CryoXtract™ Instruments Enters Exclusive Distribution Agreement For Benelux Countries and Germany With GC biotech B.V.

WOBURN, Mass.--(BUSINESS WIRE)--CryoXtract Instruments, LLC, a leader in developing unique automation solutions for preserving and optimizing frozen biological samples, announced that it has entered into an exclusive distribution agreement with GC biotech B.V. to distribute its products in the Benelux countries and Germany.

“At GC biotech, we’re always in search of unique, high-value technology solutions that we feel confident will address important and rapidly evolving needs within the European life sciences community”

GC biotech is a leading value-added distributor of sophisticated life science technologies. Headquartered in The Netherlands, GC biotech represents some of the most advanced US and European suppliers of specialized life science products that simplify, accelerate and improve life sciences research.

The agreement marks CryoXtract’s first international partnership since naming John McCarthy last month as the company’s new CEO to lead its commercial growth initiatives. CryoXtract is expanding distribution of its award-winning, fully automated technology platform which enables aliquotting of high-value biosamples while preserving the -80C environment and therefore the integrity of the parent sample. The Benelux countries and Germany represent many of the most important and progressive European markets for human genetics research and development and therefore sophisticated biobanking requirements.

“We are excited to announce this partnership with GC biotech as we believe it provides CryoXtract with a broad and experienced foundation of marketing, engineering support and logistics services throughout this important European market,” said John A. McCarthy, Jr., CryoXtract’s Chief Executive Officer. “GC biotech represents the first of what we expect will be a network of strong international partners that can help accelerate introduction and adoption of our high-value products among the industry’s thought leaders.”

Biosamples are critical to the advancement of molecular medicine, biomarker discovery/validation and other important R&D initiatives. Today, access to frozen biosamples is typically achieved by thawing the entire stored primary sample, aliquotting the amount needed for scientific purposes, and then refreezing the primary sample. By eliminating this repeated exposure to freeze/thaw cycles, CryoXtract’s technology allows efficient access to these highly valuable frozen biosamples for important research and discovery, while preserving the integrity of the original parent sample for future use, and streamlining sample processing and lab efficiency through automation.

“At GC biotech, we’re always in search of unique, high-value technology solutions that we feel confident will address important and rapidly evolving needs within the European life sciences community,” stated Glenn Nohar, Founder and CEO of GC biotech. “CryoXtract’s technology platform uniquely addresses one of the most important areas within life sciences R&D, that being the ability to continuously access highly valuable frozen biosamples for critical R&D work while preserving the integrity of the parent samples. GC biotech is very pleased to be partnering with CryoXtract, as the two companies represent great complements.”

“CryoXtract is now positioned to provide the scientific community in Europe with a unique set of solutions to support major R&D initiatives,” stated Dr. Omar Amirana, Managing Director and Head of Life Sciences at Allied Minds. “CryoXtract represents one of the most important commercial-stage companies in the Allied Minds portfolio, and I’m confident that this partnership will deliver important value to the scientific community throughout this important European market.”

About CryoXtract Instruments, LLC

CryoXtract develops and commercializes unique automation solutions that allow for the retrieval of multiple frozen samples from a single frozen biosample without exposing the source sample to the deleterious biological impact from freeze/thaw cycling. The Company’s novel automation technology platform improves frozen biosample processing, protects the viability of frozen biosamples after cores have been extracted, improves lab efficiencies and economics, and results in better scientific outcomes. In May 2012, the International Society for Biological and Environmental Biorepositories (ISBER) awarded its prestigious Outstanding New Product Award to the Company’s CXT 750 Frozen Sample Aliquotter.

CryoXtract is a subsidiary of Allied Minds, Inc., a Boston-based private investment corporation. For more information, please visit www.cryoxtract.com.

About GC biotech B.V.

Headquartered in Alphen aan den Rijn, The Netherlands, GC biotech distributes a wide range of specialized life-science products (instruments, software, kits & reagents) that simplify, accelerate and improve life-sciences research. GC biotech represents some of the most advanced US and European suppliers of highly innovative life-science research instrumentation, associated reagents and consumables. GC biotech also develops and manufactures several unique technology solutions for automated processes in life-science research. GC biotech operates in the Benelux countries, Germany and, more recently, in France and Denmark.

About Allied Minds, Inc.

Allied Minds is a U.S. investment firm that deploys private equity to form, fund, manage and build start-ups based on early-stage technologies developed at renowned U.S. universities and federal research institutions. Allied Minds serves as a diversified holding company that supports its businesses with capital, management and shared services, and is the premier investment firm to utilize this novel and fully integrated approach for technology commercialization. More information about the Boston-based company can be found at www.alliedminds.com.