Repligen to acquire Spectrum in cash and share deal

US biologics specialist Repligen (Nasdaq: RGEN) has entered into a definitive merger agreement with privately-held Spectrum Inc.

Under the terms of the accord, Repligen will pay around $359 million, comprised of $120 million in cash plus 6,154,000 shares of Repligen stock to acquire Spectrum.

Spectrum recorded revenue of $40.2 million in 2016, with greater than 90% coming from its filtration product portfolio. The addition of Spectrum is expected to accelerate the growth of Repligen’s filtration business, provide access to new customers, and greatly expand its commercial footprint, strengthening Repligen’s position as a leader in single-use and continuous manufacturing technologies for bioprocessing.