By Adriano Marchese
Shares in Rapid Micro Biosystems jumped Friday in premarket trading after it said it signed an agreement with Merck's life science business to distribute its microbiology testing platform.
Shares traded 9.1% higher ahead of the morning bell at $3.60.
The life sciences technology company said the distribution agreement is with MilliporeSigma, Merck's U.S. operating company, which grants the Merck company global co-exclusive rights to sell Growth Direct systems and related consumables.
With the rights, MilliporeSigma can sell to customers in the pharmaceutical, medical device, personal care, cosmetics and food and beverage fields worldwide.
The initial term of the agreement is for five years and includes a commitment by MilliporeSigma to purchase a minimum number of Growth Direct systems during each of the first two years.
Under the terms of the agreement, Rapid Micro will still continue to sell, place, validate and service its products globally, and will also maintain responsibility to install and service any Growth Direct system sold by MilliporeSigma.
The companies have also agreed to collaborate on supply chain modifications to lower costs, as well as to explore additional collaboration opportunities.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
February 28, 2025 06:45 ET (11:45 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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