Repligen has entered into a definitive agreement to acquire BioLife Solutions in a cash-and-stock transaction with an enterprise value of approximately $1.5 billion.
BioLife shareholders will receive $11.25 in cash and 0.1442 Repligen shares for each BioLife share. The consideration was valued at $31 per share when the transaction was announced and represents a 24% premium to BioLife’s 90-day volume-weighted average share price through July 21, 2026.
Approximately 64% of the consideration will consist of Repligen common stock, with the remaining 36% paid in cash. Repligen will fund the cash portion using cash on hand. The boards of both companies unanimously approved the agreement.
The acquisition expands Repligen’s presence in the cell and gene therapy market. BioLife develops products used to protect biological materials during collection, processing, storage and distribution.
BioLife’s portfolio includes CryoStor, a biopreservation media platform used to maintain the health and function of cells during freezing, storage and transportation. BioLife said CryoStor supports 18 commercially approved therapies and a majority of commercially sponsored cell therapy trials in the United States.
Biopreservation products are recurring consumables used throughout cell therapy manufacturing and delivery. Repligen expects the acquisition to add a high-margin revenue stream that complements its existing filtration, fluid management, chromatography, process analytics and protein technologies.
The combination could allow Repligen to offer customers a broader set of products across biologics and cell therapy production. BioLife is also expected to benefit from Repligen’s commercial reach, particularly in the Asia-Pacific region.
Repligen expects the acquisition to improve its revenue growth rate, adjusted margins and adjusted earnings per share. The company projects an adjusted EPS contribution of at least $0.05 during the first year and at least $0.25 during the second year.
The company anticipates at least $20 million in synergies during the first year and at least $30 million during the second. Expected savings include the elimination of duplicate public-company costs, administrative efficiencies and manufacturing and supply chain improvements.
Repligen expects to retain more than $300 million of cash and cash equivalents on a pro forma basis following the transaction. The company said this would preserve flexibility for future acquisitions and other investments.
The acquisition is expected to close during the fourth quarter of 2026. Completion remains subject to approval by BioLife shareholders, regulatory clearances and other customary closing conditions.
Perella Weinberg and Goldman Sachs are serving as Repligen’s financial advisers, while Goodwin Procter is providing legal counsel. Centerview Partners is BioLife’s financial adviser, and K&L Gates is serving as its legal counsel.
KEY QUOTES:
“The acquisition of BioLife represents a natural next step in the evolution of our strategy and further strengthens our position as a leading provider of mission-critical technologies for biologics manufacturing.”
“BioLife brings a highly differentiated portfolio of products including a market-leading biopreservation media platform and other cell processing tools. This opportunity will expand Repligen’s presence in the rapidly growing cell therapy market, broaden our solutions offering to cell therapy customers, and add a deeply embedded, high-margin consumables business with attractive recurring revenue.”
Olivier Loeillot, President and CEO of Repligen
“Repligen shares our commitment to providing innovative, differentiated, and enabling tools that help customers bring important therapies to patients.”
“Its global commercial reach, complementary technologies and proven operating capabilities make Repligen an ideal partner for BioLife. This Transaction will expand the reach and impact of our portfolio, while providing BioLife stockholders with immediate cash value and the opportunity to participate in Repligen’s future growth.”
Roderick de Greef, Chairman and CEO of BioLife Solutions
