Biolife Solutions Inc - BLFS STOCK NEWS

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.

On March 22, 2021, Stirling Ultracold announced a definitive agreement to merge with BioLife Solutions (NASDAQ: BLFS), enhancing their position in the Gene and Cell Therapy markets. Backed by the Ohio Innovation Fund, Stirling's innovative Stirling engine technology has established it as a leader in energy-efficient ultra-low temperature biorepositories. With key personnel changes, including Dusty Tenney as President and COO of BioLife, the merger aims to accelerate growth and expand market reach.

Stirling Ultracold has entered a merger agreement with BioLife Solutions (NASDAQ: BLFS) to enhance offerings for biopharma and life sciences. The merger, set to close in Q2 2021, will preserve Stirling’s brand and staff while expanding its technology portfolio.

Stirling, known for its Energy Star™ certified ULT freezers, has over 80 patents, playing a crucial role in COVID-19 vaccine storage. Both companies expect synergies that will enhance ultracold storage solutions in various medical fields, facilitating faster pharmaceutical research and advanced treatment capabilities.

BioLife Solutions (BLFS) reported financial results for Q4 and the year ended December 31, 2020, showcasing a 78% revenue increase to $14.7 million, driven by strong sales across its portfolio. The company gained 213 new direct customers and projects total revenue in 2021 between $101 million to $110 million, reflecting growth of 110% to 129%. The gross margin declined to 50% from 57% YoY. Despite a net loss of $2.1 million in Q4 2020 compared to a net income of $3 million in Q4 2019, the acquisition of Stirling Ultracold is expected to enhance product offerings and revenue streams.

BioLife Solutions (NASDAQ: BLFS) announced a merger with Global Cooling, Inc., operating as Stirling Ultracold, for an all-stock transaction of 6,646,870 shares. This acquisition aims to enhance BioLife's position in the ultra-low temperature (ULT) freezer market, projected to reach nearly $800 million by 2027. Following the merger, BioLife anticipates exceeding $100 million in total GAAP revenue for 2021 and expects the transaction to be accretive to net income per share from 2022 onwards. BioLife reported a 76% revenue increase in 2020, totaling $48.1 million.

BioLife Solutions (NASDAQ: BLFS) has announced it will release its fourth quarter and full year 2020 financial results after market close on March 22, 2021. A conference call for investors will follow at 4:30 p.m. ET, where management will discuss financial results and provide an update on company developments. Investors can access the webcast via BioLife's Investor Relations page. This announcement positions BioLife for potential market reactions based on its forthcoming financial performance.

BioLife Solutions, a leader in bioproduction products for cell and gene therapies, has promoted Marcus Schulz to Chief Revenue Officer from his previous role as Vice President of Global Sales. This decision is aimed at reinforcing the company's sales strategy for continued growth. CEO Mike Rice praised Schulz's leadership and the results achieved by the sales team. BioLife Solutions offers a comprehensive range of bioproduction tools including CryoStor and HypoThermosol, enhancing their position in the market.

BioLife Solutions (NASDAQ: BLFS), a leader in bioproduction products for cell and gene therapies, announced two significant co-investments with Casdin Capital on December 1, 2020. The first investment is a $1 million commitment to iVexSol, contributing to a total of $15.2 million in their Series A financing. BioLife also plans to invest $1 million in PanTHERA CryoSolutions, with the potential for an additional $2 million in development payments. Both investments aim to enhance next-generation technologies in the field, positioning BioLife for growth in the bioproduction sector.

BioLife Solutions (NASDAQ: BLFS) has been ranked 403rd on Deloitte's Technology Fast 500™, recognizing its rapid growth as a leading supplier of bioproduction products for cell and gene therapies.

Revenue increased by 233% from 2016 to 2019, highlighting its successful market penetration. CEO Mike Rice emphasized the company’s potential in the regenerative medicine sector, anticipating significant growth in demand for their bioproduction tools. With proprietary technologies and a strong market presence, BioLife is poised to expand further.