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Maravai LifeSciences Holdings, Inc. (symbol: MRVI) is a leading life sciences company dedicated to advancing human health by providing specialized products and services to support the development of drug therapies, diagnostics, and novel vaccines. Formed in March 2014 through a partnership with GTCR, a private equity firm, Maravai LifeSciences has built a portfolio of successful, entrepreneurial life science companies.
Maravai’s portfolio companies are spearheading innovations in life sciences research and bioproduction, offering enabling tools and services that facilitate breakthroughs in genomics, proteomics, and biotherapeutic development. The company’s core business includes two primary segments: Nucleic Acid Production and Biologics Safety Testing. A significant portion of Maravai's revenue is generated from Nucleic Acid Production, which involves the manufacturing and sale of nucleic acid products essential for research and the development of vaccines and therapies.
Maravai LifeSciences has acquired four market-leading companies to date, enhancing its portfolio of products and services. Notably, Vector Laboratories is recognized for its labeling and detection products used in immunohistochemistry and immunofluorescence. Another key entity, TriLink BioTechnologies, continues to advance the field with its innovative solutions.
Recent achievements and ongoing projects underscore Maravai’s commitment to growth and innovation. The company remains focused on expanding its product portfolio, maintaining market leadership, and driving scientific advancements. The latest financial results highlight Maravai's robust performance, with continued revenue growth and strategic investments in new areas of research and development.
Maravai LifeSciences is actively engaged in discussions and presentations at prominent investor forums, such as the KeyBanc Capital Markets Life Sciences and MedTech Investor Forum and the RBC Healthcare Conference, showcasing its leadership and strategic direction. These events provide valuable insights into Maravai’s ongoing initiatives and future outlook.
For more detailed information about Maravai LifeSciences, including recent news and updates, visit the Maravai LifeSciences website.
Maravai LifeSciences (NASDAQ: MRVI) has postponed its previously announced Q4 and full year 2024 earnings release and conference call originally scheduled for February 25, 2025. The company will file a Form 12b-25 with the SEC to delay its annual 10-K report for the fiscal year ended December 31, 2024.
Maravai intends to hold the postponed earnings call and file the 2024 Form 10-K by March 18, 2025, before the expiration of the automatic 15-day extension from the original March 3, 2025 due date.
The delay is attributed to three main factors: (1) additional time needed to assess a potential non-cash goodwill impairment charge related to the Alphazyme acquisition; (2) assessment of a revenue recognition error involving approximately $3.9 million recorded in Q2 2024 that should have been recorded in Q3 2024; and (3) time required to complete assessment of disclosure controls and internal controls over financial reporting, including remediation of a material weakness in revenue recognition controls.
Despite these issues, Maravai still expects full-year 2024 revenue to be near the mid-point of its previously announced guidance range of $255.0-265.0 million.
Maravai LifeSciences (NASDAQ: MRVI) has completed its acquisition of Officinae Bio's DNA and RNA business. This acquisition integrates Officinae Bio's AI-enabled mRNA design platforms with Maravai and TriLink BioTechnologies' drug substance manufacturing capabilities, offering comprehensive expertise and novel technologies. This integration aims to accelerate the mRNA sequence-optimization phase and advance clinical testing and commercial manufacturing.
Officinae Bio, based in Venice, Italy, uses a proprietary digital platform to speed up mRNA drug candidate prototyping, facilitating rapid testing of diverse combinations of capping analogs, chemical modifications, and sequence designs. The acquisition will enhance Maravai's capabilities in next-generation medicines, particularly in mRNA and CRISPR, leveraging proprietary technologies like CleanCap® analogs.
This move also marks Maravai's entry into the European market with a manufacturing footprint, expected to drive growth across multiple product lines. Officinae Bio's CEO, Davide De Lucrezia, will continue to lead the team within Maravai’s Nucleic Acid Production segment.
TriLink BioTechnologies, a Maravai LifeSciences (NASDAQ: MRVI) company, has entered into a non-exclusive License and Supply Agreement with Aldevron for CleanCap® mRNA capping technology. The agreement allows Aldevron to use TriLink's patented CleanCap® analogs in mRNA development and manufacturing services through Phase III programs.
The agreement covers CleanCap® M6, CleanCap® AG 3'OMe, CleanCap® AG, and CleanCap® AU cap analogs. The CleanCap® technology delivers optimal 5'Cap structures with over 95% efficiency, improving mRNA yield and process time compared to traditional methods. The technology has been used in over 350 preclinical and clinical programs and is featured in most approved COVID-19 mRNA and saRNA vaccines.
