BioLife Solutions, Inc. (NASDAQ: BLFS), a leading developer and supplier of a portfolio of best in class bioproduction tools for cell and gene therapies, today announced that SAVSU Technologies, a leading developer of advanced cold chain management tools for cell and gene therapies, and soon to be acquired by BioLife, has completed a significant expansion of its intellectual property portfolio related to protecting high value cell and gene therapies during storage and distribution.
Key attributes of new innovations by SAVSU, that are the subject of several in-process patent applications include:
An integrated system of shock absorption technologies designed to better protect fragile cell and gene therapies from in-transit damage, which can render the biologic dose useless.
Enhanced insulation and fabrication methods designed to provide dynamic thermal performance well in excess of current alternative liquid nitrogen dry vapor shippers
Predictive analytics in the evo.is cloud application designed to offer specialty couriers and other evo users with advanced notifications about the performance of the shipping containers and a dynamically updated estimation of how long the container will maintain the biologic payload at the required temperature.
Mike Rice, BioLife CEO, remarked, “The engineering team at SAVSU continues to innovate to offer best in class precision shipping containers and a state-of-the-art cloud application, both of which are being increasingly recognized and adopted by leading cell and gene therapy companies. In today’s evolving “pay on cure” reimbursement environment, with payment predicated on a sustained patient response to the therapy, cell and gene therapy developers must do everything possible to mitigate the risk of delivering a non-viable dose. Competitive offerings allow for potential catastrophe, leading to therapeutic failure and economic loss. The evo cold chain management system provides an integrated solution to mitigate risks in the distribution chain.”
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BioLife previously announced that it had exercised its option to acquire the remaining 56% of the outstanding shares of privately held SAVSU that it currently does not own in exchange for 1.1 million shares of BioLife common stock. The acquisition will be pursuant to a share purchase agreement and is expected to close within 30 days.
Date: August 5, 2019
Source: Biospace
