Ginkgo Bioworks sells biostorage subsidiary SciSafe Holdings for $73M in cash

BioLife Solutions announces the sale of its wholly owned biostorage subsidiary, SciSafe Holdings, for $73M in cash. SciSafe generated approximately $10.4M in revenue for the six months ended June 30. In conjunction with this transaction, Todd Berard, BioLife’s Chief Marketing Officer, will assume all sales and marketing functions for the company in the newly created position of Chief Commercial Officer. Berard has been with BioLife for more than 10 years and brings a proven skillset and established customer relationships to this expanded role. Garrie Richardson, previously BioLife’s Chief Revenue Officer for the last year, will join a now independent SciSafe as CEO.