BioLife Solutions Closes Acquisition of Sexton Biotechnologies

Rhea-AI Summary

BioLife Solutions (Nasdaq: BLFS) announced the closing of its acquisition of Sexton Biotechnologies on September 1, 2021. This acquisition enhances BioLife’s portfolio with proprietary bioproduction tools, such as closed vials for cell therapy packaging and human platelet lysate media, integral to over 50 ongoing clinical trials. CEO Mike Rice emphasized the strategic significance of this acquisition for expanding revenue and capabilities in the cell and gene therapy market, marking it as BioLife's sixth acquisition in just over two years.

Positive

• Acquisition of Sexton Biotechnologies expands product offerings with proprietary bioproduction tools.
• Sexton's products are embedded in over 50 ongoing clinical trials, potentially increasing BioLife's market reach.
• This acquisition supports BioLife's strategy of building a strong portfolio in the cell and gene therapy market.

Negative

• Integration challenges may arise from the acquisition of Sexton.
• Potential dilution of resources if integration doesn't yield expected synergies.

BOTHELL, Wash., Sept. 1, 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 it has closed its acquisition of Sexton Biotechnologies.

Sexton's bioproduction tools portfolio includes proprietary closed vials for cell therapy final dose packaging, human platelet lysate (HPL) media, a bio-defined replacement for fetal bovine serum or human serum used in cell manufacturing, and automated cell processing machines. These class-defining products are currently embedded in more than 50 ongoing clinical trials of new cell and gene therapies. Sexton was spun out of Cook Regentec in 2019 with seed funding from BioCrossroads, BioLife Solutions, Casdin Capital and Cook Regentec.

Mike Rice, BioLife Solutions Chairman and CEO, commented, "Our team has identified and closed six acquisitions in the last two and a half years, assembling a portfolio of class-defining bioproduction tools and services for the cell and gene therapy and broader biopharma markets. We welcome Team Sexton to BioLife and look forward to the contributions of Sexton's consumable products to our growing revenue base."

About Sexton Biotechnologies

Sexton Biotechnologies is a revenue-stage, biotechnology company focused on the development and sales of bioproduction tools for cell and gene therapy. The company was founded in 2019 as a spin out of Cook Regentec, a life science incubator/accelerator.  Sexton develops purpose-built cell and gene therapy (CGT) tools and media to enable flexible automation and scaling of cell manufacturing processes to increase the probability of positive clinical outcomes and reduce time-to-market, failure points and labor costs.  Sexton's portfolio includes the fluid handling system Signata CT-5, CellSeal platform of cryo-storage tools and fill/finish systems, and human platelet lysate growth supplements.  More information at www.sextonbiotechnologies.com.

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.

Cautions Regarding Forward Looking Statements

Except for historical information contained herein, this presentation 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 the expected contributions of the Sexton Biotechnologies (Sexton) bioproduction tools portfolio and personnel to the financial performance of the company, the company's ability to implement its business strategy and anticipated business and operations, in particular following the closing of its acquisition of Sexton, the expected synergies between the company and Sexton, the company's ability to realize all or any of the anticipated benefits associated with the acquisition of Sexton, and the potential utility of and market for the company's products and services and the company's ability to cross sell its products and services, including the products that the company acquired upon the closing of the acquisition of Sexton. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including among other things, charges or expenses resulting from the acquisition of Sexton, market adoption of the company's products (including the products of Sexton), the ability of the Sexton acquisition to be accretive on the company's financial results, the ability of the company to continue to implement its business strategy, the ability to retain Sexton's personnel, uncertainty regarding third-party market projections, market volatility, competition, litigation, the impact of the COVID-19 pandemic, and those other factors described in our risk factors set forth in our filings with the Securities and Exchange Commission from time to time, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We undertake no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, other than as may be required by applicable law.

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

What does the acquisition of Sexton Biotechnologies mean for BioLife Solutions?

The acquisition enhances BioLife’s offerings in bioproduction tools, crucial for cell and gene therapies, potentially increasing revenue.

How will Sexton's products impact BioLife Solutions' clinical trials?

Sexton’s products are used in over 50 ongoing clinical trials, which may improve success rates and market competitiveness.

When was the acquisition of Sexton Biotechnologies completed?

The acquisition was completed on September 1, 2021.

What strategic advantages does BioLife gain from acquiring Sexton?

BioLife gains access to innovative bioproduction tools and expands its market presence in the growing cell and gene therapy sector.

What are the risks associated with the acquisition of Sexton Biotechnologies?

Risks include potential integration challenges and the need to retain Sexton’s personnel for smooth operational continuity.