Slide 1: Material Weaknesses and 2024 Remediation Plan
biolifesolutions.com P R O V E N B I O P R O D U C T I O N E X P E R T I S E Material Weaknesses and 2024 Remediation Plan Exhibit 99.1
Slide 2: Agenda
Agenda CONFIDENTIAL ©2024 BIOLIFE SOLUTIONS. ALL RIGHTS RESERVED. 2 Background FY23 Material Weaknesses • General control environment • IT change management and Segregation of Duties • Procure to pay and Revenue controls Remediation Strategy FY24 SOX Program FY23 BOD Attendanc
Slide 3: Background
Background CONFIDENTIAL ©2024 BIOLIFE SOLUTIONS. ALL RIGHTS RESERVED. 3 BioLife strives to be a leading supplier of class-defining bioproduction tools and services for the cell and gene therapies and broader biopharma markets. From 2019 – 2021, BioLife acquired six private companies. BioL
Slide 4: Progress
FY23 Progress CONFIDENTIAL ©2024 BIOLIFE SOLUTIONS. ALL RIGHTS RESERVED. 4 •Ensured system administrator access is restricted to appropriate individuals. •Made a significant investment in hiring additional resources •Redesigned controls in all financial reporting processes and
Slide 5: Material Weaknesses and Remediation Plan
FY23 Material Weaknesses and Remediation Plan CONFIDENTIAL ©2024 BIOLIFE SOLUTIONS. ALL RIGHTS RESERVED. 5 Root Causes 2024 Remediation Plan Manual controls due to lack of ERP and system integration -Created internal business systems development team (4 FTEs) in Q4 2023 -Replaced outsourced ERP
Slide 6: FY24 SOX Program Structure
FY24 SOX Program Structure CONFIDENTIAL ©2024 BIOLIFE SOLUTIONS. ALL RIGHTS RESERVED. 6 Core SOX Activities Foundational activities that occur annually, such as risk assessment, scoping, training, certification…etc. SOX Control Activities Business process and IT controls guidance on desig
Slide 7: BOD Attendance – Joydeep Goswami
FY23 BOD Attendance – Joydeep Goswami CONFIDENTIAL ©2024 BIOLIFE SOLUTIONS. ALL RIGHTS RESERVED. 7 • Joydeep Goswami attended slightly less than 75% of meetings in 2023 due in part to overlapping commitments as CFO of Illumina which was facing shareholder activism issues in 2023 
Slide 8: Questions?
biolifesolutions.com P R O V E N B I O P R O D U C T I O N E X P E R T I S E Questions? Exhibit 99.1