The EQT VIII Fund has entered into an agreement to acquire a majority interest in Aldevron. Founded in 1998 by Michael Chambers and John Ballantyne, Aldevron supplies GMP, GMP-SourceTM, and research-grade plasmid DNA used in commercial-, clinical-, and research-stage gene therapies, as well as proteins, antibodies, and mRNA.
“The company’s custom development and manufacturing capabilities enable scientists worldwide to develop new therapies with a focus on quality, speed, and innovation,” says Marc Wolff, CFO of Aldevron.
Aldevron, based in Fargo, ND, has additional operations in Madison, WI and Freiburg, Germany. The company employs approximately 400 people worldwide and serves more than 4800 clients, including academic and research institutions, pharmaceutical, and biotechnology companies, adds Wolff.
According to Eric Liu, partner at EQT Partners and investment advisor to EQT VIII, EQT will focus on helping to advance Aldevron’s R&D and innovation efforts in genetic medicine and will also support Aldevron with investments in additional production capacity at the Fargo campus.
“EQT has followed the life science tools and gene therapy market closely for many years, and we believe Aldevron is uniquely positioned as a critical supplier to this rapidly growing market,” continued Liu. “The company helps its clients deliver leading edge therapies that address previously incurable medical conditions and improve patient lives around the world.”