Carlyle and SK Capital Partners Announce Extension of bluebird bio Tender Offer to May 2, 2025

Carlyle

WASHINGTON, DC and NEW YORK, NY—April 16, 2025—Carlyle (NASDAQ: CG) (“Carlyle”), SK Capital Partners, LP (“SK Capital”) and Beacon Parent Holdings, L.P. (“Parent”) today announced that Beacon Merger Sub, Inc. (“Merger Sub”) has extended the expiration date of its offer (the “Offer”) to acquire all of the outstanding common stock of bluebird bio, Inc. (NASDAQ: BLUE) (“bluebird”), to expire at one minute after 11:59 p.m., New York City time, on May 2, 2025.  The Offer was previously scheduled to expire one minute after 11:59 p.m., New York City time, on April 18, 2025. The tender offer was extended to allow additional time for the satisfaction of the remaining conditions to the tender offer, including receipt of applicable regulatory approvals.

Equiniti Trust Company, LLC, the depositary for the Offer, has advised Merger Sub that as of the close of business on April 15, 2025, approximately 700,288 shares of bluebird common stock have been validly tendered and not properly withdrawn pursuant to the Offer. Holders that have previously tendered their shares do not need to re-tender their shares or take any other action in response to this extension.

The Offer is being made pursuant to the terms and conditions described in the Offer to Purchase, dated March 7, 2025 (as amended or supplemented from time to time, the “Offer to Purchase”), the related letter of transmittal and certain other offer documents, copies of which are attached to the tender offer statement on Schedule TO filed by Parent and Merger Sub with the U.S. Securities and Exchange Commission (the “SEC”) on March 7, 2025, as amended.

The Offer is conditioned upon the fulfilment of certain conditions described in “Section 15—Conditions to the Offer” of the Offer to Purchase, including, but not limited to, the tender of a majority of the outstanding shares of bluebird, receipt of applicable regulatory approvals, and other customary closing conditions.

About bluebird bio, Inc.

Founded in 2010, bluebird has been setting the standard for gene therapy for more than a decade—first as a scientific pioneer and now as a commercial leader. bluebird has an unrivaled track record in bringing the promise of gene therapy out of clinical studies and into the real-world setting, having secured FDA approvals for three therapies in under two years. Today, we are proving and scaling the commercial model for gene therapy and delivering innovative solutions for access to patients, providers, and payers.

With a dedicated focus on severe genetic diseases, bluebird has the largest and deepest ex-vivo gene therapy data set in the field, with industry-leading programs for sickle cell disease, ß-thalassemia, and cerebral adrenoleukodystrophy. We custom design each of our therapies to address the underlying cause of disease and have developed in-depth and effective analytical methods to understand the safety of our lentiviral vector technologies and drive the field of gene therapy forward.

bluebird continues to forge new paths as a standalone commercial gene therapy company, combining our real-world experience with a deep commitment to patient communities and a people-centric culture that attracts and grows a diverse flock of dedicated birds.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $441 billion of assets under management as of December 31, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

About SK Capital 

SK Capital is a transformational private investment firm with a disciplined focus on the life sciences, specialty materials, and ingredients sectors. The firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital’s portfolio of businesses generates revenues of approximately $12 billion annually, employs more than 25,000 people globally, and operates more than 200 plants in over 30 countries. The firm currently has approximately $9 billion in assets under management. For more information, please visit www.skcapitalpartners.com. 

 

Additional Information and Where to Find It

This communication is not an offer to buy nor a solicitation of an offer to sell any securities of bluebird. The solicitation and the offer to buy shares of bluebird’s common stock is only being made pursuant to the Tender Offer Statement on Schedule TO, including an offer to purchase, a letter of transmittal and other related materials, that Parent and Merger Sub filed with the SEC. In addition, bluebird filed with the SEC a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer. Investors may obtain a free copy of these materials and other documents filed by Parent, Merger Sub and bluebird with the SEC at the website maintained by the SEC at www.sec.gov. Investors may also obtain, at no charge, any such documents filed with or furnished to the SEC by (i) bluebird under the “Investors & Media” section of bluebird’s website at www.bluebirdbio.com or (ii) by Parent and Merger Sub by calling Innisfree M&A Incorporated, the information agent for the Offer, toll-free at (877) 825-8793 for stockholders or by calling collect at (212) 750-5833 for banks or brokers.

INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THESE DOCUMENTS, INCLUDING THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 OF BLUEBIRD AND ANY AMENDMENTS THERETO, AS WELL AS ANY OTHER DOCUMENTS RELATING TO THE TENDER OFFER AND THE MERGER THAT ARE FILED WITH THE SEC, CAREFULLY AND IN THEIR ENTIRETY PRIOR TO MAKING ANY DECISIONS WITH RESPECT TO WHETHER TO TENDER THEIR SHARES INTO THE TENDER OFFER BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE TENDER OFFER.

