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BioLife Solutions ups stake in Savsu Technologies with $5M investment

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BioLife Solutions ups stake in Savsu Technologies with $5M investment

BioLife Solutions Inc. made a $5 million investment in Savsu Technologies Inc., increasing its ownership stake in the company to about 44% from 31%.

Albuquerque, N.M.-based Savsu Technologies manufactures hardware and software solutions designed to protect live cell therapies during transport and storage. The company will use the investment to upscale its operations and inventory.

The investment deal gives Bothell, Wash.-based BioLife an 18-month option to purchase the remaining stake in Savsu not already owned by the company by either issuing 1 million of its stock or shares worth $23 million, whichever is greater.