I doubt Thermo is acquiring Life specifically for their gel...

I doubt Thermo is acquiring Life specifically for their gel business. Nusep may well be 'too small' for Thermo and they had access to the products of interest anyway hence there is no driver for acquisition. Also, as far as I am aware, Thermo isn't in the blood fractionation business which is ultimately what is underpinning the share price of NSP.

What is a little strange however is that NSP hasn't attracted a partnership with a large blood fractionation company. If the technology can deliver to its promise you would expect these guys to want to be part of this.

What also surprises me is the absence of scientific publications validating the technology for this application. Sure these things take a long time to publish and you want to give the company enough time to file patents before disclosing anything sensitive but if the technology is as disruptive as is claimed, by now you would expect some proper peer reviewed publications in world leading journals and the company to shout this of the roof tops.