Investment Firm to Purchase Shares from Existing Holders
BioLife Solutions, Inc. (NASDAQ: BLFS), the leading developer, manufacturer and marketer of proprietary clinical grade biopreservation media, (“BioLife” or the “Company”), today announced that two funds managed by Sandler Capital Management, (“Sandler Capital”) a New York-based, sophisticated investor, active in the life science tools and services space, has entered into an agreement to purchase 500,000 BioLife Solutions common shares in a private transaction with the Company’s two largest shareholders, who have been a primary source of investment capital for the Company since its inception.
Mike Rice, BioLife CEO commented, “We are pleased that Sandler Capital has significantly added to two of its funds’ holdings in BioLife Solutions with this transaction. After extensive diligence, Sandler Capital’s management team believes we have a unique position as a supplier of proprietary, critical cell and gene therapy manufacturing tools to the high growth regenerative medicine market.”
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