Repligen to Acquire BioLife Solutions in $1.5 Billion Cell Therapy Deal

Repligen has entered into a definitive agreement to acquire BioLife Solutions, a US-based developer and supplier of cell processing tools and services, for a total enterprise value of approximately $1.5 billion, the companies announced July 22, 2026.^1,2 The deal pairs Repligen's bioprocessing technology portfolio with BioLife's biopreservation media business, adding a high-margin, recurring-revenue franchise to Repligen's offering for cell and gene therapy (CGT) manufacturers.

"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," said Olivier Loeillot, president and CEO of Repligen, in a company press release.¹

Roderick de Greef, chairman and CEO of BioLife, said in the release that Repligen's global commercial reach and complementary technologies make it "an ideal partner" for BioLife's biopreservation media franchise, adding that the deal gives BioLife stockholders immediate cash value along with the opportunity to participate in Repligen's future growth.¹

Boards of directors at both companies unanimously approved the transaction.^1,2 The companies cited cell therapy commercial revenues, projected to grow more than 20% annually through the end of the decade, as a driver of the deal.¹

What are the terms of the transaction?

Under the agreement, BioLife stockholders will receive $11.25 per share in cash plus 0.1442 shares of Repligen common stock, for a total implied value of $31.00 per share, which represents a 24% premium over BioLife's 90-day volume-weighted average price through July 21, 2026, according to the company.^1,2 Consideration is structured as approximately 64% stock and 36% cash, with the cash portion funded from Repligen's existing balance sheet.¹

The transaction is expected to close in the fourth quarter of 2026, pending regulatory clearance, BioLife stockholder approval, and other customary closing conditions.¹

What does BioLife bring to Repligen's cell therapy business?

BioLife's flagship CryoStor biopreservation media platform is used in 18 commercially approved cell therapies and in most US commercially sponsored cell-based therapy trials, according to the companies.¹ Repligen said the combination broadens its solutions offering for CGT customers and adds a deeply embedded, high-margin consumables business with recurring revenue.¹

As a combined commercial organization, BioLife is expected to benefit from Repligen's broader global reach, including Asia-Pacific markets, while Repligen gains access to BioLife's trusted customer relationships across the cell therapy workflow.¹

What financial impact does Repligen expect?

Repligen projects the deal will be accretive to top-line growth, adjusted margins, and adjusted earnings per share by at least 5 cents in year 1 and at least 25 cents in year 2.¹ The company expects at least $20 million in cost synergies in year one, rising to at least $30 million in year two, from eliminating BioLife's public-company costs, general and administrative efficiencies, and manufacturing and supply-chain optimization.¹ Projections assume only modest revenue synergies, leaving room for cross-selling upside, and Repligen expects to retain more than $300 million in pro forma cash post-close.¹

Both companies also disclosed preliminary, unaudited second-quarter (Q2) 2026 results. Repligen expects reported revenue growth of approximately 12%, or 13% organic, year over year.^1,2 BioLife expects Q2 revenue of $28.5 million, up 21% from $23.4 million a year earlier. Repligen will report full results on July 28, 2026, and BioLife will report its full results on August 6, 2026. The company will not hold an earnings call due to the pending deal.¹

What comes next?

Perella Weinberg and Goldman Sachs are advising Repligen, with Goodwin Procter as legal counsel. Centerview Partners is advising BioLife, with K&L Gates as legal counsel.¹

Repligen will file a Form S-4 registration statement with the Securities and Exchange Commission containing a proxy statement/prospectus for BioLife stockholders to review ahead of a vote.¹

References

1. BioLife Solutions. Repligen to acquire BioLife Solutions, expanding its cell therapy capabilities with market leading biopreservation media. Published July 22, 2026. Accessed July 23, 2026. https://investors.biolifesolutions.com/press-releases?item=434
2. Repligen Corporation. Form 8-K, Exhibit 99.1: Repligen to acquire BioLife Solutions, expanding its cell therapy capabilities with market leading biopreservation media. Filed with the US Securities and Exchange Commission July 22, 2026. Accessed July 23, 2026. https://www.sec.gov/Archives/edgar/data/730272/000119312526311402/d141685dex991.htm