BioLife Solutions Acquires 90% Of PanTHERA CryoSolutions Common Shares It Does Not Down For $9.3M In Cash And 241,355 Shares Of BioLife Stock

-1.57%

BioLife Solutions, Inc.

BLFS

21.91

-1.57%

Strategic acquisition enhances biopreservation media portfolio with novel Ice Recrystallization Inhibitor technology

Marks the second acquisition from Bioproduction Innovation Accelerator program

BOTHELL, Wash., April 7, 2025 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS) ("BioLife" or the "Company"), a leading developer and supplier of bioproduction products and services for the cell and gene therapy ("CGT") market, today announced the acquisition of privately-held PanTHERA CryoSolutions, Inc., ("PanTHERA"), a developer of novel cryopreservation solutions based on proprietary Ice Recrystallization Inhibitor ("IRI") technology. The acquisition further strengthens BioLife's position as the market leader in biopreservation, enhancing its product portfolio of consumable solutions and adds scientific capabilities to the management team.

Transaction Terms

BioLife is purchasing the 90% of PanTHERA common shares it does not own for $9.3 million in cash and 241,355 shares of BioLife Common stock. PanTHERA's shareholders are also eligible to receive up to an additional $7.2 million of BioLife common stock over the next three years contingent on the achievement of certain scientific and revenue milestones.

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