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BOTHELL, Wash. - BioLife Solutions, Inc. (NASDAQ:BLFS), a company maintaining a strong financial health score according to InvestingPro analysis, has purchased $2 million in convertible notes from Pluristyx, Inc., a Seattle-based developer of induced pluripotent stem cell (iPSC) products for cell therapy developers, the company announced Monday.
The investment is part of a larger financing round for Pluristyx. Under a separate agreement, BioLife will receive a board observer seat and certain rights related to any potential future acquisition of Pluristyx.
"Their recent development of an iPSC-based biological assay for organoid manufacturing dovetails with our interest in exploring biological assays more broadly as a product portfolio adjacency," said Roderick de Greef, BioLife’s Chairman and CEO, in a press release statement.
BioLife Solutions develops and supplies bioproduction products and services for the cell and gene therapy market. The company’s solutions help maintain the health and function of biological materials during collection, development, storage, and distribution processes. With a healthy current ratio of 4.73 and moderate debt levels, the company maintains strong operational flexibility. According to InvestingPro data, BioLife has achieved impressive revenue growth of 34.8% over the last twelve months.
Pluristyx focuses on developing cell-based tools and therapies, offering products such as PluriKit, PluriForm Organoids, and PluriBank stem cells with various safety features.
Benjamin Fryer, Pluristyx’s CEO, said the investment would help the company manufacture, commercialize and distribute its solutions to customers.
This strategic investment follows BioLife’s previous investments in Sexton and PanTHERA, according to the company’s statement. The company’s stock has shown positive momentum with an 8.77% return over the past week. Investors seeking deeper insights can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports, which provide expert analysis on over 1,400 US stocks, including BLFS.
In other recent news, BioLife Solutions reported its Q1 2025 earnings, surpassing expectations with an earnings per share (EPS) of -$0.01, compared to the forecasted -$0.05. The company’s revenue for the quarter reached $23.9 million, exceeding the anticipated $21.6 million. These results highlight a strong performance for the company in the first quarter of 2025. Additionally, H.C. Wainwright reaffirmed its Buy rating for BioLife Solutions, maintaining a $30.00 price target. This decision was made following discussions with BioLife’s management and adjustments to the firm’s quarterly revenue projections for 2025. Analysts at H.C. Wainwright have updated their financial model to reflect expected sequential growth in 2025, excluding the impact of discontinued operations. Despite these adjustments, the full-year revenue projection remains set at $97.5 million. These developments provide investors with a detailed look at BioLife Solutions’ recent financial performance and outlook.
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