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CryoXtract Enters Into Distribution Agreements with Cambridge Bioscience Ltd. in the U.K. and LBD Life Sciences Ltd. in China, Bolstering Its Industry Position as a Provider of Automated Frozen Aliquotting Systems for High-Value Biosamples

CryoXtract Instruments LLC, a provider of automated frozen aliquotting systems for high-value frozen biosamples (e.g., biofluids, tissue and stool), has expanded its global distribution footprint by signing two new full-service distributors, Cambridge Bioscience Ltd. in the U.K. and LBD Life Sciences Ltd. in China.

The agreement with Cambridge Bioscience bolsters CryoXtract’s presence in Europe, the largest biorepository market in the world, with substantial growth across numerous countries including the Netherlands, Italy, Germany and the U.K. The U.K. is home to centers of international research, including the UK Biobank, which was formed in 2006 to establish a national database in support of the prevention, diagnosis and treatment of serious illnesses. In addition to representing companies that advance biological research, Cambridge Bioscience is currently helping to develop two new entrepreneurial ventures: a new human tissue banking initiative in conjunction with the National Health Service (NHS) and a new stem cell venture.

With offices in Beijing and Shanghai, LBD Life Sciences provides laboratory equipment for China’s academic research institutions, as well as leaders in the biotechnology and pharmaceutical industries. The company currently offers an array of biobanking products for storage, analysis and sample tracking that are complementary to CryoXtract’s frozen aliquotting systems. CryoXtract’s agreement with LBD Life Sciences establishes the company’s first presence in China and further solidifies its network in Asia, one of the fastest-growing life sciences markets in the world.

“At CryoXtract, our global objective is to select the best full-service distributors in each of the major, high-growth countries that actively support broad scientific development,” said John McCarthy, Chief Executive Officer of CryoXtract. “In joining our international network of partners, Cambridge Bioscience and LBD Life Sciences are helping us fulfill our mission of providing unique solutions to the scientific community that serve to improve laboratory workflows and optimize the integrity of the biospecimens being used for R&D.”

In the past year, CryoXtract has partnered with three additional industry players in support of its global commercialization plans for its CXT750 and CXT350 frozen aliquotting systems. In October last year, the Woburn, Massachusetts-based company established a global co-marketing agreement with Wheaton Industries Inc. that allows the companies to offer a single system for optimally storing, preserving and accessing valuable frozen tissue samples. Additionally, in the same month last year, CryoXtract entered into a full-service distribution agreement for the Australia and New Zealand markets with Bio-Strategy Ltd., and in January 2013 the company established a similar agreement with GC biotech B.V. to distribute its products in the Benelux countries and Germany.

CryoXtract offers two product solutions that allow the scientific community to eliminate the deleterious effects of freeze-thaw cycles on their biospecimens. The fully automated CXT750 system offers a hands-free operation, including sample tube management, sample coring, frozen aliquot dispensing and reusable coring probe cleaning. Parent samples and frozen aliquots are maintained at -80˚C throughout the process. The company’s benchtop CXT350 system utilizes LN2 to chill samples, and coring probes and destination tubes to ensure a frozen state throughout specimen processing.

CryoXtract is a subsidiary of Boston-based Allied Minds. More information can be found at www.cryoxtract.com.

About CryoXtract Instruments, LLC

CryoXtract develops and commercializes automation solutions that allow for the retrieval of multiple frozen samples from a single frozen biospecimen without exposing the source to the deleterious biological impact from freeze/thaw cycling. The company’s automation technology system improves frozen biosample processing, protects the viability of frozen biosamples after cores have been extracted, improves lab efficiencies and economics, and helps optimize scientific outcomes. CryoXtract is a subsidiary of Boston-based Allied Minds, Inc. For more information, please visit www.cryoxtract.com.

About Allied Minds Inc.

Allied Minds is a dedicated innovation and technology company that deploys capital to form, fund, manage and build products and businesses based on innovative technologies developed at leading US universities and federal research institutions. For more information, visit www.alliedminds.com.

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