EQT VIII Fund invests in Aldevron, supports capacity expansion
The Fund aims to advance the R&D activity of Aldveron, as the North Dakota, US-based good manufacturing practice (GMP) supplier of DNA for commercial and clinical-stage gene therapies, continues to work to expand its capabilities.
The acquiring Fund announced its plans to support the company with investments in additional production capacity at its North Dakota campus as well, “furthering the Company's position as a key employer in North Dakota.”
Aldevron recently announced plans to expand its headquarters’ campus in North Dakota by half a million-square-feet, which will lead to its annual capacity exceed $1bn worth of biologics production.
With this transaction, the EQT has now invested in US businesses within each of its three ‘core sectors’, healthcare, telecommunications, media & technology (TMT) and business services, stated Morten Hummelmose, Chairman of EQT.
The transaction is expected to close by the end of the year.
EQT has also previously invested in other companies in the US healthcare sector including Certara and Clinical Innovations and in healthcare companies of the Asian market, such as LaoBaiXing and MHC Asia.
Additionally, it has made investments in European healthcare companies including Biovian, Curaeos, Fertin Pharma, HyTest, Igenomix, Karo Pharma, Lima, Ottobock and WS Audiology.
Aldevron currently employs approximately 400 people in its facilities in North Dakota, Wisconsin, and Germany.
