Repligen to Acquire BioLife Solutions in $1.5 Billion Deal

Repligen Corporation (NASDAQ: RGEN), a leading life sciences company focused on bioprocessing technology, announced its definitive agreement to acquire BioLife Solutions Inc. (NASDAQ: BLFS), a key developer and supplier of cell processing tools and services for the cell and gene therapy (CGT) market, for approximately $1.5 billion in a cash-and-stock transaction. This strategic acquisition is poised to solidify Repligen's leadership in the high-growth cell therapy market and expand its comprehensive offering of customer solutions.

Under the terms of the agreement, BioLife Solutions stockholders will receive $11.25 per share in cash and 0.1442 shares of Repligen common stock, equating to a total value of $31.00 per share. This represents an implied premium of 24% to BioLife's 90-day volume-weighted average price as of July 21, 2026. The total consideration will be comprised of 64% Repligen common stock and 36% cash. The boards of directors of both companies have unanimously approved the transaction.

BioLife Solutions brings a highly differentiated portfolio of products, including a market-leading biopreservation media platform and other critical cell processing tools. Its biopreservation media portfolio, notably led by CryoStor®, supports 18 commercially approved therapies and the majority of U.S. commercially sponsored cell-based therapy trials. Olivier Loeillot, President and CEO of Repligen, stated that the acquisition represents a natural next step in their strategy, further strengthening their position as a leading provider of mission-critical technologies for biologics manufacturing.

Financially, the transaction is expected to be accretive to Repligen's top-line growth, adjusted margins, and adjusted earnings per share by at least $0.05 in year one and at least $0.25 in year two. Repligen anticipates realizing at least $20 million in synergies in the first year and at least $30 million in the second year. These synergies are expected to stem primarily from the elimination of public-company costs, general and administrative (G&A) efficiencies, and optimization of manufacturing and supply chain operations.

The transaction is anticipated to close in the fourth quarter of 2026, subject to customary regulatory approvals and approval by BioLife stockholders. The cash component of the merger consideration will be funded with Repligen's existing cash on hand. Following the transaction, Repligen expects to maintain a healthy balance sheet with over $300 million in pro forma cash and cash equivalents, preserving flexibility for future merger and acquisition opportunities.

Both companies also disclosed preliminary second-quarter 2026 financial results. Repligen expects its reported revenue growth for the second quarter to be approximately 12%, or 13% on an organic basis. BioLife Solutions anticipates its preliminary second-quarter revenue to increase by approximately 21% year-over-year, reaching $28.5 million. This combination is strategically positioned to capitalize on the dynamic cell and gene therapy market, which is projected to grow at over 20% annually.