Sexton Biotechnologies, a provider of novel manufacturing solutions for the cell and gene therapy (CGT) industry, today announced that it has entered into a definitive agreement whereby BioLife Solutions (NASDAQ: BLFS) will acquire all outstanding shares of the company in a deal worth a total value of $30 million.
During the past two years, Sexton has worked to provide end-to-end solutions for emerging cell and gene therapy manufacturers. The merger with BioLife will expand Sexton’s ability to meet market demands for their innovative tools such as CellSeal® cryogenic storage vials, the Signata CT-5™, the industry’s first flexible, semi-automated fluid handling system, along with industry leading human platelet lysate growth supplements.
In two years, the Sexton team has launched multiple new products and experienced significant revenue growth. “With the guidance and support of our investors, the Sexton team has executed to reach our development and growth milestones,” said Sean Werner, PhD, President of Sexton Biotechnologies who will become BioLife’s Chief Technology Officer – Cell Processing Platform. “The team is focused on providing high quality, innovative tools to our customers so that their life saving therapies can be more robust, reliable, and ultimately, cost effective. We’re excited about the opportunities to better support our mission by joining the BioLife family and can’t imagine a better home for our team members and technologies.”