Maravai LifeSciences (MRVI) Jefferies London Healthcare Conference 2024 summary

Bioprocessing trends and demand normalization

• Cygnus kits are primarily used during program starts in bioprocessing, with peak demand during process development phases.

• China contributed significantly to BST growth during the pandemic, but current expectations focus on stability rather than growth from that region.

• Demand normalization is expected to depend on factors like biotech funding, large pharma activity, and geographic program shifts.

New product development and R&D pipeline

• Over 20 new products were introduced this year, with a focus on expanding mRNA tools for life sciences.

• A new screening program enables high-throughput mRNA and cap testing, enhancing discovery capabilities.

• The company is both a product and service provider, spanning RUO to GMP, with ongoing expansion in capping technologies.

Flanders facility and service expansion

• The Flanders site opened in Q2, with the first mRNA build for a cell and gene therapy customer in Q3.

• Phase II and later-stage mRNA programs at Flanders can generate several million dollars each, significantly impacting quarterly results.

• The facility aims to retain customers through later development stages, validating the strategy of longer-term engagement.