BioLife Solutions, Inc. today announced preliminary full year 2015 revenue of $6.4 million, including a 30 percent increase in core biopreservation media revenue over the prior year.
Key operational highlights for Q4 2015 include:
- Preliminary Q4 2015 biopreservation media revenue was $1.82 million, representing 12 percent sequential growth compared to Q3 2015, and 25 percent growth over the prior year period.
- The company’s proprietary clinical grade biopreservation media products CryoStor® and HypoThermosol® are now incorporated into more than 200 customer clinical validations and trials of novel cell and tissue-based products and therapies, including a majority of the ongoing clinical trials of various T cell candidates such as dendritic cells, chimeric antigen receptor (CAR) T-cells, TCR, and TIL sponsored by commercial companies.
- The first substantial order for BloodStor® 27 NaCl, a cGMP freeze media formulated for cryopreservation of therapeutic platelets, was shipped to The Netherlands Ministry of Defense in late Q4.
- An additional patent application was filed with claims related to novel features for next generations of the evo™ Smart Shipper and future releases of the biologistex™ cloud based cold chain management app.
- STEMCELL Technologies, a strategic distributor, will test the evo Smart Shipper and biologistex cold chain management app, for use in shipping human cells for customer research on blood derived cellular therapies.
Mike Rice, BioLife’s President & CEO, said, “In 2015, revenue from our CryoStor and HypoThermosol biopreservation media products continued to grow at an impressive rate as we gained new customers and saw increased use of our products as customers progressed through later phases of regenerative medicine clinical trials. As a result, we finished the year at the high end of our expectations. We anticipate sustained biopreservation media revenue growth in 2016, based on higher demand from new and existing customers developing and commercializing new cell-based therapies. We also anticipate biologistex revenue in 2016 from SaaS subscribers who value improved cold chain logistics of time and temperature sensitive biologic materials. Given the strategic investments we made during this past year in people, patents, software development, and new products to drive continued growth, we are confident of sustained growth in 2016.”
2016 Outlook & Goals
- Total revenue to exceed $10 million, inclusive of biologistex SaaS revenue and 20-30% growth in biopreservation media revenue.
- Planned Q4 launch of Storganix™ organ preservation solution.