Danaher to acquire mRNA manufacturer Aldevron for $9.6bn
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Danaher to acquire mRNA manufacturer Aldevron for $9.6bn

18 Jun 2021 (Last Updated June 18th, 2021 12:37)

On acquisition, Aldevron will work as a standalone company and brand in Danaher’s Life Sciences division.

Danaher to acquire mRNA manufacturer Aldevron for $9.6bn
Aldevron produces plasmid DNA, mRNA and proteins for biotechnology and pharmaceutical clients. Credit: Arek Socha / Pixabay.

Danaher has signed an agreement to acquire US-based biotech company Aldevron from EQT Private Equity for an enterprise value of nearly $9.6bn in cash.

Danaher intends to fund the transaction using cash on hand and/or earnings from the issuance of commercial paper.

Established in 1998, Aldevron produces plasmid deoxyribonucleic acid (DNA), messenger ribonucleic acid (mRNA) and proteins. It serves biotechnology and pharmaceutical clients in research, clinical and commercial areas.

A majority interest in Aldevron was acquired by EQT Private Equity in 2019, investing along with TA Associates, founders and management.

EQT backed Aldevron in developing and producing quality biologics. Aldevron’s production expertise aids researchers and biotech firms to develop and distribute breakthrough genetic treatments.

In addition, Aldevron distributed plasmid DNA used to produce mRNA vaccines for Covid-19.

Under EQT’s ownership, Aldevron, which currently has 600 employees, focused on its growth and expansion.

Furthermore, Aldevron recently added manufacturing capacity by setting up a new 189,000ft² site on its campus in Fargo, US.

Aldevron founder and executive chairman Michael Chambers said: “Joining Danaher will help us expand our global reach and harness the power of the Danaher Business System to continue supporting our customers with best-in-class products and services.

“I’m incredibly excited for Aldevron to take this pivotal next step with Danaher and look forward to the tremendous impact we can make together in the expanding area of genomic medicine.”

Following the acquisition, Aldevron will operate as a standalone company and brand within the Life Sciences division of Danaher.

Danaher president and CEO Rainer Blair said: “For nearly 25 years, Aldevron has made tremendous contributions to the advancement of cell, gene and other novel therapies and vaccines.

“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.”

The deal is subject to necessary conditions and regulatory approvals.