Maravai LifeSciences (MRVI) UBS Genomic Medicine Summit summary

Supply chain roles and business models

• Teknova, Maravai, and iRepertoire each address different segments of the genomic medicine supply chain, from reagents and raw materials to biomarker assays and nucleic acid production.

• Teknova focuses on custom, small-batch reagents for cell and gene therapies, scaling from research to GMP production.

• Maravai, through its Nucleic Acid Production segment, provides a vertically integrated suite of mRNA inputs and services, supporting programs from RUO to GMP.

• iRepertoire supplies high-throughput immune repertoire sequencing assays, supporting companion diagnostics and therapy monitoring.

• All three companies emphasize flexibility, speed, and customization to meet evolving clinical and commercial needs.

Market trends and demand outlook

• Funding for biotech and cell/gene therapy has stabilized and improved, with 2024 funding outpacing 2023, leading to renewed customer engagement and optimism for 2025.

• mRNA demand has shifted from pandemic-driven scale to a diversified pipeline of over 1,000 active programs, mostly in preclinical and phase I stages.

• Cell therapy is expanding but faces scientific and regulatory challenges, driving demand for new assays and companion diagnostics.

• The supply chain is becoming more reliable and clarified post-pandemic, with suppliers offering broader, vertically integrated solutions.

• Geographic sourcing, especially US-based manufacturing, has become a key consideration for customers seeking supply chain security.

Growth strategies and business scaling

• Suppliers are investing in infrastructure and quality systems to support rapid, custom production for smaller, more personalized therapies.

• Business models rely on onboarding many clinical customers, with significant revenue growth as products progress from phase I to commercialization (up to 30x increase).

• mRNA is viewed as a platform technology, enabling broad application across indications despite small individual markets.

• Cross-selling and attachment rates are increasing as suppliers offer comprehensive product and service suites, aiming to be one-stop shops for diverse customer needs.

• The shift from large, pandemic-scale supply chains to focused, multi-program support is driving diversification and deeper customer relationships.