Investors & Media Contacts 

Bluebird 

Investors: 

Courtney O’Leary

978-621-7347

coleary@bluebirdbio.com

Media: 

Jess Rowlands

857-299-6103

jess.rowlands@bluebirdbio.com

 

Carlyle 

Media: 

Brittany Berliner

+1 (212) 813-4839

brittany.berliner@carlyle.com

SK Capital 

Ben Dillon

+1(646)-278-1353  

bdillon@skcapitalpartners.com

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Blackstone Life Sciences and Anthos Therapeutics Announce Novartis has Completed the Acquisition of Anthos Therapeutics in a Deal Valued at up to $3.1B, with $925M Paid Upfront

Blackstone

The deal affirms Blackstone’s vision of building companies around innovative products to meet unmet patient needs

CAMBRIDGE, Mass., April 03, 2025 – Blackstone Life Sciences and Anthos Therapeutics, Inc., a transformative, clinical-stage biopharmaceutical company developing innovative therapies for the treatment of cardiometabolic diseases, announced today that Novartis has completed its acquisition of Anthos Therapeutics in a transaction valued at up to $3.1 billion.

Anthos was founded by Blackstone Life Sciences and Novartis in 2019 with the exclusive global rights from Novartis to develop, manufacture, and commercialize abelacimab, a novel Factor XI inhibitor that originated at Novartis. Abelacimab is currently in Phase 3 clinical development for the prevention of stroke and systemic embolism in patients with atrial fibrillation (LILAC-TIMI 76), in addition to two phase 3 studies in patients with cancer-associated thrombosis (ASTER and MAGNOLIA). Data from these trials are expected in the second half of 2026.

Transaction Details
Anthos shareholders will receive up to $3.1 billion in total deal value, including an upfront payment of $925 million, and payments in the event certain regulatory and commercial milestones are achieved.

Advisors
Goldman Sachs & Co. LLC acted as the lead financial advisor to Anthos. Morgan Stanley & Co. LLC also served as a financial advisor, and Goodwin Procter LLP served as legal advisor to Anthos.

About Blackstone Life Sciences
Blackstone Life Sciences (BXLS) is an industry-leading private investment platform with capabilities to invest across the life cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, BXLS helps bring to market promising new medicines and medical technologies that improve patients’ lives and currently has $12 billion in assets under management.

About Anthos Therapeutics
Founded by BXLS in 2019, Anthos Therapeutics is a transformative, clinical-stage biopharmaceutical company with exclusive global rights from Novartis Pharma AG to develop, manufacture and commercialize abelacimab. BXLS was the majority investor in the company, joined by other partners including Novo Holdings. For more information about Anthos, visit the Company’s website.

About Abelacimab
Abelacimab is a novel, investigational, highly selective, fully human monoclonal antibody that binds tightly to Factor XI to block its activation and prevent the generation of the activated form (Factor XIa). This mimics natural Factor XI deficiency, which is associated with protection from thromboembolic disease.

Abelacimab received a Fast Track Designation from the FDA in July 2022 for the treatment of thrombosis associated with cancer. In September 2022, abelacimab was also granted a Fast Track Designation for the prevention of stroke and systemic embolism in patients with atrial fibrillation.

Media Contact

Blackstone
Paula Chirhart
Paula.Chirhart@blackstone.com

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties, including statements regarding the expected benefits of Novartis’ acquisition of Anthos, future opportunities for the combined businesses, the development and commercialization of Anthos Therapeutics’ product candidates and the potential benefits of abelacimab. All statements, other than statements of historical facts, contained in this press release, including statements regarding the company’s strategy, future operations, future financial position, prospects, plans and objectives of management, are forward-looking statements. The words “anticipate,” “become,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in, or implied by, such forward-looking statements. Actual results may differ materially because of numerous risks and uncertainties including with respect to (i) the risk that the expected benefits or synergies of the acquisition will not be realized and (ii) the risk that the milestones may not be achieved and resulting payments may not be realized,  and (iii) unanticipated impact of the acquisition, including the response of business partners and competitors to the announcement of the acquisition or difficulties in employee retention. The actual financial impact of this transaction may differ from the expected financial impact described in this press release. In addition, the product candidate described in this press release is subject to all the risks inherent in the drug development process, and there can be no assurance that its development will be commercially successful. No forward-looking statement can be guaranteed. In addition, the forward-looking statements included in this press release represent the company’s views as of the date hereof and should not be relied upon as representing the company’s views as of any date subsequent to the date hereof. The company anticipates that subsequent events and developments will cause the company’s views to change. However, while the company may elect to update these forward-looking statements at some point in the future, the company specifically disclaims any obligation to do so.

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Sylvan Receives Investment from Novo Holdings to Drive Further Growth

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KKR

Transaction marks Novo Holdings’ largest investment in the planetary health space in Asia

BEIJING–(BUSINESS WIRE)– Novo Holdings, a leading global life science investor, and KKR, a leading global investment firm, today announced the signing of definitive agreements under which Novo Holdings will make a direct investment in Sylvan, a world-leading manufacturer of fungal biotechnology solutions (or the “Company”). KKR will remain the Company’s majority shareholder.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250402251805/en/

Novo Holdings’ investment in Sylvan marks its largest planetary health investment in Asia and its first in the fungal biotechnology sector, both of which are strategic priorities due to their growth prospects and potential for impact on planetary health.

The new capital will support Sylvan’s expansion by enabling increased production capacity, upgraded R&D infrastructure, and deeper penetration into high-growth markets, particularly in Asia. Sylvan will also benefit from Novo Holdings’ extensive network and sector expertise to further strengthen its position in the global mushroom spawn market and develop new high-impact bio-products, such as fungi-based materials, biopesticides, and nutritional supplements.

