Waltham life sciences company Repligen Corp., which sells products that help biotechs clear and purify drugs, Friday said it has agreed to pay $359 million to acquire privately held filtration company Spectrum Laboratories Inc.
The proposed deal, which includes a cash payment of $120 million along with 6.1 million shares of Repligen stock, will strengthen Repligen’s position in bioprocess filtration, a key component of the fast-growing biomanufacturing sector.
Spectrum, based in Rancho Dominguez, Calif., makes products used for the filtration, isolation, purification, and concentration of protein-based drugs known as monoclonal antibodies along with vaccines and cell therapies. It rang up sales of $40.2 million last year.
Repligen, traded on the Nasdaq stock exchange, has acquired four other companies in the past five years in a move to increase scale. Last December, the Waltham company paid nearly $40 million to buy TangenX Technology Corp., a Shrewsbury company that makes similar equipment.Robert Weisman can be reached at firstname.lastname@example.org. Follow him on Twitter @GlobeRobW.