Medical
GlobeNewswire | September 28, 2023
Repligen Corporation a life sciences company focused on bioprocessing technology leadership, announced that it has entered into a definitive agreement to acquire privately-held Metenova AB (Metenova) of Mölndal, Sweden. Metenova is projected to generate revenues of $24 million to $25 million for fiscal year 2023, led by the success of its magnetic mixing and drive train technologies that are widely used by global biopharmaceutical companies and contract development and manufacturing organizations (CDMOs). The company recently entered the single-use mixing market with the launch of its MixOne platform, leveraging the success of its existing stainless steel (repeat-use) product line.
Metenova is expected to contribute approximately $5 million in revenue to Repligen in the fourth quarter of 2023, and to contribute $25 million to $27 million in revenue in 2024, with 20%-25% revenue growth in 2025 forward. The acquisition is anticipated to be accretive to Repligen’s adjusted gross and operating margins in 2024, and to be accretive to adjusted earnings per share in 2025.
Over the past decade, Metenova has established market leadership through design innovation in magnetic mixing, with a state-of-the-art suite of both stainless steel and single-use impellers (mixer heads) and drive trains – key components of mixing vessels. The company offers a broad range of products, including high power solutions for efficient media and buffer preparation, and low shear solutions for gentle mixing of sensitive proteins. Metenova’s high performance aseptic mixing technologies are designed to minimize product damage and improve product yield and product consistency, contributing to improved ROI for customers. The company’s solutions are applicable to a wide range of small molecule and large molecule therapeutics and vaccines, including monoclonal antibodies, recombinant proteins, and cell and gene therapies.
Tony J. Hunt, President and Chief Executive Officer at Repligen said, “The addition of Metenova further strengthens our Fluid Management portfolio, with a product line that expands on the market success of our systems and fluid management assemblies and complements our recently acquired single-use bag business from FlexBiosys. We are excited to welcome the Metenova team to Repligen and we look forward to further developing and integrating their differentiated magnetic mixing technologies into our portfolio.”
Johan Westman, Chief Executive Officer at Metenova said, “We have made tremendous progress over the last ten years, building a market leading mixing portfolio. We are now at a stage in our development where we can benefit from more rapid expansion into the single-use market where many of our customers are scaling today. Repligen is the ideal partner for us to take this next step of growth and we look forward to working with our colleagues at Repligen to drive additional global demand for our single-use mixing products, while continuing to advance innovative single-use solutions for the industry.”
About Metenova AB
Metenova is a leading innovator and manufacturer of magnetic mixers for pharmaceutical and biotechnology use. We provide aseptic cutting-edge mixing technology for critical applications. Sales are mainly performed by distributors in over 30 countries with approximately one-third of sales in North America, one-third of sales in Europe and one-third of sales in Asia/ROW. Metenova recently entered the single-use mixing market with the launch of its MixOne platform, leveraging the success of its existing repeat-use (stainless steel) product line. Metenova is headquartered in Mölndal in the Gothenburg area and has approximately 50 employees.
About Repligen Corporation
Repligen Corporation is a global life sciences company that develops and commercializes highly innovative bioprocessing technologies and systems that enable efficiencies in the process of manufacturing biological drugs. We are “inspiring advances in bioprocessing” for the customers we serve; primarily biopharmaceutical drug developers and contract development and manufacturing organizations (CDMOs) worldwide. Our focus areas are Filtration and Fluid Management, Chromatography, Process Analytics and Proteins. Our corporate headquarters are in Waltham, Massachusetts, and the majority of our manufacturing sites are in the U.S., with additional key sites in Estonia, France, Germany, Ireland, the Netherlands and Sweden.
Read More
Cell and Gene Therapy
prnewswire | September 14, 2023
Ceres Nanosciences, a global leader in developing wastewater testing methods based on its Nanotrap® technology, and Ginkgo Bioworks which is building the leading platform for cell programming and biosecurity, today announced that they are partnering to bring pathogen monitoring capabilities to laboratories around the world. Pathogen monitoring and analysis capabilities, including in wastewater, are designed to help public health institutions address regional biosecurity challenges.
Supported by the NIH RADx Initiative, Ceres developed their Nanotrap technology for robust, sensitive, and time-saving methods to detect a wide range of pathogens in wastewater samples and has deployed those methods to a network of testing sites in the United States. These sites provide wastewater testing services nationwide to deliver valuable public health data, such as information about the relative abundance of COVID-19 variant groups over time in a community's wastewater, to the CDC's National Wastewater Surveillance System and to state, local, and Tribal decision makers.
Recently, Concentric by Ginkgo, the biosecurity unit of Ginkgo Bioworks, as part of a CDC program, demonstrated in a study with partners from XPresCheck and Louisiana State University that coupling Ceres' aircraft wastewater testing methods with Concentric's analysis can enable early detection of variants of SARS-CoV-2. San Francisco International Airport was the first airport to announce that it will continuously monitor airplane wastewater samples as part of a CDC program operated by Concentric and XpresCheck.
Under the partnership between Ceres and Concentric, labs in countries where Concentric has biosecurity programs receive on-site training and the materials needed to implement the standardized and proven wastewater testing workflow from Ceres. Labs also receive biosecurity tools and data infrastructure to leverage automation, data analysis, bioinformatics capabilities, and other critical genomic sequencing technologies.
