Maravai LifeSciences, which provides acid production, safety testing, and protein detection products for biotechs, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
Maravai provides critical products to enable the development of drug therapies, diagnostics, novel vaccines and support research on human diseases. Its more than 5,000 customers as of September 30, 2020 include the top 20 global biopharmaceutical companies ranked by research and development expenditures according to industry consultants, and many other emerging biopharmaceutical and life sciences research companies, as well as leading academic research institutes and in vitro diagnostics companies.
The San Diego, CA-based company was founded in 2014 and booked $222 million in sales for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol MRVI. Maravai LifeSciences filed confidentially on September 8, 2020. Morgan Stanley, Jefferies, Goldman Sachs, BofA Securities, Credit Suisse, UBS Investment Bank, Baird, William Blair, Stifel, KeyBanc Capital Markets, Academy Securities, Loop Capital Markets, Penserra Securities and Tigress Financial Partners are the joint bookrunners on the deal. No pricing terms were disclosed.
