Repligen Agrees to Buy BioLife Solutions in $1.5 Billion Deal

Repligen is set to purchase BioLife Solutions in a transaction valued at $1.5 billion, uniting two companies that have supplied key tools to the life sciences industry since the 1980s.

BioLife develops biopreservation products for cell and gene therapy. The Bothell, Wash.-based firm creates solutions that help biotech companies maintain living cells during storage, transport, freezing and thawing processes required for medical treatments. The publicly traded business has reportedly refocused operations around its leading biopreservation media offerings.

Waltham, Mass.-based Repligen produces instruments and materials employed in making vaccines, antibodies and additional biological therapies.

The transaction values BioLife shares at $31 each. Owners of BioLife stock will receive $11.25 in cash along with 0.1442 shares of Repligen stock per BioLife share held.

Cell and gene therapies treat disease at the molecular level. The advanced medical approaches rely on living cells or genetic material. Cell therapies aim to replace or repair damaged tissue using healthy cells, whereas gene therapies seek to add, fix or modify DNA to address the root cause of a disorder.

BioLife's CEO cited progress in repositioning the business. “Over the past several years, we have successfully repositioned BioLife around our market-leading biopreservation media franchise, while strengthening our financial profile and establishing a durable foundation for profitable growth,” said Roderick de Greef, CEO of BioLife, in a statement.

The acquisition is expected to close in the fourth quarter. It remains subject to BioLife stockholder approval and regulatory clearance.