Gamma Biosciences announced that it has entered into an agreement with Merck KGaA, Darmstadt, Germany, a leading science and technology company, whereby Merck KGaA, Darmstadt, Germany, will acquire Gamma operating company Mirus Bio for $600 million in cash.
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
