Consumables Provider Repligen to Acquire the Business of Refine TechnologyBy
Repligen Corporation, a provider of consumables for biomanufacturing, has agreed to acquire for $24.5 million the business of Refine Technology, including Refine’s Alternating Tangential Flow (ATF) System, a filtration device used to continuously remove waste products from a fermentor during bioprocessing.
The $24.5-million deal includes $20.5 million in cash and 215,285 shares of Repligen stock. The agreement also includes contingent milestone payments of up to $8.75 million based on defined revenue targets through the year 2016, a capped royalty provision of up to $2.15 million for above-target sales during the same period.
Repligen is headquartered in Waltham, Massachusetts and has manufacturing operations in Waltham and Lund, Sweden.