Together, Ceres and Concentric have set up labs in the Middle East and Africa through this collaboration, offering a cutting-edge approach to biosurveillance technologies and capacity building for labs around the world that are part of Concentric's global pathogen monitoring network.
"Under our NIH RADx Initiative, we demonstrated that we can quickly stand up improved wastewater testing capabilities for labs that are experts or novices in the space," said Robbie Barbero, Chief Business Officer at Ceres Nanosciences. "We are delighted now to be partnering with a global leader like Concentric to build a robust public health framework worldwide."
"Ceres Nanosciences has been a terrific partner in developing effective and innovative methods for identifying pathogens in wastewater," said Matt McKnight, General Manager, Biosecurity at Ginkgo Bioworks. "By combining their laboratory expertise with our global footprint, we are building a robust global biological radar to prevent, detect, and respond to biological threats."
About Ceres Nanosciences, Inc.
Ceres Nanosciences is a privately held company, located in Northern Virginia, focused on incorporating its proprietary Nanotrap® particle technology into a range of diagnostic and research use products and workflows. Nanotrap particles capture, concentrate, and preserve low abundance analytes from biological samples, enabling early and accurate detection of diseases. The Nanotrap particle technology was developed with support from the National Institutes of Health, the Defense Advanced Research Projects Agency, the Bill and Melinda Gates Foundation, Schmidt Futures, the Defense Threat Reduction Agency, the Centers for Disease Control and Prevention, and the Commonwealth of Virginia.
About Ginkgo Bioworks
Ginkgo Bioworks is the leading horizontal platform for cell programming, providing flexible, end-to-end services that solve challenges for organizations across diverse markets, from food and agriculture to pharmaceuticals to industrial and specialty chemicals. Ginkgo's biosecurity and public health unit, Concentric by Ginkgo, is building global infrastructure for biosecurity to empower governments, communities, and public health leaders to prevent, detect and respond to a wide variety of biological threats.
Read More
Medical
globenewswire | September 12, 2023
Nurix Therapeutics, Inc. a clinical stage biopharmaceutical company developing targeted protein modulation drugs designed to treat patients with hematologic malignancies and solid tumors, today announced that it has entered into a multi-year, multi-target strategic collaboration agreement with Seagen Inc. to advance a new class of medicines called Degrader-Antibody Conjugates (DACs) for use in cancer. The collaboration between the two companies will focus on an innovative approach to combine two powerful technologies to target cancer—antibody-drug conjugation (ADC) and targeted protein degradation (TPD)—with the goal of creating drugs with new mechanisms of action as well as improved specificity and anti-cancer activity.
“By combining the tissue and tumor specificity of antibodies with highly potent and catalytic targeted degradation of cancer driver proteins, we believe that DACs may represent a next generation of cancer medicine for a wide range of solid tumors and hematologic malignancies,” said Arthur T. Sands, M.D., Ph.D., president and chief executive officer of Nurix. “With Seagen, our strategic goal is to advance ADC technology to the next level to provide patients with new DAC drugs that deliver greater anti-tumor efficacy and safety compared to currently available agents.”
“The targeted protein degrader modality provides unique advantages over payloads currently employed across the ADC field,” said Gwenn M. Hansen, Ph.D., chief scientific officer of Nurix. “This collaboration is a new application of our DELigase technology, and we are delighted to work with Seagen, a pioneer in the development and commercialization of ADC therapeutics, to create a new generation of drugs to fight cancer.”
Under the terms of the agreement, Nurix will receive an upfront payment of $60 million and has the potential to receive up to approximately $3.4 billion in research, development, regulatory and commercial milestone payments across multiple programs. In addition, Nurix will be eligible for mid-single to low double digit tiered royalties on future sales, and Nurix retains an option for U.S. profit sharing and co-promotion on two products arising from the collaboration. As part of the multi-year collaboration, Nurix will use its proprietary DELigase platform to develop a suite of targeted protein degraders against multiple targets nominated by Seagen that are suitable for antibody conjugation. Seagen will be responsible for conjugating these degraders to antibodies to make DACs and advancing these DAC drug candidates through preclinical and clinical development and commercialization. Given the potential to conjugate multiple antibodies to unique degraders, several DAC drugs may be developed and commercialized within this collaboration.
With the receipt of the $60 million upfront payment, Nurix expects that its existing cash, cash equivalents and marketable securities, excluding any future potential milestones from collaborations, will be sufficient to fund its operating activities into the second quarter of 2025.
About Nurix Therapeutics, Inc.
Nurix Therapeutics is a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of innovative medicines based on the modulation of cellular protein levels as a novel treatment approach for cancer and other challenging diseases. Leveraging extensive expertise in E3 ligases together with proprietary DNA-encoded libraries, Nurix has built DELigase, an integrated discovery platform, to identify and advance novel drug candidates targeting E3 ligases, a broad class of enzymes that can modulate proteins within the cell. Nurix’s drug discovery approach is to either harness or inhibit the natural function of E3 ligases within the ubiquitin-proteasome system to selectively decrease or increase cellular protein levels. Nurix’s wholly owned, clinical stage pipeline includes targeted protein degraders of Bruton’s tyrosine kinase, a B-cell signaling protein, and inhibitors of Casitas B-lineage lymphoma proto-oncogene B, an E3 ligase that regulates activation of multiple immune cell types including T cell and NK cells. Nurix is headquartered in San Francisco, California.
Read More