GlycoNet-supported startup PanTHERA CryoSolutions acquired by BioLife Solutions

GlycoNet is proud to share that PanTHERA CryoSolutions Inc., a Canadian company developing innovative products to protect frozen cells, tissues, and cell-based products, has been acquired by BioLife Solutions. BioLife has acquired all outstanding shares of the company and will incorporate PanTHERA’s intellectual property, operations, and products into its portfolio of biopreservation technologies. PanTHERA will continue to maintain its staffing and operations in Ottawa and Edmonton.

In 2020, BioLife Solutions announced the execution of a co-development and license agreement with PanTHERA aimed at supporting product development of a novel and disruptive small molecule platform technology that inhibits ice crystal growth and protects cell-based products from the damaging effects of freezing and thawing. This successful partnership resulted in PanTHERA’s launch of the GMP-compliant KryoAegis™ product in March 2024. BioLife’s acquisition of PanTHERA will now enable the companies to bring their synergistic collaboration of products and expertise to the next level.

“Joining BioLife is an exciting milestone for PanTHERA. We share a common vision and see enormous opportunity combining our novel technology with BioLife’s industry-leading cryopreservation products,” said Dr. Jason Acker, Co-Founder and Chief Executive Officer of PanTHERA CryoSolutions.

“Our novel product is an enabling technology which may alleviate some of the current challenges in cryoprotection, including toxicity, impaired post-thaw recovery and function, and the need for liquid nitrogen for long-term storage,” said Dr. Robert Ben, Co-Founder and Chief Scientific Officer of PanTHERA CryoSolutions. “We are extremely proud of the scientific and technical achievements behind our product, and believe that working alongside BioLife’s world-class team, it will drive innovations that can improve patient health.”

PanTHERA has developed and launched its first-generation Ice Recrystallization Inhibitor (IRI) technology and is working on next-generation molecules designed to complement BioLife’s cryopreservation products. These formulations are expected to launch within 18 months and offer potential improvements, such as superior cryopreservation for certain biological constructs, lower DMSO concentrations, and reduced reliance on liquid nitrogen in cold chain logistics and long-term storage.

Transaction terms include BioLife purchasing the remaining 90% of PanTHERA shares for $9.3 million in cash and 241,355 shares of BioLife common stock, with potential additional shares based on the achievement of certain milestones.

To read the full press releases, visit PanTHERA and BioLife. 

Related news: 

• GlycoNet researchers develop ‘ice inhibitors’ to protect cells during cryopreservation
• GlycoNet and PanTHERA CryoSolutions’ Journey: From Bench to Bedside