Repligen to buy BioLife Solutions for $1.5B in cell therapy push
What's the deal? RepligenDealroom has a profile for this one. Try Dealroom → has agreed to acquire BioLife SolutionsDealroom has a profile for this one. Try Dealroom → for a total enterprise value of about $1.5 billion. BioLife stockholders will receive cash and Repligen common stock worth $31.00 per share, with the deal structured as 64% stock and 36% cash. Both companies' boards unanimously approved the transaction.
Who are they? Repligen is a Massachusetts-based life sciences company focused on bioprocessing technology. Washington-based BioLife develops cell processing tools and services for the cell and gene therapy market, led by its CryoStor biopreservation media.
What's the endgame? The acquisition expands Repligen's presence in cell therapy, adding what it calls a "high-margin consumables business with attractive recurring revenue." BioLife's biopreservation media supports 18 commercially approved therapies and most US commercially sponsored cell-based therapy trials.
Why now? Cell therapy is a growing share of the global pharma pipeline, with commercial revenues projected to grow more than 20% annually through the end of the decade. BioLife's products are deeply embedded in the cell therapy workflow and complement Repligen's existing offering.
By the numbers: Repligen reported preliminary second-quarter revenue growth of about 12%, or 13% organic. BioLife posted preliminary second-quarter revenue growth of about 21% year-over-year. Repligen expects the deal to lift its adjusted earnings per share by at least 5 cents in year one and at least 25 cents in year two.
What they're saying: The deal "represents a natural next step in the evolution of our strategy," said Repligen chief executive officer Olivier Loeillot, pointing to BioLife's "market-leading biopreservation media platform." BioLife chairman and chief executive officer Roderick de GreefDealroom has a profile for this one. Try Dealroom → said the transaction gives stockholders "immediate cash value and the opportunity to participate in Repligen's future growth."
The signal: As cell and gene therapies move from trials to commercial production, suppliers of the enabling tools are consolidating to offer end-to-end workflows. Repligen is betting that owning BioLife's embedded consumables business — paired with its own global reach — positions it to capture a fast-growing slice of biologics manufacturing.
Read more: GlobeNewswire
Image credit: National Institutes of Health (NIH)
