Sandler Capital Funds to Increase Shareholding in BioLife Solutions
Investment Firm to Purchase Shares from Existing Holders
BOTHELL, Wash., July 9, 2018 /PRNewswire/ -- 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."
About Sandler Capital Management
Sandler Capital, a Registered Investment Advisor since 1988, is an alternative asset management firm managing both hedge funds and private equity funds. Sandler Capital currently manages approximately $1.7 billion in assets. Sandler Capital's clients include high net worth individuals, large family offices, pension funds, endowments, and other institutions. The firm is headquartered in New York City and has 31 employees. For more information, please visit www.sandlercap.com.
About BioLife Solutions
BioLife Solutions is the leading developer, manufacturer and supplier of proprietary, clinical-grade biopreservation media for cells and tissues. Our HypoThermosol® hypothermic storage and CryoStor® cryopreservation freeze media are highly valued in the regenerative medicine, biobanking and drug discovery markets. These novel biopreservation media products are serum-free and protein-free, fully defined, and are formulated to reduce preservation-induced cell damage and death; offering commercial companies and clinical researchers significant improvement in shelf life and post-preservation viability and function. For more information please visit www.biolifesolutions.com, and follow BioLife on Twitter.
Except for historical information contained herein, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements concerning the company's anticipated business and operations, guidance for financial results in 2018, including achieving GAAP operating profit, EBITDA, adjusted EBITDA and cash flow from operations, the potential utility of and market for its products and services, potential revenue growth and market expansion, regulatory approvals and/or commercial manufacturing of our customers' products, and potential customer revenue. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including among other things, uncertainty regarding market adoption of products; uncertainty regarding third-party market projections; market volatility; competition; litigation; and those other factors described in our risk factors set forth in our filings with the Securities and Exchange Commission from time to time, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We undertake no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, other than as may be required by applicable law.
Media & Investor Relations
Roderick de Greef
Chief Financial Officer
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SOURCE BioLife Solutions, Inc.