BioLife Solutions Appoints Joydeep Goswami, MBA, PhD to Board of Directors

Rhea-AI Summary

BioLife Solutions (Nasdaq: BLFS) announced the appointment of Joydeep Goswami to its board of directors, effective October 1, 2021. Goswami, who previously held senior roles at Illumina and Thermo Fisher Scientific, will replace retiring board member Andrew Hinson. The addition aims to bolster the company's strategic planning and partnerships, enhancing shareholder value. CEO Mike Rice expressed excitement about Goswami's expertise in life sciences, anticipating a positive impact on business growth.

Positive

• Bringing extensive experience in life sciences, which can enhance strategic growth.
• Expected to strengthen the company's board and improve shareholder value.

Negative

• Replacement of a long-serving board member may lead to continuity concerns.

BOTHELL, Wash., Sept. 20, 2021 /PRNewswire/ -- BioLife Solutions, Inc. (Nasdaq: BLFS) ("BioLife" or the "Company"), a leading developer and supplier of class-defining bioproduction products and services for cell and gene therapies and the broader biopharma market, today announced that Joydeep Goswami, Chief Strategy and Corporate Development Officer at Illumina, will join its board of directors on October 1, 2021. In his role, he is responsible for driving planning, strategic partnerships, and acquisitions. Mr. Goswami replaces Andrew Hinson, who has retired from the board.

Mike Rice, BioLife Chairman and CEO, commented, "We are thrilled with the addition of Joydeep to our board of directors.  He brings a wealth of relevant life sciences tools experience and domain expertise to our board. We look forward to his contributions as we continue to scale the business to create more shareholder value."

Mr. Goswami remarked, "It's my absolute pleasure to join the board of BioLife. I've known CEO Mike Rice, CFO Rod de Greef and CSO Aby J. Mathew, PhD, for fifteen years and have watched their execution in building BioLife into a premier and trusted brand and supplier of disruptive tools to the cell and gene therapy space."

Prior to Illumina, Mr. Goswami served as the President of Thermo Fisher Scientific's Clinical Next-Generation Sequencing (NGS) and Oncology business unit, where he oversaw efforts that drove the adoption of NGS in clinical oncology, research and reproductive health. Goswami has held senior leadership roles across the pharma/biotech, diagnostics and research tool continuum, previously serving at companies such as Life Technologies and Invitrogen, in addition to Thermo Fisher Scientific. He has led teams across various functions, including sales, marketing, R&D and other support functions. Mr. Goswami served as President, Asia Pacific and Japan while at Thermo Fisher Scientific and created the Stem Cells and Regenerative Medicine Business Unit at Invitrogen. Additionally, he spent five years at McKinsey, where he specialized in strategy for pharmaceutical, medical technology and technology companies.

Mr. Goswami holds his MS, PhD in Chemical Engineering, and MBA from MIT and a Bachelor's degree in Chemical Engineering from the Indian Institute of Technology.

Rice continued, "Our team members and board of directors would like to thank Andy Hinson for his many years of service to BioLife. His contributions in advising management on the cell and gene therapy space and customers' use of our products were invaluable."

About BioLife Solutions

BioLife Solutions is a leading supplier of cell and gene therapy bioproduction products and services. Our 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, Custom Biogenic Systems^® high-capacity cryogenic freezers, Stirling Ultracold ULT freezers, and SciSafe biologic materials storage. For more information, please visit www.biolifesolutions.com, www.savsu.com, www.custombiogenics.com, www.scisafe.com, www.stirlingultracold.com, www.sextonbio.com and follow BioLife on Twitter.

Contacts:

At the Company
Roderick de Greef
Chief Financial Officer
(425) 686-6002
rdegreef@biolifesolutions.com

Investors
LHA Investor Relations
Jody Cain
(310) 691-7100
jcain@lhai.com

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SOURCE BioLife Solutions, Inc.

FAQ

Who is Joydeep Goswami and what is his role at BioLife Solutions?

Joydeep Goswami joins BioLife Solutions' board of directors as a strategic advisor, bringing extensive experience in the life sciences sector.

What are the expected impacts of Joydeep Goswami's appointment on BLFS?

Goswami's appointment is anticipated to strengthen strategic planning and increase shareholder value.

Why did Andrew Hinson retire from the BioLife board?

Andrew Hinson retired after many years of service, and his contributions were acknowledged by the company.

When is Joydeep Goswami officially joining the BioLife Solutions board?

Joydeep Goswami's appointment to the BioLife Solutions board is effective October 1, 2021.