NEW YORK — Maravai LifeSciences said on Friday that it has acquired nucleotide manufacturer MyChem for $240 million in cash, with the potential for additional cash consideration based on the achievement of certain conditions after closing.
San Diego-based MyChem provides modified nucleotides and other reagents used in mRNA synthesis for the diagnostics, pharmaceutical, genomics, and research markets. Maravai said that the acquisition will bolster its portfolio of nucleic acid production products and accelerate its R&D capabilities.
Maravai plans to integrate MyChem into its TriLink and nucleic acid production business segment. Additional terms of the transaction were not disclosed.
"MyChem provides critical raw materials for our CleanCap AG and mRNA production and has been a reliable supply partner," Brian Neel, Maravai's chief operating officer, said in a statement. "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 US and our push to have an end-to-end offering for our customers."
Maravai, also based in San Diego, was founded in 2014 by private equity firm GTCR and former Gen-Probe executives. In November, the company reported a 133 percent increase in third quarter revenues to $204.8 million, which were primarily generated by its nucleic acid production operations.