippers by the leading specialty couriers serving the cell and gene therapy industry.

Mike Rice, BioLife Solutions CEO, remarked, "By partnering with the leading specialty couriers and leveraging their worldwide sales, marketing and operations footprint, we continue to drive adoption of the evo system in the regenerative medicine space. We expect to capture a significant share of early stage cell and gene therapy companies as evo customers. In the coming quarters, we also expect to announce the complete or partial migration of several additional high-profile cell and gene therapy companies from using the established market leader to using the evo system. The evo system includes many significant innovations that can reduce the likelihood of in-transit issues that arise when using outdated competing solutions, including temperature excursions and payload breakage due to mechanical shock. In the emerging pay on response reimbursement paradigm, de-risking the possibility of administering a non-viable dose is critical. The leaders in the field recognize this, and more cell and gene therapy companies are now realizing the benefits of the evo cold chain management system."

About BioLife Solutions

BioLife Solutions is a leading supplier of cell and gene therapy bioproduction tools. Our proprietary CryoStor® freeze media and HypoThermosol® shipping and storage media are highly valued in the regenerative medicine, biobanking and drug discovery markets. These biopreservation media products are serum-free and protein-free, fully defined, and are formulated to reduce preservation-induced cell damage and death. Our recently acquired ThawStar® family of automated cell thawing products and evo cold chain management system reduce therapeutic and economic risk for cell and gene therapy developers by reducing the potential of administering a non-viable dose. For more information please visit www.biolifesolutions.com, and follow BioLife on Twitter.

Media & Investor Relations

Roderick de Greef
Chief Financial Officer
(425) 402-1400
rdegreef@biolifesolutions.com

BioLife Solutions, Inc.

Web Site: www.biolifesolutions.com

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