Aldevron Announces Growth Investment from TA Associates
FARGO, ND and BOSTON, MA – Aldevron, a contract development and manufacturing organization specializing in the production of plasmid DNA, proteins and antibodies, today announced it has received a growth investment from TA Associates, a leading global growth private equity firm.
Aldevron’s management retains a significant portion of ownership in the company and will continue to run the company. Financial terms of the transaction were not disclosed.
Founded in 1998, Aldevron manufactures biologics for research, clinical and diagnostic applications. The company’s products are used to manufacture novel treatments for a wide range of indications, including cancer, infectious disease, pediatric disorders and rare diseases. Aldevron’s custom products are used extensively in the fields of gene therapy and gene editing. The company is headquartered in Fargo, North Dakota and has additional facilities in Madison, Wisconsin and Freiburg, Germany.
“Since Aldevron’s founding, we have strived to be the organization of choice for producing high-quality biologics that support the drug development objectives of our clients,” said Michael Chambers, CEO of Aldevron. “In 2016, we broke ground on a new 50,000-square-foot GMP facility that will be the first building on our new seven-acre campus. We also launched our new GMP-source facility and expanded our research grade plasmid service. With TA Associates’ partnership, we will increase our manufacturing capabilities and capacity, and advance our ongoing efforts to consistently provide the best-in-class products with the highest levels of client service. We look forward to working with TA and expect to benefit from their extensive healthcare experience and insights.”
“We are thrilled to invest behind Aldevron’s current management team to support the company’s tradition of serving its clients with industry leading manufacturing and development capabilities,” said Ethan K. Liebermann, a Principal at TA Associates who will join the Aldevron Board of Directors. “Since its founding, the company has generated a broad and diversified client base of leading global biopharmaceutical companies that we anticipate will continue to expand. We are thrilled to begin collaborating with the entire Aldevron management team and are very much looking forward to a longstanding partnership focused on continued growth and outstanding client service.”
“With significant demand for research and development focused on treatments for cancer, genetic defects, inflammatory conditions and other rare diseases, the biopharmaceuticals sector continues to be an attractive area of growth,” said Mark H. Carter, a Managing Director at TA Associates who will also join the Aldevron Board of Directors. “Aldevron’s development and manufacturing services have provided scientists with essential components to accelerate groundbreaking research and innovative discoveries that have the potential to help people live healthier and more productive lives. We are excited about our partnership with Aldevron and look forward to building upon the company’s foundation and expanding its position as a leading global biomanufacturer.”
Vogel LLP served as legal counsel to Aldevron and Kirkland & Ellis LLP served as legal counsel to TA Associates.
About Aldevron, LLC
Aldevron serves the biotechnology industry with custom production of nucleic acids, proteins and antibodies. Thousands of clients use Aldevron-produced plasmids, RNA and gene editing enzymes for projects ranging from research grade to clinical trials to commercial applications. Aldevron specializes in GMP manufacturing and is known for inventing the GMP-Source quality system. Company headquarters are in Fargo, North Dakota, with additional facilities in Madison, Wisconsin and Freiburg, Germany. For more information, please visit www.aldevron.com.
About TA Associates
TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 470 companies around the world and has raised $24 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the consumer, business services, financial services, healthcare and technology industries. More information about TA Associates can be found at www.ta.com.