Founded in 1932, Sylvan is the world’s largest mushroom spawn and fungal biotechnology company and headquartered in China. The company seeks to harness the potential of fungal systems to create sustainable solutions to address global challenges in food, health, agriculture, and materials. Today, the Company operates multiple production facilities around the world and serves customers across 65 countries.

From spawning to cultivation, the modern mushroom sector offers significant sustainability benefits and circular economy value to planetary health. It requires minimal land and water compared to traditional agriculture and utilizes agricultural waste as raw materials to produce high-quality proteins. Sylvan views China as an important growth market, where the downstream mushroom cultivation sector has experienced strong industrialization transition tailwinds, which is driving greater demand for spawn and supporting the acceleration of agricultural modernization and rural economic growth across the country.

Jackie Qi, CEO of Sylvan, said, “Sylvan is delighted to welcome Novo Holdings as our latest investor and to have the continued support of KKR, who have been a terrific strategic partner in our value creation journey. With this latest milestone, we are in an excellent position to pursue our ambition to become a global leader in fungal biotechnology solutions across four unique markets: Food, Health, Agriculture, and Materials, and will look to leverage their global networks and expertise to take Sylvan to the next level of transformation.”

Amit Kakar, Managing Partner and Head of Asia, and Deepa Hingorani, Partner, Head of Planetary Health Asia, Novo Holdings, jointly added, “Sylvan represents a significant milestone for our global Planetary Health strategy and underscores our growing presence in Asia. As a leader in fungal biotechnology, Sylvan is well-positioned to deliver sustainable innovations that support food security, reduce chemical use, and build a circular bioeconomy. We look forward to collaborating with KKR to help Sylvan scale its impact, particularly across dynamic markets in Asia, and advance our shared vision for a healthier and more sustainable planet.”

Chris Sun, Partner and Head of China Private Equity, KKR, said, “We are pleased to welcome Novo Holdings given their significant expertise in life sciences and planetary health. KKR is aligned with Novo Holdings in our commitment to drive the creation of sustainable global solutions. We are proud of the tremendous progress Sylvan has achieved and believe this new strategic partnership will enable it to unlock even greater growth.”

Novo Holdings’ Planetary Health Investments team spans three continents (Europe, North America and Asia), and invests in areas where science and technology can deliver returns while tackling global challenges, including feeding a growing world population, fighting climate change and drought, or creating sustainable cities.

About Sylvan

Sylvan is a fungal biotechnology company, unlocking the incredible potential of the Earth’s ancient fungi. We believe these resilient fungi, having evolved over millions of years, hold the key to overcoming many of the problems our planet faces today and into the future. Our goal is simple: harness the power of fungi and create sustainable solutions to address global challenges in food, health, agriculture, and materials.

About Novo Holdings

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Asia, Planetary Health and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development. As of year-end 2024, Novo Holdings had total assets of €142 billion. www.novoholdings.dk

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Media Contact

For Sylvan
Melinda Kong
melinda.kong@sylvaninc.com

For Novo Holdings
Paul Ewing-Chow
pec@novo.dk

For KKR Asia Pacific
Wei Jun Ong
WeiJun.Ong@kkr.com

Source: KKR

 

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Atsena Therapeutics Announces Oversubscribed $150 Million Series C Financing to Further Advance Ocular Gene Therapy Programs

BainCapital

  • Financing led by new investor Bain Capital with participation from new investor Wellington Management and all existing investors
  • Proceeds to support advancement of ATSN-201 through potential approval and launch as well as preclinical programs to treat inherited retinal diseases
  • Norbert Riedel, PhD, will join Atsena’s Board of Directors

DURHAM, NC, April 2, 2025 – Atsena Therapeutics (“Atsena” or “the Company”), a clinical-stage gene therapy company focused on bringing the life-changing power of genetic medicine to reverse or prevent blindness, today announced the successful close of an oversubscribed $150 million Series C financing. The financing was led by Bain Capital’s Life Sciences team, with participation from an additional new investor, Wellington Management. All the Company’s existing investors also participated in the round, including Lightstone Ventures, Sofinnova Investments, Abingworth, Foundation Fighting Blindness, Hatteras Venture Partners, Osage University Partners, and the Manning Family Foundation.

Proceeds from the financing will be used to advance Atsena’s lead program, ATSN-201, for the treatment of X-linked retinoschisis (XLRS), a genetic condition that is typically diagnosed in childhood and leads to blindness later in life. The proceeds will also support Atsena’s preclinical pipeline of first-in-class therapies and expand the use of Atsena’s novel spreading AAV.SPR capsid.

“Closing our Series C marks a pivotal moment for Atsena as we advance our transformative ocular gene therapies and fuel our next phase of growth, innovation, and clinical progress,” said Patrick Ritschel, Chief Executive Officer of Atsena Therapeutics. “It follows a productive 12 months of key achievements including securing a partner to advance ATSN-101 to a global pivotal trial for Leber Congenital Amaurosis type 1 (LCA1) and initiating Part B of the ATSN-201 LIGHTHOUSE study for XLRS. We’re grateful for the support of our investors and partners who share our vision for the future of leveraging genetic medicine to reverse or prevent blindness.”

