Welcome to our dedicated page for Biolife Solutions news (Ticker: BLFS), a resource for investors and traders seeking the latest updates and insights on Biolife Solutions stock.
BioLife Solutions develops and supplies cell processing tools and bioproduction products for the cell and gene therapy market and broader biopharma customers. Company news commonly covers financial results from continuing operations, demand for biopreservation media, and the role of its products in maintaining biologic material during collection, development, manufacturing, storage, distribution, and thawing.
Recurring updates also include product-portfolio expansion, supply agreements for cell and gene therapy manufacturing inputs, CellSeal vial systems, human platelet lysate products, cytokine and growth factor distribution, and research activity tied to biopreservation and cryopreservation technologies.
BioLife Solutions (Nasdaq: BLFS) has announced its acquisition of Sexton Biotechnologies for $24.0 million, paid through 506,382 newly issued shares. This transaction is expected to close by September 1, 2021. Sexton's products, including closed vials and human platelet lysate media, are integral to over 50 clinical trials. The acquisition is projected to contribute approximately $2 million to BioLife's 2021 revenue and $8 million in 2022, benefiting from synergies between both companies' offerings.
BioLife Solutions (NASDAQ: BLFS) will release its second quarter 2021 financial results on August 12, 2021, after market close. A conference call and live webcast will follow at 4:30 p.m. ET. The call will provide insights into the financial results and an overall business update. Investors can access the webcast on BioLife's Investor Relations page or join the call using Conference ID: 8083954. BioLife is known for its innovative bioproduction products tailored for cell and gene therapies.
BioLife Solutions (Nasdaq: BLFS) has announced changes to its board of directors, effective July 12, 2021. Raymond W. Cohen resigned from the board after serving since 2006 and as chairman since 2013. Mike Rice, the current CEO, has been appointed as the new chairman. Cohen expressed gratitude for his time at BioLife, highlighting the company's growth in bioproduction tools for cell and gene therapies. The leadership transition aims to ensure continued strategic direction and growth.
BioLife Solutions (Nasdaq: BLFS) announced a new corporate brand identity, including a redesigned logo and website, aimed at better representing its expanded portfolio of bioproduction products for cell and gene therapies. The new branding reflects BioLife's mission as a leader in biopreservation tools and is designed for flexibility in digital environments. Key features of the updated website include enhanced e-commerce capabilities, a broader product catalog, improved security, and integration of previously acquired companies.
BioLife Solutions (Nasdaq: BLFS) announced the promotion of Caitlin Rice to Global Vice President, Customer Service, effective May 19, 2021. Reporting to President Dusty Tenney, Rice aims to enhance customer service initiatives supporting the evo® cold chain management system. Her prior experience as Senior Director for Commercial Support contributed to robust customer service programs. Caitlin holds degrees in public policy and law, enhancing her qualifications for this leadership role. This strategic move is expected to strengthen BioLife's position in the bioproduction sector.
BioLife Solutions (BLFS) reported record first-quarter revenue of $16.8 million, a 39% increase from $12.2 million year-over-year. The company gained 80 new customers, including 16 for its biopreservation media. The acquisition of Global Cooling Inc. is expected to contribute $40 million to $42 million to 2021 revenue, increasing overall guidance to between $106 million and $115 million. However, the company posted an operating loss of $981,000 and a net loss of $1.1 million.
BioLife Solutions (NASDAQ: BLFS) will release its Q1 2021 financial results on May 13, 2021, after market close. Following this, a conference call and live webcast will be held at 4:30 p.m. ET for an overview of the financial results and a business update. Interested parties can access the webcast on the company’s Investor Relations page or via conference call. The company specializes in bioproduction products for cell and gene therapies and the broader biopharma market.
BioLife Solutions (BLFS) has completed the acquisition of Stirling Ultracold, issuing 6,646,870 shares for 100% of Stirling's outstanding shares. Expected revenue contribution from Stirling for 2021 is $35 million to $37 million, contributing to BioLife's total projected revenue of $101 million to $110 million. Stirling will supply 100 ultra-low temperature freezers to a leading CDMO, expanding their partnership. CEO Mike Rice anticipates cross-selling opportunities with BioLife's bioproduction tools, enhancing market reach in cell and gene therapies.
BioLife Solutions, a developer of bioproduction products, has launched a new line of high capacity controlled rate freezers (HCRF) aimed at cell therapy developers. The initial shipment targets a leading cell therapy company and supports their cold chain management for allogeneic cell therapies. The new freezers enhance BioLife's product line with features such as large volume freezing, quality assurance data management, and a touch screen controller. Expected gross margins for this product line are projected in the mid to high 50% range, with average selling prices between $450,000 and $750,000.
BioLife Solutions, Inc. (NASDAQ: BLFS) has appointed Amy DuRoss and Rachel Ellingson to its board of directors. DuRoss, CEO of Vineti, brings expertise in cell and gene therapy, while Ellingson, senior VP at Zimmer Biomet, adds significant M&A experience. Both directors will support BioLife's growth strategy and enhance shareholder value. DuRoss will serve on the Audit and Compensation committees, and Ellingson will be on the Compensation and Nominating and Governance committees. These appointments come at a crucial time for the company as it seeks to expand its position in the bioproduction market.