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BOTHELL, Wash., Nov. 17, 2021 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS), a leading supplier of class-defining bioproduction tools and services for the cell and gene therapies ("CGT") and broader biopharma markets, today announced it has ranked 353 in the 27th annual Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. BioLife Solutions annual revenue grew 336% from 2017 to 2020, driven by organic growth and several acquisitions that were completed to broaden its bioproduction product and services portfolio.
New market research suggests that the global cell and gene therapy clinical trials market size is forecasted to reach $45.4 billion by 2028, signifying the growth of therapeutic innovation in this class of drugs. As a result, the industry is experiencing a growing need for reliable solutions to de-risk and scale manufacturing, storage and distribution of high value biological material and the safe delivery of these therapies to patients.
Mike Rice, BioLife's Chairman and CEO, commented, "We are committed to serving our cell and gene therapy and biopharma customers as broadly as possible, by offering a growing portfolio of class-defining bioproduction products and services that can help accelerate and de-risk development and commercialization."
The key criteria to meet the 2021 Technology Fast 500™ companies list is revenue growth. For 2021, the companies that made the list had revenue growth ranging from 212% to 87,037% from 2017 to 2020, with median growth of 521%.
BioLife Solutions previously ranked on the Technology Fast 500™ list for 2020 and was also named one of the 100 Best Companies to work for in Washington State in 2013, 2015 and 2020. Earlier this week, BioLife announced that it had also been named to Inc. Magazine's Inaugural List of Best-Led Companies.
About the 2021 Deloitte Technology Fast 500™
Now in its 27th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2017 to 2020.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About BioLife Solutions
BioLife Solutions is a leading supplier of class-defining cell and gene therapy bioproduction tools and services. Our tools portfolio includes our proprietary CryoStor® and HypoThermoso® biopreservation media for shipping and storage, the ThawSTAR® family of automated, water-free thawing products, evo® cold chain management system, high capacity cryogenic storage freezers, Stirling Ultracold mechanical freezers, SciSafe biologic storage services, and Sexton Biotechnologies cell processing tools. For more information, please visit www.biolifesolutions.com, www.scisafe.com, www.stirlingultracold.com, or www.sextonbio.com and follow BioLife on Twitter.
At the Company
Chief Financial Officer
LHA Investor Relations
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SOURCE BioLife Solutions, Inc.