To date, Atsena’s clinical portfolio has received multiple designations by the U.S. Food and Drug Administration (FDA). ATSN-101, for the treatment of LCA1, has received Rare Pediatric Disease designation, Orphan Drug Designation, and Regenerative Medicine Advanced Therapy designation. ATSN-201 has been granted Fast Track, Rare Pediatric Disease, and Orphan Drug Designations. Updated data from the ongoing LIGHTHOUSE Phase I/II clinical trial evaluating ATSN-201 is anticipated later this year.

“We believe Atsena has a unique opportunity to deliver meaningful impact for patients with inherited retinal diseases on the basis of novel science and impressive clinical data generated to date,” said Amir Zamani, a Partner at Bain Capital Life Sciences. “We look forward to supporting Patrick and his strong team as they look to unlock the next phase of Atsena’s growth and innovation while thoughtfully advancing potentially groundbreaking therapies toward patients in need.”

In conjunction with the financing, Norbert Riedel, PhD, a seasoned scientist and biopharmaceutical executive, will join Atsena’s Board of Directors.

Wedbush & Co. served as exclusive placement agent to Atsena for the Series C financing, Cooley LLP acted as its legal advisor.

About Atsena Therapeutics
Atsena Therapeutics (“Atsena”) is a clinical-stage gene therapy company developing best-in-class treatments for the reversal or prevention of blindness from inherited retinal diseases. The company’s lead program is evaluating ATSN-201 in an ongoing Phase I/II clinical trial for X-linked retinoschisis (XLRS), a genetic condition that is typically diagnosed in childhood and leads to blindness later in life. ATSN-101, Atsena’s first-in-class, investigational gene therapy for Leber congenital amaurosis type 1 (LCA1) has completed a Phase 1 / 2 trial with positive results (https://doi.org/10.1016/s0140-6736(24)01447-8). Atsena is advancing ATSN-101 toward the initiation of a global pivotal trial as part of its exclusive strategic collaboration with Nippon Shinyaku Co., Ltd. Atsena’s pipeline is powered by novel adeno-associated virus (AAV) technology tailored to overcome the hurdles presented by inherited retinal diseases. Founded by pioneers in ocular gene therapy, Atsena is led by an experienced team dedicated to addressing the needs of patients with vision loss. For more information, please visit https://atsenatx.com/.

 Scott Lessne

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FairJourney Biologics Acquires Charles River Laboratories South San Francisco Facility

GHO Capital
  • Acquisition of Charles River site, previously Distributed Bio, strengthens antibody discovery capabilities with SuperHuman libraries and Yeast Display platform
  • Established presence in major North American biotechnology cluster extends FairJourney’s global reach

London, UK – Global Healthcare Opportunities, or GHO Capital Partners LLP (“GHO”), the European specialist investor in global healthcare, acknowledges the announcement from its portfolio company FairJourney Biologics regarding its acquisition of the South San Francisco site from Charles River Laboratories International, Inc.

FairJourney Biologics S.A., leaders in the discovery and optimisation of antibodies, announced that it had completed the acquisition of the South San Francisco site from Charles River Laboratories International, Inc. The acquisition aligns with FairJourney’s ongoing strategic growth plan, and will significantly bolster the Company’s antibody discovery and engineering capabilities, strengthening its technology portfolio and expanding its global presence with a key biotechnology hub in the US.

The acquisition of the South San Francisco site, formerly Distributed Bio, will transfer ownership of all facilities, staff and assets to FairJourney Biologics, including proprietary technologies such as the SuperHuman™, Cosmic™ and Tungsten™ libraries. By integrating these libraries within FairJourney’s own portfolio of antibody discovery technologies, the Company will offer customers a more diverse array of antibody discovery tools, and bring new antibody engineering solutions to its portfolio. Under the agreement, FairJourney will also acquire Charles Rivers’ Yeast Display method, allowing the Company to offer an expanded antibody discovery platform that can complement and enhance existing offerings.

South San Francisco hosts one of the world’s largest biotech clusters. Establishing facilities in this region forms a core part of the Company’s ongoing development strategy, strengthening its reach and physical presence in a major global market. The acquisition will provide customers in this region with a localised source of expertise and technical support, helping them to accelerate their antibody discovery and engineering pipelines. The deal will also enable FairJourney to leverage the industry-leading scientific expertise of the South San Francisco team, promoting new opportunities for collaborative projects, both internally and with leading global biotech and pharmaceutical companies.

We’re pleased to announce this strategic acquisition that will bring the exceptional team at Charles River’s South San Francisco site, as well as their cutting-edge technologies, into FairJourney. Said António Parada, CEO, FairJourney Biologics. He continued: “By combining our expertise, we not only strengthen our portfolio with powerful solutions such as the SuperHuman Libraries, but also enhance our ability to deliver innovative solutions to our partners. Working together, we can push the boundaries of antibody discovery and set new industry standards.

About GHO Capital:
Global Healthcare Opportunities, or GHO Capital Partners LLP, is a leading specialist healthcare investment advisor based in London. GHO Capital applies global capabilities and perspectives to unlock high growth healthcare opportunities, targeting Pan-European and transatlantic internationalisation to build market leading businesses of strategic global value. GHO Capital’s proven investment track record reflects the unrivalled depth of our industry expertise and network. GHO Capital partners with strong management teams to generate long-term sustainable value, improving the efficiency of healthcare delivery to enable better, faster, more accessible healthcare. For further information, please visit www.ghocapital.com.

