Repligen Announces Agreement to Acquire Chromatography Innovator Tantti
- Proposed acquisition adds novel macroporous chromatography base bead technology for downstream bioprocess applications
- Accelerates expansion into new modality markets with a unique, scalable purification solution
- Strongly synergistic with AVIPure® affinity ligands and OPUS® pre-packed chromatography columns
WALTHAM, Mass., July 29, 2024 (GLOBE NEWSWIRE) -- Repligen Corporation (NASDAQ:RGEN), a life sciences company focused on bioprocessing technology leadership, today announced that it has entered into a definitive agreement to acquire privately-held Tantti Laboratory Inc. ("Tantti") of Taoyuan City, Taiwan. Tantti has developed a unique portfolio of macroporous chromatography beads to optimize the purification of new modalities including viral vectors, viruses, nucleic acids and other large molecule biologics.
Tantti's DuloCore® technology platform combines the high throughput performance of membranes with the rapid mass transfer of monoliths in a convenient and flexible bead format. Combined with AVIPure affinity ligands, the technology will provide additional performance advantages such as molecule selectivity, and increased efficiencies to address downstream bottleneck challenges and scalability concerns of manufacturers. The resins can be pre-packed for customers into Repligen's OPUS Columns, where the company offers the industry's widest range of sizes for scalability and efficiency.
Tony J. Hunt, Chief Executive Officer at Repligen said, "The addition of Tantti further strengthens our portfolio in the new modality space. Combining Tantti's innovative bead technology with the content we are generating from Avitide will be game-changing. The industry needs high throughput and high-capacity purification products, and Tantti is the solution to delivering on this. We are excited to welcome the Tantti team to Repligen, and we look forward to further developing and integrating their differentiated technology into our portfolio."
Joe Yang, Chief Executive Officer at Tantti said, "We have been working with Repligen for a few years now and we are thrilled to combine the power of Tantti's bead technology with the capabilities of Avitide and to leverage the commercial strength of Repligen to make DuloCore the gold-standard in the marketplace for new modality purification. 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 accelerate our market presence in bioprocessing."
The acquisition is expected to be completed in the fourth quarter of this year. The deal is anticipated to be breakeven on adjusted margins and adjusted earnings per share (EPS) in 2025 and accretive to adjusted margins and adjusted EPS in 2026.
Approvals and Financing
The transaction is expected to be completed by year end 2024, subject to the satisfaction of customary closing conditions, including clearance through the Taiwanese regulatory channel. EC Mergers & Acquisitions is acting as financial advisor and Goodwin Procter LLP and Tsar & Tsai Law Firm are serving as legal counsel to Repligen. O'Melveny & Myers LLP and LCS & Partners are serving as legal counsel to Tantti for the transaction.
About Tantti Laboratory Inc.
Tantti Laboratory Inc. is a biomaterials engineering company developing bioprocessing solutions for use in the development and production of innovative biologic products and advanced cell and gene therapies. Its key product technology platforms include DuloCore, a new class of convective chromatography bead resin designed for the purification of large biomolecules (e.g., viral vectors, nucleic acids, and viruses). Founded in 2014 and based in Taiwan, Tantti's technologies have received patent approval around the world, including in the United States, Europe, Japan, Taiwan and China. Visit https://www.tantti.com to learn more.
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. For more information about the company see our website at www.repligen.com, and follow us on LinkedIn.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, express or implied statements or guidance regarding the expected results of the proposed acquisition of Tantti Laboratory Inc. ("Tantti") on Repligen's future financial performance, including the accretive nature and the timing of the accretive nature of the acquisition, expected synergies and revenue contribution following the closing of the Tantti acquisition, customer adoption of Tantti products and beliefs about the single-use market, the expected expansion of Repligen's product lines, and other statements identified by words like "believe," "expect," "anticipate," "may," "will," "should," "targeted," "seek," or "could" and similar expressions, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with: the risk that the proposed acquisition may not be completed in a timely manner, or at all; the occurrence of any event, change or other circumstance that could give rise to the termination of the acquisition; Repligen's ability to integrate Tantti's business and personnel and to achieve expected synergies and accretion; Repligen's ability to maintain or expand Tantti's historical sales; Repligen's ability to accurately forecast the acquisition, related costs and allocation of the purchase price, goodwill and other intangibles acquisition related and other asset adjustments; and other risks detailed in Repligen's most recent Annual Report on Form 10-K subsequently filed Quarterly Reports on Form-10-Q and Current Reports on Form 8-K on file with the Securities and Exchange Commission, and the other reports that Repligen periodically files with the Securities and Exchange Commission. Actual results may differ materially from those Repligen contemplated by these forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. These forward-looking statements reflect management's current views and are based only on information currently available to us. Repligen does not undertake to update, whether written or oral, any of these forward-looking statements to reflect a change in its views or events or circumstances, whether as a result of new information or otherwise, that occur after the date hereof except as required by law. The industry and market data contained in this presentation are based on management's own estimates, independent publications, government publications, reports by market research firms or other published independent sources, and, in each case, are believed by management to be reasonable estimates. Although we believe these sources are reliable, we have not independently verified the information.
Tantti Contact:
Steve Wang
Financial Advisor to Tantti
+886 9 19456003
[email protected]
Repligen Contact:
Sondra S. Newman
Global Head of Investor Relations
(781) 419-1881
[email protected]
