July 22 (Reuters) - Repligen Corp said on Wednesday it would buy BioLife Solutions in a cash-and-stock deal valued at ‌about $1.5 billion, to expand the drugmaking equipment provider's presence in ‌the fast-growing cell therapy market.
The acquisition gives Repligen access to BioLife's technology to preserve cells throughout the manufacturing process and the supply chain, as well as its portfolio of cell-processing tools and high-margin consumables business.
Larger peer Danaher on Tuesday signaled a recovery in demand for bioprocessing products, including ‌equipment and consumables used ⁠to manufacture biologic drugs, as biotech and pharmaceutical companies ramp up spending after a broader slowdown in research ⁠spending and customer inventories in recent years.
The acquisition comes a month after German drugmaker Merck KGaA's $11.3 billion deal to buy Bio-Techne, underscoring growing interest in companies making tools for drug development.
BioLife shareholders will receive $11.25 in ‌cash and 0.1442 shares of Repligen for each share, valuing the cell therapy tools supplier at $31 per share — a premium of about 6.2% to BioLife's last close.

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