
Repligen Acquires Swedish Company Bolstering Fluid Management Offering to Bioprocessing Customers
Repligen Corporation, a leading life sciences company specializing in bioprocessing technology, has announced its acquisition of Metenova AB, a Swedish innovator in fluid management technology, particularly magnetic mixing and drive train solutions used extensively by global biopharmaceutical companies and contract development and manufacturing organizations (CDMOs). The move aims to bolster Repligen’s Fluid Management portfolio and enhance its single-use bag offerings.
Metenova is expected to generate revenues ranging from $24 million to $25 million in fiscal year 2023, primarily driven by the success of its magnetic mixing and drive train technologies, including the recently launched MixOne platform for single-use mixing. Repligen anticipates Metenova will contribute approximately $5 million in revenue for the fourth quarter of 2023 and $25 million to $27 million in revenue in 2024, with projected revenue growth of 20% to 25% in 2025 and beyond. This acquisition is expected to improve Repligen’s adjusted gross and operating margins in 2024, with accretive effects on adjusted earnings per share expected in 2025.
Metenova has achieved market leadership through its innovative magnetic mixing solutions, offering a range of products tailored for various applications, including media and buffer preparation, as well as gentle mixing of sensitive proteins. These aseptic mixing technologies aim to minimize product damage, enhance yield, and ensure product consistency, ultimately benefiting customers with improved return on investment (ROI). The solutions are applicable to a wide array of therapeutics and vaccines, including monoclonal antibodies, recombinant proteins, and cell and gene therapies.
Repligen’s President and CEO, Tony J. Hunt, expressed excitement about the addition of Metenova, emphasizing that it strengthens Repligen’s Fluid Management portfolio and complements its recent acquisition of the single-use bag business from FlexBiosys. The company looks forward to integrating Metenova’s magnetic mixing technologies into its product portfolio.
The acquisition is expected to conclude in the coming weeks, subject to customary closing conditions. It will involve a combination of cash and equity, with Repligen planning to utilize a portion of its existing cash reserves for the cash component of the transaction.
This deal marks Repligen’s first major acquisition since Avitide in September 2021. The company also recently announced an agreement to acquire FlexBiosys Inc. of Branchburg, NJ, which further bolstered their fluid management offering. However, Repligen did not provide details given the immateriality.