08:56 AM EDT, 04/07/2025 (MT Newswires) -- BioLife Solutions ( BLFS ) said Monday it acquired privately-held PanTHERA CryoSolutions, a cryopreservation solution developer utilizing proprietary ice recrystallization inhibitor technology, to strengthen its position in biopreservation by enhancing its product portfolio and adding scientific expertise to its management team.

The company said it acquired 90% of PanTHERA shares it does not already own for $9.3 million in cash and 241,355 shares of its common stock.

BioLife also said PanTHERA's shareholders may receive up to $7.2 million in BioLife stock over the next three years, contingent on achieving specific scientific and revenue milestones.

BioLife said it initially invested in PanTHERA in 2020 through its Bioproduction Innovation Accelerator, co-sponsored with Casdin Capital.