Notably, the recently introduced CleanCap® M6 (May 2023) has demonstrated increased mRNA expression by more than 30% compared to enzymatic capping methods.
TriLink BioTechnologies, a Maravai LifeSciences company (NASDAQ: MRVI), has announced a strategic partnership with Avantor, Inc. (NYSE: AVTR) to expand its nucleic acid products distribution across Europe, Middle East, and Africa (EMEA). The collaboration aims to streamline ordering processes and reduce lead times for European customers.
The partnership will increase accessibility to TriLink's product portfolio, including CleanCap® cap analogs, catalog mRNAs, modified and unmodified nucleotides, and CleanScribe® RNA Polymerase. These products will be available for research use only (RUO) or at GMP-grade through VWR's eCommerce platform, MarketSource.
TriLink, with over 25 years of experience in nucleic acid development, offers CDMO services and specializes in mRNA capping analogs, including CleanCap® M6, mRNA raw materials, and advanced scale-up capabilities.
Maravai LifeSciences (NASDAQ: MRVI) has announced the acquisition of intellectual property and assets from Molecular Assemblies (MAI), focusing on their proprietary Fully Enzymatic Synthesis technology. This strategic move aims to enhance mRNA and oligonucleotide manufacturing capabilities within the TriLink BioTechnologies business.
The acquisition will expand Maravai and TriLink's ability to support customers in developing next-generation mRNA and CRISPR nucleic acid-based therapies. The company plans to integrate MAI's enzymatic DNA synthesis platform to improve oligo length and purity while reducing costs through vertical integration of NTPs and enzymes from their TriLink and Alphazyme businesses.
TriLink plans to incorporate DNA template manufacturing in their mRNA business and expand custom oligo offerings to support gene assembly, antibody screening, and CRISPR HDR donor workflows.
Maravai LifeSciences (NASDAQ: MRVI) has released preliminary unaudited revenue expectations for 2024, projecting figures near the mid-point of their previously announced guidance range of $255.0 million to $265.0 million. The company plans to announce its fourth quarter and full year 2024 financial results after market close on February 25, 2025, followed by a conference call at 2:00 p.m. PT/ 5:00 p.m. ET.
The company notes that these preliminary results are subject to year-end closing adjustments and audit procedures, and actual results may differ due to inherent business risks and developments during the financial closing process.
Maravai LifeSciences (NASDAQ: MRVI) announced that Carl Hull will retire as Executive Chairman of the Board, with R. Andrew Eckert unanimously elected as the new Chairman, effective December 5, 2024. Hull, who founded Maravai in 2014 and served as CEO before becoming Executive Chairman in October 2022, expressed pride in the company's achievements over the past decade.
Eckert, described as a healthcare industry veteran, brings extensive experience as an executive officer of several healthcare companies, with expertise in operations, strategic planning, product development, and marketing. The appointment aims to leverage his executive experience to guide Maravai's growth and drive long-term shareholder value.
Maravai LifeSciences (NASDAQ: MRVI), a global provider of life science reagents and services, has announced its participation in two major investor conferences in November 2024. The company's executives will participate in fireside chats at the Stifel Healthcare Conference in New York on November 19 and the Jefferies Healthcare Conference in London on November 21. Both presentations will be available via live webcast on the company's Investor Relations website, with archived versions accessible after the events.
Maravai LifeSciences (NASDAQ: MRVI) has signed an agreement to acquire Officinae Bio's DNA and RNA business. The acquisition aims to enhance Maravai's mRNA manufacturing capabilities within TriLink BioTechnologies. Officinae Bio, based in Venice, Italy, offers a proprietary digital platform for therapeutic biological design, enabling rapid mRNA candidate prototyping. The deal will complement Maravai's nucleic acid production services and is expected to close in early 2025. The integration will strengthen TriLink's position as an expert in mRNA design, customization, and manufacturing, while incorporating AI-enabled methodologies for nucleic manufacturing.
Maravai LifeSciences (NASDAQ: MRVI) reported Q3 2024 financial results with revenue of $65.2 million, representing a 2.5% decrease year-over-year. The company posted a net loss of $(176.0) million, including a goodwill impairment of $154.2 million, and Adjusted EBITDA of $12.7 million. Revenue guidance for full-year 2024 was updated to $255.0-265.0 million.
The company announced an agreement to acquire Officinae Bio's DNA and RNA business, expected to close in early 2025. Notable achievements include launching CleanScribe™ RNA Polymerase, commencing their first mRNA Phase II clinical trial contract, and strengthening their CleanCap® patent portfolio.
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