 

About FairJourney Biologics
FairJourney Biologics is a leading biologics CRO, providing integrated services across antibody discovery, engineering and production to global biopharma. Founded in 2012 and headquartered in Porto, FairJourney has grown to over 90 highly technically skilled employees today. The Company operates a flexible, customer-oriented ‘one-stop shop’ approach to biologics development focused on quality, reliability and partnership. FairJourney has successfully completed more than 460 projects for over 70 customers across big pharma and leading biotech companies to date. The Company’s significant expertise in phage display technology, combined with a diverse approach to generating both immune and naïve antibody libraries have contributed to a market leading 99%+ project success rate. For further information, please visit www.fjb.pt.

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Avid Bioservices Poised for Significant Growth with New Partners GHO Capital and Ampersand Capital Partners

Ampersand
  • Acquisition of biologics Contract Development and Manufacturing Organisation Avid Bioservices now completed
  • GHO and Ampersand’s deep experience in CDMO investing to support Avid’s next stage of rapid growth including expanded offerings, talent investment and greater geographic reach

London, UK, and Boston, MA, February 5, 2025 — GHO Capital Partners LLP (“GHO”), the European specialist investor in global healthcare, and Ampersand Capital Partners (“Ampersand”), a private equity firm specialising in growth equity investments in the life sciences and healthcare sectors, today announced the successful closing of the previously announced acquisition of Avid Bioservices (“Avid”), a dedicated biologics Contract Development and Manufacturing Organisation (“CDMO”) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies.

On 7 November 2024, GHO and Ampersand entered into a definitive merger agreement for Avid to be acquired by funds managed by GHO and Ampersand in an all-cash transaction valued at approximately $1.1 billion.

Avid has experienced significant growth in recent years, offering its clients full lifecycle capabilities—from concept to commercial supply. With substantial investment already made by the company in its capacity at its state-of-the art facilities and its expertise in bioprocess optimisation, analytical testing, and regulatory compliance, Avid delivers high-quality, industry leading complex biologics to a roster of international customers.

GHO has considerable expertise in the CDMO sector through investments in its portfolio in companies like Ardena, Sterling Pharma Solutions, RoslinCT, and Alcami Corporation. Its strategy focuses on expanding technological capabilities, driving acquisitions, and supporting transatlantic expansion across the CDMO value chain, from early-stage development to commercial manufacturing. Leveraging its healthcare expertise and network, GHO Capital transforms CDMOs to enhance their services and market reach, ultimately delivering better, faster and more accessible healthcare.

Alan MacKay and Mike Mortimer, Managing Partners of GHO, commented: “We are delighted to start 2025 with the completion of this transaction, our first public to private deal. GHO has a deep understanding of the CDMO sector and Avid perfectly exemplifies a company that is operating in high growth markets supporting the growing biotech sector in research and development and big pharma and large biotech for the commercialisation of cutting-edge biologics. Avid’s recent investments, both in capacity and its exemplary team, have created a strong foundation for future growth. We look forward to partnering closely with the Avid team to unlock the business’s full potential.”

Nick Green, President and CEO of Avid Bioservices, said: “Avid has always strived to evolve and adapt to meet our customers’ complex development and manufacturing needs. The completion of this transaction marks an exciting milestone as we begin our new partnership with GHO Capital and Ampersand who will provide us with access to significant expertise that will accelerate our growth. With their support, we are well-positioned to enhance our capabilities, expand our service offerings, and deliver even greater value to our customers in this next phase of our journey.”

David Anderson, General Partner of Ampersand, added: “Avid has earned its reputation as a leader in biopharmaceutical development and manufacturing through technical excellence, customised solutions, and consistent regulatory compliance. By combining our deep industry expertise with Avid’s established capabilities, we are positioned to deliver enhanced value and accelerate innovation for clients globally.”

Advisors
William Blair served as buyside financial advisers, Ropes & Gray served as legal counsel, ClearView Healthcare Partners served as commercial advisor and Alvarez & Marsal served as financial advisors to GHO and Ampersand.

About GHO Capital

Global Healthcare Opportunities, or GHO Capital Partners LLP, is a leading specialist healthcare investment advisor based in London. GHO Capital applies global capabilities and perspectives to unlock high growth healthcare opportunities, targeting Pan-European and transatlantic internationalisation to build market leading businesses of strategic global value. GHO Capital’s proven investment track record reflects the unrivalled depth of our industry expertise and network. GHO Capital partners with strong management teams to generate long-term sustainable value, improving the efficiency of healthcare delivery to enable better, faster, more accessible healthcare. For further information, please visit www.ghocapital.com.

About Avid Bioservices, Inc.

Avid Bioservices (NASDAQ: CDMO) is a dedicated CDMO focused on development and CGMP manufacturing of biologics. The Company provides a comprehensive range of process development, CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. With more than 30 years of experience producing biologics, Avid’s services include CGMP clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing and regulatory submissions support. For early-stage programs the Company provides a variety of process development activities, including cell line development, upstream and downstream development and optimization, analytical methods development, testing and characterization. The scope of our services ranges from standalone process development projects to full development and manufacturing programs through commercialization. www.avidbio.com

About Ampersand Capital Partners

Ampersand Capital Partners, founded in 1988, is a middle-market private equity firm with $3 billion of assets under management, dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA, and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit Ampersandcapital.com or follow us on LinkedIn.

