Repligen to Acquire BioLife Solutions, Enhancing Cell Therapy Capabilities

Repligen Corporation (NASDAQ: RGEN) and BioLife Solutions, Inc. (NASDAQ: BLFS) have announced a definitive agreement for Repligen to acquire BioLife for a total enterprise value of around $1.5 billion. This transaction involves 64% in Repligen common stock and 36% in cash, subject to customary closing conditions. The boards of both companies have unanimously approved the deal.

Olivier Loeillot, President and CEO of Repligen, stated, “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.” He added that this acquisition will broaden Repligen’s offerings in the rapidly growing cell therapy market and enhance its high-margin consumables business.

Roderick de Greef, Chairman and CEO of BioLife, remarked, “Over the past several years, we have successfully repositioned BioLife around our market-leading biopreservation media franchise, while strengthening our financial profile and establishing a durable foundation for profitable growth.” He emphasized that Repligen’s global reach and complementary technologies make it an ideal partner for BioLife.

The strategic rationale behind this acquisition is compelling as the cell therapy sector is expected to witness commercial revenues growing by more than 20% annually through the end of the decade. BioLife’s products are integral to the cell therapy workflow and complement Repligen's offerings. The combined entity is anticipated to see an increase in top-line growth, adjusted margins, and earnings per share, with Repligen projecting at least 5 cents in year one and 25 cents in year two.

Repligen is also expecting at least $20 million in synergies during the first year and $30 million in the second year, mainly from operational efficiencies and supply chain optimization. The transaction will be funded using cash on hand, and Repligen’s balance sheet is expected to remain strong with over $300 million in pro forma cash post-acquisition.

The terms of the transaction stipulate that BioLife stockholders will receive $11.25 per share in cash and 0.1442 shares of Repligen common stock, totaling $31.00 per share, representing a 24% premium over BioLife's 90-day volume-weighted average price.

The acquisition is projected to close in the fourth quarter of 2026, pending regulatory approvals and the approval of BioLife stockholders.

In terms of financial performance, Repligen anticipates a preliminary second-quarter revenue growth of approximately 12% and 13% on an organic basis. BioLife expects to report second-quarter revenues of $28.5 million, reflecting a 21% increase from the previous year.

Repligen will hold a conference call today to discuss the acquisition, accessible via their website. Financial advisors for the transaction include Perella Weinberg and Goldman Sachs for Repligen, while Centerview Partners is advising BioLife.

With this acquisition, Repligen aims to solidify its leadership in bioprocessing technology and expand its role in the burgeoning cell therapy landscape.