Maravai LifeSciences Holdings, Inc. acquired Alphazyme LLC from Dyadic International, Inc. and others for approximately $150 million.
January 18, 2023
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Maravai LifeSciences Holdings, Inc. (NasdaqGS:MRVI) agreed to acquire Alphazyme LLC from Dyadic International, Inc. (NasdaqCM:DYAI) and others on January 18, 2023. Additionally, under that arrangement Dyadic has the right to receive milestone and royalty payments based on sales of C1 expressed products by Alphazyme. Dyadic also has the potential to receive additional payments based on the future sales of Alphazyme?s existing products. Benoit Capital Partners acted as advisor to Dyadic International, Inc.
Maravai LifeSciences Holdings, Inc. (NasdaqGS:MRVI) completed the acquisition of Alphazyme LLC from Dyadic International, Inc. (NasdaqCM:DYAI) and others for approximately $150 million on January 18, 2023. The total consideration to acquire Alphazyme consisted of a base cash purchase price of $75.3 million, subject to customary post-closing adjustments, and potential performance payments payable in cash of up to $75 million. In connection with the sale of interest, Dyadic International, Inc. received approximately $1.27 million and also has the potential to receive additional payments based on the future sales of Alphazyme?s existing products. The total cash consideration was paid using existing cash on hand. As of August 9, 2023 during the six months ended June 30, 2023, the Company received a total cash payment of approximately $1.3 million from the sale of its equity interest in Alphazyme, LLC.
Maravai LifeSciences Holdings, Inc. is a life sciences company. The Company provides products that enable the development of drug therapies, diagnostics and vaccines and to support research on human diseases. Its companies provide products and services in the fields of nucleic acid synthesis and biologics safety testing to various biopharmaceutical, vaccine, diagnostics, and cell and gene therapy companies. The Company operates through two segments. Nucleic Acid Production segment is focused on the manufacturing and sale of highly modified nucleic acid products to support the needs of customer research, therapeutic and vaccine programs. The segment also provides research products for labeling and detecting proteins in cells and tissue samples. Biologics Safety Testing segment is focused on manufacturing and selling biologics safety and impurity tests and assay development services that are utilized by its customers in their biologic drug manufacturing activities.