Repligen to Buy BioLife Solutions in $1.5 Billion Mixed Deal
The acquisition would expand Repligen’s cell-therapy offering with a high-margin consumables business built on recurring revenue.
Repligen Corporation (RGEN) agreed to acquire BioLife Solutions, Inc. (BLFS) in a cash-and-stock transaction with an enterprise value of approximately $1.5 billion, expanding the bioprocessing-equipment supplier’s position in the cell-therapy market.
BioLife stockholders would receive $11.25 in cash and 0.1442 shares of Repligen common stock for each BioLife share. The consideration represented an implied premium of 24% to BioLife’s 90-day volume-weighted average price for the period ended July 21, 2026. The companies expected the transaction to close in the fourth quarter of 2026.
The acquisition would broaden the range of solutions Repligen offers cell-therapy customers and add a deeply embedded consumables business with high margins and recurring revenue. BioLife’s portfolio includes biopreservation media and other cell-processing tools used during the development and production of cell and gene therapies.
“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,” Repligen President and Chief Executive Olivier Loeillot said. “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. Just as important, we believe our shared culture of innovation and customer centricity will create a strong foundation for future growth and value creation”.
BioLife entered the deal with products embedded across commercial therapies and clinical development programs. As of March 31, its biopreservation media was used in about 250 ongoing commercially sponsored U.S. clinical trials, representing more than 70% market share, including over 30 Phase III trials. The media was also used in 17 commercial cell and gene therapies. BioLife reported first-quarter revenue of $27.5 million, up 25% from a year earlier, with a gross margin of 64% and adjusted earnings before interest, taxes, depreciation and amortization of $6.2 million.
Completion remained subject to customary regulatory approvals, approval by BioLife stockholders and other closing conditions in the merger agreement. If completed as scheduled, the transaction would give Repligen a larger role in cell-therapy manufacturing through products already embedded in clinical pipelines and commercial treatments, extending its reach into recurring consumables alongside its existing biologics-manufacturing technologies.