BioLife Solutions Announces the Divestiture of Its Stirling Freezer Business

BioLife Solutions, Inc. (NASDAQ: BLFS) (“BioLife” or the “Company”), a leading developer and supplier of bioproduction products and services for the cell and gene therapy (“CGT”) and the broader biopharma markets, has announced that it has completed the divestiture of its wholly owned subsidiary Global Cooling, Inc. (“GCI” or “Stirling”). Roderick de Greef, Chairman and CEO, commented, “After a thorough and extensive process, we’re pleased to have completed the divestiture of the Stirling freezer business. The sale is expected to immediately eliminate several million dollars of quarterly cash burn and removes product warranty liabilities, which totaled $7.5 million as of December 31, 2023.”

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Source: https://www.prnewswire.com/news-releases/biolife-solutions-announces-the-divestiture-of-its-stirling-freezer-business-302120514.html

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