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 licensed specific areas of its intellectual property to Janssen Research & Development, LLC (Janssen).
Mike Rice , Chief Executive Officer, said, "Our team has worked closely with Janssen for several years. CryoStor has shown remarkable ability to maintain viability and function of numerous cell types following cryopreservation, a process that involves freezing cells to suspend metabolic activity to enable short and long term storage. This is a critical component in optimizing the biopreservation economics of emerging regenerative medicine therapies where efficient, scalable, and consistent product delivery to a worldwide clinical patient population will strongly dictate commercial success if regulatory approvals are obtained."
The regenerative medicine market is expected to grow to more than $35 billion by 2019, according to TriMark Publications' newly published "Regenerative Medicine Markets" report. BioLife's addressable portion of the market is the demand for reagents used to store, ship and freeze source material and manufactured doses of cell-based products and therapies.
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