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The following segment was excerpted from this fund letter.
BioLife Solutions (NASDAQ:BLFS)
BioLife Solutions is a recent addition to the strategy and highlights how cooperation between the public and private sector can yield positive results.
In its earlier stages in the 2000s, BioLife received grants from the National Institute of Health and the National Science Foundation valued at $1.38 million. These grants helped the company conduct research on its HypoThermosol technology for hypothermic preservation of cells. The company performed research on optimising preservation media and examining cellular apoptosis. More recently, the company has been granted patents for cryopreservation technology and gene therapy bioproduction, which focus on storage and transportation of biologic material for cell and gene therapies.
Biolife Solutions manufactures bioproduction tools and services to the cell and gene therapy (“CGT”) industry and broader biopharma market, used in basic and applied research and commercial manufacturing of biologic-based therapies. Customers use its products to maintain the health and function of biologic material during several steps of bioproduction process such as sourcing, manufacturing, storage, and distribution.
The company has a strong IP portfolio of 153 patents covering 52 patents in cell processing, 90 in freezers and thaw systems and 11 in storage and cold chain services. For example, its proprietary biopreservation media products, HypoThermosol® FRS and CryoStor®, are formulated to mitigate preservation-induced, delayed-onset cell damage and death, which result when cells and tissues are subjected to reduced temperatures.
Biolife’s technology can provide CGT customers with significant shelf-life extension of biologic source material and final cell products and can also greatly improve post-preservation cell and tissue viability and function.
The company is executing on its strategy to increase its share of “per dose spend” per customer via acquiring synergistic products and technologies. Biolife has completed nine acquisitions since 2018 for total of $430M.
The company is also benefitting from strong organic growth driven by strong innovation pipeline in cell and gene therapies. The CGT market has been rapidly expanding, treating diseases once thought incurable. According to the Alliance for Regenerative Medicine (“ARM”), there were over $23.1 billion in total global financings in the regenerative market raised in 2021. The FDA predicts somewhere between 10 to 20 cell and gene therapies per year will be approved by 2025.
Editor’s Note: The summary bullets for this article were chosen by Seeking Alpha editors.
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