BOTHELL, Wash. - BioLife Solutions, Inc. (NASDAQ: NASDAQ:BLFS), a provider of bioproduction tools and services, announced the launch of CryoCase, a new addition to its CellSeal product line, designed to enhance the packaging of cell and gene therapies (CGT). The CryoCase, a rigid container intended for the cryopreservation of biological materials, is set to be available to CGT developers in August.
The company revealed the CryoCase at the International Society for Cell & Gene Therapies (ISCT) event in Vancouver, Canada, where it is available for demonstrations.
This new container is designed to address the issue of particulates in drug products by offering a rigid and fracture-resistant alternative to traditional cryopreservation bags. It is compatible with manual use and closed-system automation, aiming to improve integration with existing systems and streamline bioprocessing workflows.
According to early evaluations, the CryoCase offers volume versatility and is equipped with fill and retrieval port designs that are conducive to easy integration. It is the first cryo-compatible rigid container of its kind, designed for closed-system fill and retrieval for larger volumes of fluid (
The container's transparency aligns with compliance requirements for visible inspection methods, such as USP 790 and USP 1790. It is manufactured under strict environmental and processing controls to limit common sources of particulates found in single-use disposable manufacturing.
Early user testing has indicated that the CryoCase maintains comparable cell viability and recovery for various cell types when compared to storage in existing bags. Moreover, drop testing in a frozen state has demonstrated the container's high resistance to leaks or fractures, potentially reducing or eliminating particulates inherent in cryopreservation bags.
Todd Berard, Chief Marketing Officer at BioLife, highlighted the importance of better primary containers and closed-system approaches to CGT manufacturing in reducing particulates, which he identified as a growing problem in reagent manufacturing and final drug products.
He also noted that the CryoCase is compatible with various downstream processing systems, including their Signata CT-5, and may reduce risks and costs in the creation and distribution of lifesaving therapies.
Samples of the CryoCase are now available for testing, and interested parties are encouraged to contact a BioLife Solutions representative for more information.
This announcement is based on a press release statement from BioLife Solutions, Inc.
InvestingPro Insights
As BioLife Solutions, Inc. (NASDAQ: BLFS) gears up for the release of its CryoCase, the company's stock performance and analyst expectations provide additional context for investors monitoring its progress in the bioproduction sector. The InvestingPro data shows a market capitalization of 1020M USD, indicating the size and scale of the company within the industry. Despite the challenges, BioLife Solutions has a strong return over the last three months, with a 30.95% price total return, and an even more impressive six-month price total return of 76.9%, reflecting investor optimism in the company's direction and potential growth.
However, it's worth noting that analysts are anticipating a sales decline in the current year, with revenue growth for the last twelve months as of Q1 2024 at -15.89%. This aligns with the concerns about the company's profitability, as analysts do not anticipate BioLife Solutions will be profitable this year. Yet, the company's strong return over the last month, at 23.91%, suggests that recent developments, such as the introduction of the CryoCase, may be influencing market sentiment positively.
InvestingPro Tips reveal some key insights: three analysts have revised their earnings upwards for the upcoming period, suggesting a potential shift in the company's financial trajectory. Additionally, BioLife Solutions operates with a moderate level of debt and has liquid assets that exceed short-term obligations, providing a degree of financial stability in its operations.
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