Financial Advisor
BioLife Solutions, Inc.
M&A Advisory
Has Divested
To
Transaction Details
On November 12, 2024, BioLife Solutions, Inc. (NASDAQ: BLFS) ("BioLife“ or the “Company”) announced the sale of its wholly owned biostorage subsidiary SciSafe Holdings, Inc. ("SciSafe") for $73 million in cash to 1315 Capital. The establishment of SciSafe as a standalone business enables it to focus on the expansion of its customized and comprehensive biostorage solutions.
"There is growing demand from research institutions and biopharma companies for advanced, compliant storage solutions for their biospecimens and product supply chain,” said Matt Reber, Partner at 1315 Capital. "SciSafe’s commitment to meeting critical industry needs through flexible and tailored services makes it a vital partner to its customers.”
About the company
BioLife Solutions, Inc.
BioLife Solutions is a leading supplier of cell processing tools and services for the cell and gene therapy (CGT) market. Its expertise facilitates the commercialization of new therapies by supplying solutions that maintain the health and function of biologic materials during their collection, development, storage and distribution.
SciSafe
SciSafe is a cGMP-compliant provider of specialized storage and cold chain management solutions for biopharmaceutical and pharmaceutical companies. With secure, real-time monitored facilities offering a range of temperature-controlled storage options, SciSafe focuses on regulatory compliance and exceptional customer service to ensure secure and reliable sample and supply chain storage.
1315 Capital
1315 Capital is a private investment firm with over $1 billion of assets under management that provides growth capital to commercial-stage healthcare services, pharmaceutical & medical technology outsourcing, medical technology, and health & wellness companies. 1315 Capital targets both minority and majority investments in companies where high-quality management teams can rapidly scale platform companies into large and important businesses that positively impact patients, physicians, and the broader healthcare system.
Source: Company Press Release
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