BioLife Solutions, Inc., (BioLife), a leading developer, manufacturer and marketer of proprietary clinical grade hypothermic storage and cryopreservation freeze media and precision thermal shipping products for cells and tissues, announced that NeoStem, Inc's wholly owned subsidiary, Progenitor Cell Therapy, LLC (PCT), has started using the BioLife's HypoThermosol storage/shipping media and CryoStor cryopreservation freeze media.
PCT is an internationally recognized contract development and manufacturing organization (CDMO) focused on providing exceptional service, quality and value to its regenerative medicine clients, which include an expanding range of development stage organizations, Fortune 500 biotechnology, pharmaceutical and medical product companies, as well as leading academic research institutions. PCT operates two state-of-the-art, accredited and certified US facilities, one in Allendale, New Jersey and the other in Mountain View, California.
Robert A. Preti, PhD, president & chief scientific officer at PCT, commented on the use of BioLife products by stating, "Two critical commercialization challenges for novel cell and tissue-based products stem from limited shelf life and poor quality following preservation. Over the last several years we have evaluated many custom formulations and commercial preservation media products for storage, shipping, freezing, and administering cell-based biologics in clinical applications. The biopreservation efficacy of BioLife's clinical grade HypoThermosol and CryoStor is very impressive. There is a high degree of awareness of these products in the field and we use BioLife products in several of our current cell therapy development projects, including some of NeoStem's clinical product candidates along with many programmes for mutual customers of BioLife and PCT."
A 2013 visiongain Translational Regenerative Medicine market research report forecasts that the regenerative medicine market comprised of cell and gene therapies and tissue-engineered products will grow to more than $23 billion by 2024. BioLife estimates that the Company's biopreservation media products are now incorporated into the collection, storage, shipping, freezing, and/or patient administration processes of at least 130 customer clinical trials or novel cell-based regenerative medicine products and therapies.
Mike Rice, BioLife president & CEO, stated, "The use of HypoThermosol and CryoStor at PCT is further validation of the value our proprietary biopreservation media products provide to the high growth regenerative medicine market. PCT is a very high quality contract development and manufacturing services provider and we recognize the scrutiny with which they evaluated our products, leading to adoption and use in multiple projects, both internal and for mutual customers. We look forward to continuing and strengthening our relationship with PCT."
Progenitor Cell Therapy (PCT) is a leading contract development and manufacturing organization in the cellular therapy industry.
NeoStem is a leader in the emerging cellular therapy industry, pursuing the preservation and enhancement of human health globally through the development of cell based therapeutics that prevent, treat or cure disease by repairing and replacing damaged or aged tissue, cells and organs and restoring their normal function.