BioLife Solutions Announces HypoThermosol Supply And License Agreement With Bioheart Inc.

Storage and Preservation Media Critical for Manufacturing Cellular Therapy Products

Bothell, WA - BioLife Solutions Inc., a developer and marketer of proprietary hypothermic storage and cryopreservation media products for cells, tissues, and organs today announced a supply and license agreement with Bioheart Inc., a Sunrise, Florida, cell therapy company commercializing novel biologic based treatments for cardiac disease.

The 10-year agreement includes volume based pricing and an intellectual property escrow provision which grants Bioheart access under certain conditions to BioLife's HypoThermosol storage and preservation media when used in the production and therapeutic delivery of Bioheart's MyoCell, a cell-based therapy for heart failure. The agreement includes committed purchase amounts and annual license fees payable to BioLife.

BioLife Chief Executive Mike Rice stated: "We're very pleased to support Bioheart in their efforts to provide a novel treatment for heart failure. Adoption of our patented HypoThermosol is growing, as more cell therapy companies and clinical researchers are realizing the unique benefits our products provide for transporting, storing, and preserving biologic source material from donor site to processing facility, and for finished cell therapy products from processing facility to patient location."

According to an August 2006 research report published by Jain PharmaBiotech, the total value of cell-based markets was $27 billion in 2005 and is expected to grow to $96 billion in 2015, as more than 300 companies are engaged in developing cell-based alternatives to medical devices and drugs to treat and possibly cure numerous acute and chronic diseases.

SOURCE: BioLife Solutions Inc.