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EQT Life Sciences leads USD 97 million Series B in Atalanta Therapeutics, a biotech firm developing treatments for epilepsy and Huntington’s disease

  • Atalanta Therapeutics is pioneering RNA interference (RNAi) for the treatment of neurological diseases, having developed a proprietary platform that, for the first time enables RNAi to be deployed as a therapeutic approach throughout the brain and spinal cord

  • The USD 97 million Series B financing will support Phase 1 clinical trials of the company’s investigational RNAi therapies for KCNT1-related epilepsy and Huntington’s disease

  • EQT Life Sciences is leading the round investing from its LSP Dementia Fund, which is co-led by Sanofi Ventures with further participation from RiverVest Venture Partners, abrdn, Inc., Mirae Asset Financial Group and F-Prime Capital

EQT is pleased to announce that EQT Life Sciences has led a USD 97 million Series B funding round in Atalanta Therapeutics (“Atalanta” or “the Company”). Atalanta, a biotechnology company based in Boston, USA, is at the forefront of using RNA interference (RNAi) to treat neurological diseases.

RNA is a molecule that carries genetic instructions from DNA, guiding cells in protein production and serving as a blueprint for cellular processes. RNAi is a method of altering these instructions, allowing the targeting of diseases at the molecular level by potentially silencing harmful genes. Atalanta has developed a proprietary RNAi platform called di-siRNA, which, for the first time, enables RNAi to be deployed as a therapeutic approach throughout the brain and spinal cord. With this new funding, Atalanta aims to advance its investigational RNAi therapies for KCNT1-related epilepsy and Huntington’s disease to Phase 1 clinical trials.

Alicia Secor, M.B.A., Atalanta’s President and Chief Executive Officer, said: “We’re excited by the support we’ve received from this strong group of investors, led by EQT Life Sciences. This Series B will support a path to the clinic for two programs for serious neurological diseases that today lack disease-modifying therapies: KCNT1-related epilepsy and Huntington’s disease. We’re diligently progressing these medicines toward IND submissions next year so that we can start our Phase 1 trials and reach patients who are waiting.”

“Atalanta’s di-siRNA technology has shown promising ability to durably and evenly silence disease-promoting genes throughout previously inaccessible regions of the brain and spinal cord — opening a wide range of treatment possibilities for devastating neurological diseases,” said Arno de Wilde, M.D., Ph.D., M.B.A., Managing Director at EQT Life Sciences. “EQT is proud to lead this investment in Atalanta’s future as part of such a high-quality investor syndicate, and we look forward to partnering with Alicia and Atalanta’s leadership to support their continued success.”

Alongside EQT Life Sciences, the financing was co-led by Sanofi Ventures, with participation from other new investors RiverVest Venture Partners, abrdn, Inc., Mirae Asset Financial Group and existing investor F-Prime Capital. The Series B financing brings Atalanta’s total capital generated to date from financings and partnerships with Genentech and Biogen to USD 240 million.

Contact
EQT Press Office, press@eqtpartners.com

About EQT Life Sciences
EQT Life Sciences was formed in 2022 following an integration of LSP, a leading European life sciences and healthcare venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion (USD 3.5 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals, coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients. The LSP Dementia Fund (USD 297 million) started in 2020 and has a dedicated team of neurologists and neuroscientists focused on investing in therapeutics targeting neurodegenerative diseases.

For more information, go to https://eqtgroup.com/private-capital/life-sciences/

About Atalanta Therapeutics
Atalanta Therapeutics is a biotechnology company pioneering new treatment options for neurological diseases by utilizing its proprietary RNA interference platform, di-siRNA, which for the first time enables RNA interference to be deployed as a therapeutic approach throughout the brain and spinal cord. The company is advancing a deep pipeline of wholly-owned programs, with IND submissions planned in 2025 for programs in KCNT1-related epilepsy and Huntington’s disease, in addition to ongoing strategic collaborations with Biogen and Genentech. Atalanta is headquartered in Boston, Mass. For more information, visit www.atalantatx.com and follow us on Twitter and LinkedIn.

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Angitia Biopharmaceuticals Announces $120 Million Series C Financing

BainCapital

Source: Angitia Biopharmaceuticals

  • Financing led by Bain Capital Life Sciences with significant participation from existing and new investors
  • Proceeds will support the development of AGA2118, AGA2115, AGA111 and other pipeline assets for the treatment of serious musculoskeletal diseases
  • Norbert Riedel, Ph.D., will join the Board of Directors

WOODLAND HILLS, Calif. December 11, 2024 – Angitia Biopharmaceuticals (“Angitia” or “the Company”), a clinical-stage biotechnology company focused on the discovery and development of innovative therapeutics for serious musculoskeletal diseases, today announced the closing of a $120 million Series C financing round. Bain Capital Life Sciences led the financing, with participation from new investor Janus Henderson and existing investors OrbiMed, 3H Health Investment, Yonghua Capital, Legend Capital, and Elikon Venture. Proceeds from the Series C will support Angitia’s robust pipeline of novel, differentiated treatments for serious musculoskeletal diseases.

