BioLife Solutions Inc (BLFS)

[techisbest]

It looks like last year's investment in SAVSU Technologies is starting to pay off.

BioLife Solutions, Inc. (NASDAQ: BLFS) ("BioLife" or the "Company"), the leading developer, manufacturer and marketer of proprietary biopreservation media and automated cell thawing devices for cell and gene therapies, today announced that SAVSU Technologies, Inc. ("SAVSU") has been selected by Novartis to supply advanced cold chain management technologies for ZOLGENSMA(R) (onasemnogene abeparvovec-xioi), a one-time-only gene therapy for the treatment of children less than two years old with spinal muscular atrophy ("SMA"). ZOLGENSMA was approved by the FDA on May 24, 2019. AveXis, developer of ZOLGENSMA and acquired by Novartis in April 2018 for $8.7 billion, qualified and adopted the SAVSU evo(R) system to enhance in-transit visibility and improve delivery quality of ZOLGENSMA. BioLife currently owns 44% of SAVSU and has an exclusive option to purchase all remaining shares.

Mike Rice, BioLife CEO, remarked, "The approval of ZOLGENSMA brings lifesaving hope to families of children with SMA. We congratulate Novartis for gaining FDA approval, and the SAVSU team for working tirelessly to support Novartis' extensive qualification and validation of the evo Smart Shipper and evo.is cold chain cloud app. We look forward to additional announcements this year related to new SAVSU customers and the broader adoption of SAVSU's proprietary evo cold chain management system."


https://finance.yahoo.com/news/biolife-solutions-announces-savsu-technologies-120000993.html