Danaher Boosts Vaccines with Aldevron Buy
US science and technology group Danaher has agreed to pay $9.6 billion to buy Aldevron, a compatriot contract developer and manufacturer of biologics for the pharmaceutical and biotechnology sectors.
Headquartered in Fargo, North Dakota, Aldevron manufactures plasmid DNA, mRNA and proteins and it has a contract to supply plasmid DNA to Moderna for the US biotech’s mRNA Covid-19 vaccine. Once the deal is completed, Aldevron will operate as a standalone company and brand within Danaher’s Life Sciences segment.
“For nearly 25 years, Aldevron has made tremendous contributions to the advancement of cell, gene and other novel therapies and vaccines,” said Danaher’s president and CEO Rainer Blair. “This acquisition will expand our capabilities into the important field of genomic medicine and help us support our customers and their critical mission to bring more life-saving therapies and vaccines to market faster."
Aldevron, which employs about 600 people, is currently owned by Swedish private equity firm EQT, which took a majority stake in 2019 alongside TA Associates, founders and management. EQT said that under its ownership, Aldevron has experienced strong organic growth, expanded its management team and made significant investments to position the business for continued expansion.
Kevin Ballinger, CEO of Aldevron, commented, “Genetic medicine is the future and our field is expanding rapidly. EQT has been a great partner to us and played an important role in supporting our company as we scale. Danaher is an excellent strategic fit and new home for Aldevron, and we look forward to working with them.”
Earlier this year, Aldevron completed the construction of a new facility on its 14-acre Breakthrough Campus in Fargo, adding significant GMP manufacturing capacity. The company also has operations in Madison, Wisconsin and Freiburg, Germany.
Author: Elaine Burridge, Freelance Journalist
