Business
BioLife Solutions Closes Acquisition of SciSafe, a High-Growth Biostorage Service Provider to the Cell and Gene Therapy Industry
Transaction Expected to Add $9 Million in Revenue in 2021 BOTHELL, Wash., Oct. 1, 2020 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS) ("BioLife" or
About this update from Biolife Solutions, Inc.
[{"type":"text","content":"Transaction Expected to Add $9 Million in Revenue in 2021\n\n\n BOTHELL, Wash., Oct. 1, 2020 /PRNewswire/ -- BioLife Solutions, Inc. (NASDAQ: BLFS) (\"BioLife\" or the \"Company\"), a leading developer and supplier of a portfolio of class-defining bioproduction tools for cell and gene therapies, today announced it has closed the acquisition of SciSafe, a privately held multi-facility provider of biological materials storage to the cell and gene therapy and pharmaceutical industries. \n\n \n \n \n \n \n \n\n \nSciSafe had 2019 unaudited revenue of $6 million and positive EBITDA and is anticipated to be accretive during 2021. Fourth quarter 2020 revenue is estimated at $1.8 million.\nAbout SciSafe\nFounded in 2010, SciSafe offers dedicated pharmaceutical and biological specimen storage in its four fully cGMP-compliant state-of-the-art sample management facilities. SciSafe has built flourishing relationships with over 300 of the world's leading and most admired organizations. Clients have repeatedly chosen to store their most valued and irreplaceable biological samples because they trust SciSafe to care for them as if they were their own. SciSafe values and respects its long-term client relationships. With over 60 years combined experience specifically in life sciences, SciSafe personnel fully appreciate the vital requirements of all areas of specimen storage and cold chain management. For more information, please visit www.scisafe.com. \nAbout BioLife Solutions\nBioLife Solutions is a leading supplier of a portfolio of class-defining cell and gene therapy bioproduction tools and services. Our tools portfolio includes our proprietary CryoStor® freeze media and HypoThermosol® shipping and storage media, ThawSTAR® family of automated, water-free thawing products, evo® cold chain management system, and Custom Biogenic Systems high capacity storage freezers. Services include SciSafe biologic and pharmaceutical materials storage. For more information, please visit www.biolifesolutions.com, and follow BioLife on Twitter. \nCautions Regarding Forward Looking Statements \nExcept for historical information contained herein, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements concerning t...