BioLife Solutions, Inc. (NASDAQ: BLSF) revealed that it has inked an acquisition agreement with Sexton Biotechnologies. Sexton Biotechnologies has gained recognition as an offeror of innovative manufacturing solutions for the cell and gene therapy (CGT) industry. Over the last two years, Sexton has thrived to deliver end-to-end solutions for evolving cell and gene therapy manufacturers.
BioLife Sciences consider that the products of Sexton Biotechnologies are extremely mutually harmonizing to its portfolio. It will allow BioLife to reinforce relations with its marquee base of cell and gene therapy developers. On the other hand, Sexton Technologies is of the view that this acquisition will mark a new beginning. The firm also believed that its solutions are creating a real effect in the industry, and the firm considers that this is just the start of their potential.
Acquisition Details
As per the definitive contract, BioLife Sciences will purchase all outstanding shares of the firm in a deal that costs a total value of $30 million. Moreover, the combination with BioLife will grow Sexton’s ability to fulfill the needs of the market for their advanced tools such as CellSeal cryogenic storage vials, the Signata CT-5 along prominent human platelet lysate growth supplements.
Sexton’s Future Endeavors
Furthermore, the team is striving to offer high-quality, sophisticated tools to its clients. The firm aims to make life-saving therapies more strong, trustworthy, and eventually, cost-effective. The firm is thrilled about the potential opportunities to better pursue its mission by entering the BioLife family. Sexton Technologies believes that BioLife Sciences is the best partner for the firm.