In Addition to Addressing COVID Vaccine Shipping and Storage Requirements, Reflect Scientific’s Proprietary Liquid Nitrogen-based Freezers are Continuing to Support Growing Cell and Gene Therapy Market Requirements for Ultra-Low Temperature Processing and Storage
OREM, Utah, Dec. 21, 2020 (GLOBE NEWSWIRE) — Reflect Scientific, Inc. (Symbol: RSCF), is a provider of diverse products and services for the biotechnology, pharmaceutical, and transportation industries.
Reflect Scientific continues to penetrate the Cell and Gene Therapy (CGT) market with its unique Ultra-Low temperature processing and storage products.
The CGT market is expected to reach approximately 13 billion dollars by 2024 from 3.8 billion in 2019 at a CAGR of 27.8 %. Market growth is driven by the emergence of new cell-based technologies that are being transitioned into new therapeutics supported by new diagnostic technologies to address cancer and other diseases at the cell level. North America accounts for the largest share of the CGT market. Companies currently participating in the Cell and Gene Therapy market include Gilead Sciences / Kite, Bristol-Myers Squibb / Juno, Novartis AG, GSK, Pfizer, Johnson & Johnson and Bluebird Bio. It is interesting to note that more than 900 clinical trials are currently underway supporting new compound development for the CGT market.
Reliable temperature management of related products is critically important and generally ranges from a level of -20C to -150C. Meeting these requirements using an upright ultra-low temperature freezer presents a very difficult challenge for mechanical based systems.
Our commercially proven Cryometrix T-90 and T-150 systems address these concerns by providing a market-based solution. These systems are designed to provide flexible temperature set point control, operational reliability and predictability across a range of temperature set points down to as low as -150C. Blast freezing can also be an important manufacturing process step, which involves the rapid cooling of process fluids. Our Cryometrix B-90 has already shown significant advantages over mechanical system limitations due to its greater thermodynamic efficiency, which has resulted in major reductions and predictability of processing times. Cryometrix technologies address perceived constraints in the CGT market and turn them into Manageable Limitations.
About Reflect Scientific, Inc.
Reflect Scientific, Inc., based in Orem, Utah, develops and markets innovative, proprietary technologies in cryogenic cooling for the biotechnology, pharmaceutical, medical, and transportation markets. Among Reflect Scientific’s products are low-temperature freezers and refrigerated systems for laboratory, transportation, and computer server room uses. Visit www.reflectscientific.com for more information. See us on Twitter @ReflectSci and LinkedIn www.linkedin.com/company/reflect-scientific.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of the disclosures contained in the filings of the Company that are contained in the OTC Markets Group, LLC under the trading symbol “RSCF” and related prior filings by the Company that are referenced therein and contained in the EDGAR Archives of the Securities and Exchange Commission under the heading “Disclosure,” including those identified in such filings as “forward-looking statements.”
Contact
Thomas Tait
801-607-1039
investor_relations@reflectscientific.com