“The broad support for Angitia in this financing validates the hard work of our team, the clinical progress of our programs, and the quality of our emerging data,” said Dr. David Ke, M.D., Chief Executive Officer of Angitia. “We express gratitude to our investors, new and returning, for their support in our journey to provide novel and effective treatments for patients with musculoskeletal disease, and we look forward to continuing to execute on developing these valuable medicines.”

Angitia is advancing AGA2118 and AGA2115, bispecific antibodies targeting sclerostin and DKK1, through clinical development for osteoporosis and osteogenesis imperfecta (OI), respectively. The two molecules represent the next generation of dual-acting treatments for skeletal disease, increasing bone formation and decreasing bone resorption. With these two bispecifics, Angitia seeks to promote stronger, more organized skeletal development in patients. The Company is also developing AGA111, a biologic to promote spinal fusion in patients with degenerative disc disease.

In conjunction with the financing, Dr. Norbert Riedel, Ph.D., will join the Company’s Board of Directors. A seasoned scientist and biopharmaceutical executive, he brings decades of leadership experience to Angitia. Dr. Riedel serves on the board of directors of Jazz Pharmaceuticals and Eton Pharmaceuticals and is Chairman of the Board of Alcyone Therapeutics. He recently completed his tenure on the board of Cerevel Therapeutics. Dr. Riedel previously founded Aptinyx, Inc. and served as CEO of Naurex, which was acquired by Allergan in 2015. He also held senior roles at Baxter International and Hoechst-Marion Roussel (now Sanofi). Dr. Riedel holds a diploma in biochemistry and a Ph.D. in biochemistry from the University of Frankfurt.

Angitia is enrolling patients in a Phase 2 study in postmenopausal women with AGA2118 (NCT06577935). AGA2115 is being developed for the treatment of OI and is currently in a first-in-human study (NCT06086613). AGA111 is being explored for use in patients undergoing lumbar interbody fusion in a Phase 3 study (NCT06115512).

About Angitia Biopharmaceuticals

Angitia Biopharmaceuticals is a clinical-stage biotechnology company focused on the discovery and development of innovative therapeutics for serious musculoskeletal diseases. Angitia is currently studying 3 biologic product candidates in the clinic for the treatment of osteoporosis, osteogenesis imperfecta (OI), and spinal fusion. Leveraging the team’s extensive experience and scientific acumen in novel drug development, Angitia is committed to providing groundbreaking therapies to satisfy key unmet medical needs.

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VIVEbiotech Secures Growth Investment from Ampersand Capital Partners to Expand Lentiviral Vector Development and Manufacturing Capabilities

Ampersand

San Sebastian, Gipuzkoa, Spain, December 4th 2024 /PRNewswire/ — VIVEbiotech, a leading lentiviral vector Contract Development and Manufacturing Organization (CDMO), today announced a growth equity investment from Ampersand Capital Partners (“Ampersand”), a private equity firm specializing in the life sciences and healthcare sectors. The partnership with Ampersand will enable the expansion of VIVEbiotech’s lentiviral vector manufacturing In San Sebatian, Gipuzkoa, Spain and support the execution of a robust pipeline of customer projects for innovators developing groundbreaking in vivo and ex vivo cell and gene therapies.

VIVEbiotech provides process development, manufacturing and analytical testing for leading biopharmaceutical companies engaged in gene therapy and cell therapy projects. With a specific focus on lentiviral vector production, the Company operates a state-of-the-art, 3,000 sq. m. (32,000 sq. ft.) GMP-compliant facility in San Sebastián, Gipuzkoa, Spain. VIVEbiotech has a proprietary platform for custom lentiviral vector development and manufacturing, and their highly educated and skilled team of over 140 employees, with more than 85% holding advanced degrees, ensures top-tier expertise and compliance with international standards.

Jon Alberdi, CEO of VIVEbiotech, states: “We are thrilled to welcome Ampersand as a key partner to accelerate VIVEbiotech’s ambitious growth plan while strengthening our flexible, plug-and-play platform. This partnership will play an important role in continuing to exceed our customers’ high expectations. The combination of Ampersand’s industry expertise and VIVE’s robust team will position VIVE as a market leader by expanding our capacity and unique capabilities.”

As part of the transaction, industry veteran Dr. Stefan Beyer has been named Chairman of VIVEBiotech. Dr. Beyer added, “Given the ongoing rapid growth of the cell and gene therapy sector, I am excited to join the VIVEbiotech team. With its state-of-the-art GMP facility, the entire VIVEbiotech team has demonstrated robust capabilities that resonate with the market. Clients are drawn to the team’s scientific expertise, and this strategic investment by Ampersand will enable continued development and growth for VIVEbiotech.” Dr. Beyer has spent his entire career in the pharmaceutical outsourcing industry as an entrepreneur and advisor, previously serving as President, Managing Director, and CEO of Vibalogics, a former Ampersand portfolio company and industry leader of process development, manufacturing, and fill & finish services for biopharmaceutical companies developing oncolytic viral therapies, gene therapies, and vaccines.

Marina Pellon-Consunji, Partner at Ampersand, comments, “We are thrilled to support VIVEbiotech in their mission to advance lentiviral vector development. The team’s scientific expertise and innovative approach make them a key player in the rapidly growing cell and gene therapy industry. Through this investment, we look forward to partnering with Jon and his team to solidify VIVE as a global leader in lentiviral vector for in vivo and ex vivo cell and gene therapy.”

