BioLife Solutions, Inc. (NASDAQ: BLFS), a leading developer and supplier of a portfolio of best in class bioproduction tools for cell and gene therapies, today announced that SAVSU Technologies, a leading developer of advanced cold chain management tools for cell and gene therapies, has partnered with United Cargo to offer timely, efficient, same-day airport-to-airport service of vital medical shipments when time is of the utmost importance.
Mike Rice, BioLife CEO, remarked, ‘SAVSU is continuing to build strong partnerships with best in class service providers in the cell and gene therapy distribution ecosystem. Their highly competitive approach offers the most advanced smart container and SaaS technologies, and a go-to market strategy that enables the specialty couriers to fully leverage the existing worldwide infrastructure of United Cargo. We believe SAVSU is on the verge of breaking out with significant product adoption by a marquee list of cell and gene therapy customers.’
BioLife previously announced that it had exercised its option to acquire the remaining 56% of the outstanding shares of privately held SAVSU that it currently does not own in exchange for 1.1 million shares of BioLife common stock. The acquisition will be pursuant to a share purchase agreement and is expected to close within 30 days.
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