Repligen Announces Agreement to Acquire Engineered Molding Technology
June 29 2020 - 07:30AM
Repligen Corporation (NASDAQ:RGEN), a life sciences company focused
on bioprocessing technology leadership, today announced that it has
entered into an agreement to acquire Albany, New York based
Engineered Molding Technology (“EMT”), an innovator and
manufacturer of single-use silicone assemblies and components used
in the manufacturing of biologic drugs. EMT’s standard and custom
molded and over-molded connectors and silicone tubing products are
key components in single-use filtration and chromatography systems.
Tony J. Hunt, President and CEO of Repligen, said, “The
acquisition of EMT expands our line of single-use ProConnex® flow
paths, streamlines our supply chain for ATF, and gives us more
flexibility as we scale and expand our single-use and systems
portfolios.” He continued, “The EMT portfolio also enables us
to offer bioprocessing customers faster lead-times on single-use
flow path solutions and to provide biopharmaceutical and CDMO
customers with a more fully integrated and complete product
offering in Filtration and Chromatography.”
Michael Pandori, co-founder of Engineered Molding Technology,
said, “Over the last ten years, EMT has grown to become a key
player in the supply of extruded and molded silicone products into
the bioprocessing industry. We are at a transition point now where
it makes sense to join forces with Repligen, who has an impressive
history of scaling companies to the next level. For EMT, this
means taking our products global, expanding our commercial
footprint and integrating select EMT technologies into Repligen
product lines while continuing to innovate.”
The proposed acquisition is expected to close during Repligen’s
third quarter of 2020. Financial details were not disclosed.
Perella Weinberg Partners LP is acting as financial advisor and
Goodwin Procter LLP is serving as legal counsel to Repligen.
About Repligen CorporationRepligen Corporation
is a global life sciences company that develops and commercializes
highly innovative bioprocessing technologies and systems that
increase 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
corporate headquarters are located in Waltham, MA (USA), and we
have additional administrative and manufacturing operations in
Marlborough, MA; Bridgewater, NJ; Rancho Dominguez, CA; Lund,
Sweden; Breda, The Netherlands and Ravensburg, Germany.
Forward-Looking StatementsThis 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 EMT on Repligen’s future financial performance, including the
accretive nature and the timing of the accretive nature of the
acquisition, expected synergies following the acquisition of EMT,
customer adoption of EMT’s products, the expected expansion of
Repligen’s product lines, the timing of the closing of the
acquisition and other statements identified by words like
“believe,” “expect,” “may,” “will,” “should,” “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; our ability to integrate EMT’s
business and personnel and to achieve expected synergies; our
ability to maintain or expand EMT’s historical sales; our ability
to accurately forecast the acquisition, related restructuring 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 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. These forward looking statements
reflect management’s current views and Repligen does not undertake
to update any of these forward-looking statements to reflect a
change in its views or events or circumstances that occur after the
date hereof except as required by law.
Repligen Contact: Sondra S. NewmanGlobal
Head of Investor Relations(781)
419-1881investors@repligen.com
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