BioLife Solutions acquires PanTHERA CryoSolutions in cash and stock deal

BioLife Solutions (BLFS) announced the acquisition of privately-held PanTHERA CryoSolutions, a developer of novel cryopreservation solutions based on proprietary Ice Recrystallization Inhibitor 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. BioLife is purchasing the 90% of PanTHERA common shares it does not own for $9.3M in cash and 241,355 shares of BioLife Common stock. PanTHERA’s shareholders are also eligible to receive up to an additional $7.2M of BioLife common stock over the next three years contingent on the achievement of certain scientific and revenue milestones.