BioLife Solutions to acquire Global Cooling.

BioLife Solutions, a developer and supplier of a portfolio of class-defining bioproduction products and services for cell and gene therapies, agreed to acquire Global Cooling, operating as Stirling Ultracold, a privately held manufacturer of ultra-low temperature mechanical freezers. BioLife will issue 6.6m shares of common stock for 100% of the outstanding shares of Stirling in an all-stock transaction. "With this transaction, we continue to execute our M&A strategy to consolidate the bioproduction tools and services space by adding novel and disruptive technologies to our portfolio. This acquisition superbly complements our offering. Combining Stirling's -20°C to -86°C freezer systems with our current liquid nitrogen freezers provides complete ULT coverage of cold-chain infrastructure critical for personalized medicine. Further, Stirling's intellectual property portfolio of 80 patents fulfills our goal of acquiring novel and disruptive technologies that we can market to our cell and gene therapy customers, as well as to the broader biopharma industry. Demand for Stirling's ULT freezers is significant, fueled by the storage requirements for Covid-19 vaccines," Mike Rice, BioLife Solutions CEO.