BioLife Solutions to Fully Acquire Sexton Biotechnology – The Facts in Brief

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(RTTNews) – BioLife Solutions, Inc. (BLFS) announced Monday that it has entered into a definitive agreement to acquire all remaining outstanding shares of privately held Sexton Biotechnologies, Inc., which it does not currently own, for 24 , $ 0 million, in consideration of 506,382 newly issued BioLife ordinary shares.

The proposed acquisition will allow BioLife Solutions to expand its portfolio of cell and gene therapy tools. Sexton’s proprietary media and consumables are incorporated into over 50 ongoing cell therapy clinical trials.

Taking into account liquidation preferences, BioLife will retain 19.9% ​​of the consideration due to Sexton shareholders. BioLife plans to retain all Sexton team members and the current facility in the 16 Tech Innovation District in downtown Indianapolis.

The transaction is expected to close by September 1, 2021.

Sexton was spun off from Cook Regentec in 2019 with seed funding from BioCrossroads, BioLife Solutions, Casdin Capital and Cook Regentec. Sexton is expected to add $ 8 million in revenue to BioLife Solutions in 2022.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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