MENLO
PARK, Calif. and MADISON, Wis.,
May 23,
2024 /PRNewswire/ -- Gamma Biosciences, a life
sciences platform established by KKR to address the advanced
therapy bioprocessing market, today announced that it has entered
into an agreement with Merck KGaA, Darmstadt, Germany (XTRA:MRK), a leading science and
technology company, whereby Merck KGaA, Darmstadt, Germany, will acquire Gamma operating company
Mirus Bio for $600 million in
cash.
Mirus Bio is a leading provider of innovative transfection
solutions used for the delivery of genetic material into cells. The
company offers a comprehensive portfolio of RUO and GMP reagents
and enhancers based on proprietary, multi-component technology. Its
products deliver high-performance and cost-effective transfection
for a variety of applications, from research through virus
manufacturing at scale to address rapidly growing cell and gene
therapy applications in AAV & LV.
Gamma acquired a controlling stake in Mirus Bio in 2021 and has
worked closely with the company to support its growth and scale-up,
including the launch of flagship products VirusGEN® GMP and RevIT™
AAV Enhancer for large-scale therapeutic adeno-associated virus and
lentivirus production.
"Over the last several years, we have had the pleasure of
supporting Dale and the team at Mirus as they have worked to make
these best-in-class transfection products available to cell and
gene therapy developers while maintaining the company's
long-standing commitment to the research community" said
Matt Gunnison, CEO of Gamma
Biosciences. "We are very proud of the progress that Mirus has made
and are delighted that it will now become part of Merck KGaA,
Darmstadt, Germany, who we believe
is the ideal partner to continue this strong trajectory."
Dale Gordon, Chief Executive
Officer of Mirus Bio, added "With the support of Gamma Biosciences
and KKR, we have commercialized our scalable GMP delivery platforms
for clinical use and significantly strengthened our position in the
cell and gene therapy market. I look forward to this new era with
Merck KGaA, Darmstadt, Germany, as
we continue to expand our GMP portfolio with relevant, cutting-edge
tools our customers need to develop affordable, life-saving
advanced therapies."
"Gamma's investment in Mirus Bio reflects KKR's commitment to
driving innovation in the life sciences sector," said Kugan
Sathiyanandarajah, Partner at KKR and Head of Europe for KKR's Health Care Strategic Growth
strategy, and Anuv Ratan, Director at KKR. "The advancements
achieved together with the Mirus team, from scaling commercial
operations to launching new product lines, further underscore the
strong value-creation potential of our strategic approach."
The transaction is expected to be completed in the third quarter
of 2024, subject to US regulatory approvals, as well as other
customary closing conditions. Jefferies LLC acted as financial
advisor to Gamma and Sidley Austin LLP acted as legal advisors to
Gamma.
About Gamma Biosciences
Gamma Biosciences is a leading life sciences platform providing
products and services to support the development and manufacturing
of advanced biologic therapies. Our operating companies are
committed to advancing the science and art of bioprocessing by
delivering market-ready innovation and expertise that helps our
customers.
About Mirus Bio
Mirus Bio is a leading provider of transfection products for the
biopharmaceutical and research industries, offering best-in-class
reagents for gene therapy, recombinant protein, and stem cell
applications. A pioneer in nucleic acid delivery, the company has
been enabling scientific research and innovation for more than two
decades. In 2021, Mirus introduced VirusGEN® GMP Transfection
Reagent and Enhancers to address the commercial biopharmaceutical
and cell and gene therapy markets with support for virus
manufacturing, gene editing, and biotherapeutic protein
production.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and supporting growth in its portfolio
companies and communities. KKR sponsors investment funds that
invest in private equity, credit and real assets and has strategic
partners that manage hedge funds. KKR's insurance subsidiaries
offer retirement, life and reinsurance products under the
management of Global Atlantic Financial Group. References to KKR's
investments may include the activities of its sponsored funds and
insurance subsidiaries. For additional information about KKR &
Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com.
For additional information about Global Atlantic Financial Group,
please visit Global Atlantic Financial Group's website at
www.globalatlantic.com.
Media Contacts
Mirus Bio
Nat
Connors
Mobil: +608 867-6465
E-Mail: nat.connors@mirusbio.com
KKR
FGS Global
Alastair Elwen
+44 20 7251 3801
KKR-Lon@FGSGlobal.com
KKR Germany
Thea Bichmann
M: +49 172 13 99 761
kkr_germany@fgsglobal.com
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SOURCE Gamma Biosciences