Novo Holdings A/S ("Novo Holdings") today announced that it has
agreed to acquire a majority stake in Single Use Support, a
fast-growing life science tools company providing advanced
technology solutions for the pharmaceutical production process.
COPENHAGEN, Denmark,
May 15, 2024 /PRNewswire/
-- Novo Holdings will acquire an approximately 60% controlling
stake, alongside the two company founders who will each retain 10%
and Danaher which will retain 20% of the share capital.
Founded in 2017 in Kufstein, Austria by Johannes
Kirchmair and Thomas Wurm,
Single Use Support is at the forefront of transforming the
production process for advanced pharmaceutical modalities with its
equipment and consumables used in the bioprocessing value chain.
With a focus on solutions for biological drug substances, cell and
gene therapies, and mRNA vaccines, the company's customers include
leading pharma companies, biotech companies and CDMOs.
Single Use Support's products have rapidly gained widespread
adoption by enhancing operational efficiency, minimising leakage,
and effectively mitigating contamination risks in the
pharmaceutical production process.
Johan Hueffer, Senior Partner, Principal Investments, Novo
Holdings, said: "We are pleased to announce the acquisition of
a majority stake in Single Use Support, a leading provider of
advanced fluid management solutions. This transaction marks an
important and complimentary addition to our fast-growing life
science tools & diagnostics portfolio and represents our
first control investment in the DACH region, a vital hub for life
sciences. This investment also underscores our commitment to
advancing leading healthcare therapies and technologies."
Tuomas Toiviainen, Partner,
Principal Investments, Novo Holdings, added: "We are excited to
partner with existing shareholders and management to support the
next phase of growth and drive further innovation in the rapidly
expanding bioprocessing market. This acquisition demonstrates our
expertise and investment focus in backing high-quality life science
tools companies. We look forward to working with the Single Use
Support management team and employees who share our passion for
innovation in the life science space."
Johannes Kirchmair and
Thomas Wurm, founders of Single Use
Support and board members, said: "Welcoming Novo Holdings as a
partner marks a significant milestone in our growth journey at
Single Use Support. We take pride in having nurtured and developed
our company into a key player in the life sciences sector. As we
embark on this new chapter, we are enthusiastic about the prospects
of partnering with Novo Holdings, a global leader in life science
investments. The collaboration aligns perfectly with our mission
and complements our existing partnership with Danaher, which will
continue as a valued partner. Together, we look forward to
advancing our impact and innovation in the life sciences
industry."
Chris Riley, Executive Vice
President, Biotechnology Group, Danaher, said: "We are pleased
to continue our involvement in Single Use Support and to partner
with Novo Holdings as we take the company to the next level. At
Danaher, we are focused on leveraging the power of science and
technology to meaningfully improve human health, which makes Novo
Holdings a very good long-term partner for us in the collaboration
at Single Use Support and beyond."
Christian Praxmarer, CEO,
Single Use Support, said: "Novo Holdings is joining us at a
crucial moment as we prepare to further strengthen our global
footprint, focusing on markets outside of Europe such as the US and Asia, and to engage with new customers. With
significant insights into the life science tools sector and a
comprehensive industry network, I am excited to work alongside Novo
Holdings and make new strides in our shared mission of bringing
better treatments to patients."
The transaction is subject to regulatory approvals. Kromann
Reumert, DORDA, Linklaters and Wilson
Sonsini served as legal advisors and William Blair served as financial advisor to
Novo Holdings. E+H served as legal advisor while Jefferies LLC
served as financial advisor to Single Use Support.
About Novo Holdings A/S
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
(formerly Novozymes 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 Seeds, Venture, Growth, Asia, Bioindustrial and Principal Investments
teams, Novo Holdings invests in life science companies at all
stages of development. As of year-end 2023, Novo Holdings had total
assets of EUR 149 billion.
www.novoholdings.dk
About the Novo Nordisk Foundation
Established in Denmark in 1924,
the Novo Nordisk Foundation is an enterprise foundation with
philanthropic objectives. The vision of the Foundation is to
improve people's health and the sustainability of society and the
planet. The Foundation's mission is to progress research and
innovation in the prevention and treatment of cardiometabolic and
infectious diseases as well as to advance knowledge and solutions
to support a green transformation of society.
www.novonordiskfonden.dk/en
About Single Use Support
Single Use Support is a pioneering process solution
provider specializing in fluid and cold chain management of drug
substances. The company focuses on the development of solutions to
provide manufacturers with 100% safe and efficient handling, liquid
transfer, freezing and cold chain shipping of advanced therapies
and biologics in pharmaceutical production.
Founded in 2017, the company made its way to a highly respected
innovation leader in a fast-growing market and serves customers
globally. Single Use Support is headquartered in
Kufstein/Austria and also operates
from a US subsidiary in Lexington
MA. Approximately 200 associates globally ensure that
innovation continuous and products and services simplify the life
of global biopharma and advanced therapies clients. Explore more at
www.susupport.com.
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