ALBUQUERQUE, N.M. — Seattle-based BioLife Solutions plans to acquire full control of SAVSU Technologies, an Albuquerque startup that makes thermal shipping containers for frozen cells and genes.
The deal, announced Monday morning by BioLife Solutions, is expected to close in 45 days. BioLife, a public company that trades on the NASDAQ, already owns 44 percent of SAVSU stock and has an exclusive option to purchase all outstanding shares. BioLife will now acquire the 56 percent in remaining SAVSU stock it doesn’t currently own in exchange for 1.1 million shares of BioLife common stock.
SAVSU operations will remain in Albuquerque, where it designs, engineers and manufactures its thermal shipping containers at a 10,000-square-foot facility in the north I-25 industrial corridor near Jefferson and Osuna.