Business
Maravai LifeSciences Acquires MyChem, a Leader in Proprietary Ultra-Pure Nucleotides
MyChem’s nucleotide synthesis methods are highly complementary to Maravai’s TriLink mRNA technologies Increases capabilities serving the high-growth cell and
About this update from Maravai Lifesciences Holdings, Inc.
[{"type":"text","content":"MyChem’s nucleotide synthesis methods are highly complementary to Maravai’s TriLink mRNA technologies Increases capabilities serving the high-growth cell and gene therapy market SAN DIEGO, Jan. 28, 2022 (GLOBE NEWSWIRE) -- Maravai LifeSciences, Inc. (NASDAQ: MRVI), a global provider of life science reagents and services to researchers and biotech innovators, announced today that it has acquired MyChem, LLC for $240 million in cash at closing with the potential for additional contingent cash consideration based on achievement of certain conditions after closing. The acquisition will expand Maravai’s product offering of strategic inputs in the rapidly growing markets for therapeutics and vaccine applications. Based in San Diego, California, MyChem is a privately held provider of proprietary, ultra-pure nucleotides to customers in the diagnostics, pharma, genomics and research markets. Their products include modified nucleotides and other inputs used for mRNA synthesis. MyChem’s portfolio complements Maravai’s nucleic acid production products and is expected to provide customers significant benefits through an integrated offering. Further, MyChem will help accelerate Maravai’s innovation capabilities with additional R&D resources. “MyChem’s chemically synthesized nucleotides are a natural fit and complementary product line for our Nucleic Acid Production business,” said Carl Hull, Chief Executive Officer of Maravai. “We have worked with MyChem since 2018 and have the highest regard for the founders and the team they have built and believe there is a close alignment of company cultures. Similar to our past acquisitions, MyChem is founder-led with exceptional science in place where we can help scale the organization and accelerate growth.” Brian Neel, Chief Operating Officer, Nucleic Acid Production added, \"MyChem provides critical raw materials for our CleanCap® AG and mRNA production and has been a reliable supply partner. This acquisition continues our path to build and integrate strategic inputs of the mRNA vaccine and therapeutic supply chain into our operations here in the U.S. and our push to have an end-to end offering for our customers. MyChem’s state-of-the-art method for developing ultra-pure nucleotides helps to solve key customer needs not currently addressed by standard, enzymatic manufacturing. We look forward to welc...