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By Yashasvini Razdan, 3:12 PM ET
Danaher Corporation will acquire privately-held biotech firm Aldevron, for a cash purchase price of approximately $9.6 billion.
Fargo, North Dakota-based Aldevron was founded in 1998 by Michael Chambers and John Ballantyne and employs around 600 people. The company manufactures high-quality plasmid DNA, mRNA, and proteins, serving biotechnology and pharmaceutical customers across research, clinical and commercial applications.
Messenger ribonucleic acid or mRNA plays a vital role in protein synthesis. The mRNA is a single-stranded molecule that carries genetic code from the DNA in a cell’s nucleus to the ribosomes, which make proteins in the cell. mRNA medicines carry instructions that instruct the body’s cells to make proteins to prevent or fight a disease.
mRNA technology has been used to manufacture the Pfizer-BioNTech vaccine and the Moderna vaccine, for coronavirus.
Michael Chambers, founder, and executive chairman, Aldevron, said that the acquisition will allow the company to expand its global reach and utilize the resources of Danaher Business System for the same. “I'm incredibly excited for Aldevron to take this pivotal next step with Danaher and look forward to the tremendous impact we can make together in the expanding area of genomic medicine, he said.
After the acquisition, Aldevron will operate as a standalone operating company and brand within Danaher's Life Sciences segment.
The Washington-based Danaher Corporation is a globally diversified conglomerate that develops and sells medical, industrial, and commercial products and services.
President and CEO, Rainer M. Blair, said, “This acquisition will expand our capabilities into the important field of genomic medicine and help us support our customers and their critical mission to bring more life-saving therapies and vaccines to market faster.
Picture Credits: Danaher