BioLife Solutions Acquires PanTHERA CryoSolutions To Enhance Biopreservation For CGT

(RTTNews) - BioLife Solutions, Inc. (BLFS), a US-based provider of bioproduction products and services for the cell and gene therapy - CGT market, announced the acquisition of PanTHERA CryoSolutions, Inc., a company specializing in innovative cryopreservation solutions based on proprietary Ice Recrystallization Inhibitor - IRI technology.

This acquisition strengthens BioLife's position in the biopreservation market by expanding its product portfolio and enhancing its scientific capabilities.

PanTHERA has developed and launched its first-generation IRI technology and is working on next-generation molecules designed to complement BioLife's cryopreservation products. These formulations are expected to launch within 18 months and offer potential improvements, such as superior cryopreservation for certain biological constructs, lower DMSO concentrations, and reduced reliance on liquid nitrogen in cold chain logistics and long-term storage. BioLife had previously invested in PanTHERA in 2020 through its Bioproduction Innovation Accelerator.

This acquisition is also a success story for BioLife's Bioproduction Innovation Accelerator, which was launched in 2019 in partnership with Casdin Capital to support early-stage disruptive technologies in bioproduction. PanTHERA is the second company from this initiative to be acquired by BioLife.

Transaction terms include BioLife purchasing the remaining 90% of PanTHERA shares for $9.3 million in cash and 241,355 shares of BioLife common stock, with potential additional shares based on the achievement of certain milestones.

BLFS is currently trading at $20.97 or 0.44% higher on the Nasdaq Capital Market.