Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 BioLife Solutions Aquires Savsu Technologies | Contract Pharma

What are you searching for?

Sign in
Breaking News

BioLife Solutions Aquires Savsu Technologies

Adds evo cold chain management system, designed for high-value, temperature-sensitive biologics, to its portfolio

Author Image

By: Tim Wright

Editor-in-Chief, Contract Pharma

BioLife Solutions, a developer and supplier of a portfolio of bioproduction tools for cell and gene therapies, has acquired SAVSU Technologies, a developer of advanced cold chain management tools for cell and gene therapies.
 
The acquisition is expected to strengthen BioLife’s position as a supplier of disruptive, enabling solutions used in the manufacture, storage and distribution of cell and gene therapies. SAVSU’s evo system broadens BioLife’s bioproduction tools portfolio, and increases BioLife’s footprint and engagement level in its customers’ cell and gene therapy manufacturing workflow.
 
“SAVSU has established a critical and highly valued position as a best in class tools provider in the cell and gene therapy distribution ecosystem,” said Mike Rice, chief executive officer, BioLife. “Their highly competitive approach offers the most advanced smart container and SaaS technologies, and a go-to-market strategy that enables the leading specialty couriers to offer a higher level of customer service. We look forward to announcing evo product adoption decisions by several marquee cell and gene therapy developers in the coming months.”
 
Roderick de Greef, chief financial officer, BioLife, said, “We issued 1.1 million common shares to purchase the 56% of SAVSU we did not own. We expect a modest revenue contribution for the balance of 2019 of approximately $500,000. However, we believe that based on the successful conclusion of evaluations currently underway, which are expected to be finalized in the fourth quarter, the evo system product line could add $4 million to $6 million of incremental revenue in 2020.”

Add us as a preferred source on Google

Get the latest Contract Pharma news, insights and analysis in your Google Search and AI experiences.

Add Contract Pharma as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Contract Pharma Newsletters

Topics