By Mauro Orru

Merck KGaA has signed an agreement to acquire biopharmaceutical contract development and manufacturing organization Exelead for about $780 million in cash, in a deal expected to bolster its mRNA and lipid manufacturing capabilities.

The German pharmaceuticals-and-chemicals company said Thursday that Indianapolis-based Exelead specializes in injectable formulations, including lipid nanoparticle-based drug delivery technology that is key in mRNA therapeutics for use in Covid-19.

"Novel modalities, particularly mRNA, present a highly attractive business opportunity as pharma and biotech pipelines are increasingly building on them beyond Covid-19," Merck KGaA Chief Executive Belen Garijo said.

The company expects to wrap up the transaction in the first quarter.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

January 06, 2022 09:39 ET (14:39 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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