It is gratifying every time we are granted a patent on our technology. We have filed a lot of them and more are coming in 2018 (yeah we are working on some really cool new stuff).
Looking at our growing portfolio of patents, reminds me of how far we have come on this journey of building the evo Cold Chain 2.0 System. It also reminds me that we do not pursue new technology in this field just for the thrill of accumulating IP. We pursue new technology because we have a vision and the old cold chain technology has hit a dead end. With the old tech it was a case of "you can't get there from here...no matter how hard you try". A radically different approach was required to solve the problem of safely transporting the new cell and gene therapies that are now emerging. Our vision was for a technically sophisticated system that was easy to use and could scale effortlessly to commercial levels. Turns out that when we started to build that system, we quickly realized that we were on our own and we would, in the ensuing years, end up inventing a whole lot of new parts. That is where the IP comes from...inventing as we go to realize our vision.
SAVSU Technologies and BioLife Solutions Increase evo® Intellectual Property Estate with Notice of Allowance of New Patent for Cold Chain Technologies
13 Additional Pending Patent Applications Submitted for evo Smart Shippers, Liquid Nitrogen Dry Vapor Shippers (DVS) and Cold Chain SaaS Application
06:30 ET from BioLife Solutions, Inc.
BOTHELL, Wash. and ALBUQUERQUE, N.M., Jan. 18, 2018 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS), the leading developer, manufacturer and marketer of proprietary clinical grade cell and tissue hypothermic storage and cryopreservation freeze media and SAVSU Technologies, the leading developer of smart, precision biologic shipping containers and cloud-based cold chain management SaaS solutions, today announced that the USPTO has issued a notice of allowance of a patent application titled "Biologic Stability, Delivery Logistics and Administration of Time and/or Temperature Sensitive Biologic Based Materials". The inventors are Bruce McCormick, President of SAVSU Technologies, and Mike Rice, CEO of BioLife Solutions.
Since the formation of the BioLife Solutions – SAVSU Technologies biologistex™ joint venture in the fourth quarter of 2014, the companies have submitted 13 other patent applications related to novel innovations incorporated into current, or to be incorporated into future, precision thermal shipping containers under the evo brand. This includes models that precisely maintain biologic payload temperature stability across the entire shipping continuum; including -196°C liquid nitrogen dry vapor shippers, -80°C dry ice shippers, and 2° - 8°C and controlled room temperature (CRT) shippers using conditioned phase change insulating materials. These patent applications also include claims related to the evo.is Cold Chain Software as a Service (SaaS) live cell visibility platform.
Bruce McCormick commented, "We are pleased to receive this notice of allowance of what we believe will be a series of granted patent applications we filed to protect our growing intellectual property estate. We believe our hardware and software innovations, embodied in current and future evo models, will offer significant value to the growing regenerative and personalized medicine markets."
Mike Rice, BioLife CEO, remarked, "This notice of allowance is another validation of the vision SAVSU and BioLife formed several years ago, with a focused and intentional goal to improve cold chain logistics of cell and gene therapies. We believe the advanced and innovative evo hardware and software technologies will have tremendous impact on the preservation, delivery, and quality management of these precious, time and temperature sensitive biologic medicines."
SAVSU is a leading designer and manufacturer of innovative high-performance cloud-connected passive storage and transport containers for temperature sensitive biologics and pharmaceuticals. Our mission is to improve global health by greatly reducing the waste and risks associated with the improper freezing and overheating of thermal-sensitive medicines and biologics. SAVSU has developed proprietary state-of-the-art technology to ultimately lower costs and improve delivery of these most essential materials. For more information please visit www.savsu.com.
About BioLife Solutions
BioLife Solutions is the leading developer, manufacturer and supplier of proprietary clinical grade cell and tissue hypothermic storage and cryopreservation freeze media for cells and tissues. Our proprietary HypoThermosol® and CryoStor® platform of biopreservation media products are highly valued in the regenerative medicine, biobanking and drug discovery markets. These are serum-free, protein-free, fully defined, and formulated to reduce preservation-induced cell damage and death. Our enabling, embeddable technologies provides commercial companies and clinical researchers significant improvement in shelf life and post-preservation viability and function of cells, tissues, and organs.
Cautions Regarding Forward Looking Statements
Except for historical information contained herein, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements concerning the company's anticipated business and operations, the potential utility of and market for its products and services, potential revenue growth and market expansion, commercial manufacturing of our customers' products, and projected financial results. 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.
BioLife Solutions, Inc.
Media & Investor Relations
Media & Investor Relations
Roderick de Greef
Chief Financial Officer
Chief Executive Officer
SOURCE BioLife Solutions, Inc.