About VIVEbiotech

VIVEbiotech is a Contract Development and Manufacturing Organization (CDMO) specializing in lentiviral vectors for gene and cell therapy. Founded in 2015, VIVEbiotech operates under EMA and FDA standards, serving over 40 biotech companies globally. The company focuses on scalable, high-yield manufacturing processes and cutting-edge technologies. With expertise in both ex vivo and in vivo applications, VIVEbiotech supports the development and commercialization of therapies for cancers and rare diseases. For more information about VIVEbiotech, please visit vivebiotech.com.


About Ampersand Capital Partners

Ampersand Capital Partners, founded in 1988, is a middle-market private equity firm with $3 billion of assets under management, dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA, and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit AmpersandCapital.com or follow us on LinkedIn.

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Ampersand Capital Partners Completes Acquisition of Nektar Therapeutics’ PEG Reagent Manufacturing Business, Launching Newly Branded Gannet BioChem

Ampersand

BOSTON, MA & HUNTSVILLE, AL, December 2nd 2024 (GLOBE NEWSWIRE) – Ampersand Capital Partners, a private equity firm specializing in growth equity investments in the life sciences and healthcare sectors, today announced the successful closing of its previously announced acquisition of Nektar Therapeutics’ PEGylation reagent manufacturing business. The new Ampersand portfolio company will be branded Gannet BioChem and will continue to operate out of its state-of-the-art facility in Huntsville, Alabama.

With over 30 years of expertise, Gannet BioChem is a proven specialty CDMO leader in developing, scaling, and manufacturing polyethylene glycol (PEG) reagents – critical components in advanced biopharmaceutical and therapeutic products. Gannet BioChem combines industry-leading expertise and cutting-edge infrastructure to deliver unparalleled capabilities:

  • End-to-End GMP Production: From raw material sourcing to manufacturing and packaging, ensuring exceptional quality and reliability across every stage of the supply chain.
  • FDA-Approved Applications: Development and production of PEG reagents used in nine FDA-approved therapeutics over facility’s history.
  • Commercial Impact: Supplying PEG reagents for several currently marketed drugs.
  • Flexible Facility: Designed to efficiently handle small-scale and commercial-scale production needs.
  • Expert Team: An experienced workforce with an average tenure of 13 years, ensuring consistent quality and innovation.
  • Expansion-Ready Infrastructure: A 124,000 sq. ft. manufacturing facility with dedicated small and large-scale production areas and operational capacity for future growth.
  • Strategic Location: Situated in Huntsville, Alabama, Gannet BioChem benefits from its proximity to the USA’s second-largest life sciences research park, providing a robust ecosystem for collaboration and innovation in biotechnology.
  • Legacy of Quality: Gannet BioChem’s FDA-inspected facility maintains an exceptional compliance record, underlining its commitment to quality and reliability for customers worldwide.

“We are thrilled to introduce Gannet BioChem as a new, independent PEG reagents CDMO,” said David Anderson, General Partner at Ampersand Capital Partners. “The PEG reagent manufacturing team at Gannet BioChem has a well-established track record and long history of delivering high-quality, specialized PEG reagents for commercial and clinical stage biologic therapeutics.  We are well-equipped to build on that legacy with the support of Ampersand’s resources and expertise in life sciences partnerships. Gannet BioChem is poised for continued success and strategic growth as a trusted partner to biopharmaceutical innovators globally.”

About Ampersand Capital Partners

Ampersand Capital Partners, founded in 1988, is a middle-market private equity firm with $3 billion of assets under management, dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA, and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. For additional information, visit AmpersandCapital.com or follow us on LinkedIn.


About Gannet BioChem

With over 30 years of expertise, Gannet BioChem is a leading specialty CDMO specializing in the development, scaling, and manufacturing of polyethylene glycol (PEG) reagents—essential components in advanced biopharmaceutical and therapeutic products. Operating from a state-of-the-art 124,000 sq. ft. FDA-inspected facility in Huntsville, Alabama, Gannet BioChem delivers end-to-end GMP production, supporting clinical and commercial therapeutics. With a highly experienced team, flexible production capabilities, and a commitment to quality, Gannet BioChem provides reliable, innovative solutions to meet the evolving needs of the global biopharmaceutical industry. For additional information, please visit GannetBioChem.com or follow us on LinkedIn.


About Nektar Therapeutics

Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments that address the underlying immunological dysfunction in autoimmune and chronic inflammatory diseases. Nektar’s lead product candidate, rezpegaldesleukin (REZPEG, or NKTR-358), is a novel, first-in-class regulatory T cell stimulator being evaluated in two Phase 2b clinical trials, one in atopic dermatitis and one in alopecia areata. Nektar’s pipeline also includes a preclinical bivalent tumor necrosis factor receptor type II (TNFR2) antibody and bispecific programs, NKTR-0165 and NKTR-0166, and a modified hematopoietic colony stimulating factor (CSF) protein, NKTR-422. Nektar, together with various partners, is also evaluating NKTR-255, an investigational IL-15 receptor agonist designed to boost the immune system’s natural ability to fight cancer, in several ongoing clinical trials. Nektar is headquartered in San Francisco, California. For further information, visit www.nektar.com and follow Nektar on LinkedIn.

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