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Maravai LifeSciences Completes $50M Debt Financing

NEW YORK (GenomeWeb) – Maravai LifeSciences said today that it has completed a new debt financing that will lower the interest rate on its existing debt and provide the company with an additional $50 million in capital.

Maravai, based in San Diego, said it will use the new funds to support growth in its three life science segments: bioprocess impurity testing, oligonucleotide synthesis, and protein detection.

JP Morgan led the debt financing along with Antares Capital and Carlyle Global Credit.

Maravai portfolio companies include Vector Laboratories, which develops reagents for protein labeling and detection; Cygnus Technologies, which provides products for detecting impurities in biotherapeutic development; TriLink Biotechnologies, which provides highly modified nucleic acids for cellular and molecular biology; and Glen Research, which sells reagents to produce DNA and RNA oligonucleotides.