Subject: Divestiture
Aldevron to Divest Its Antibody Discovery Unit
Aldevron, a leading manufacturer of plasmid DNA, proteins and mRNA, today announced the sale of its Germany based antibody discovery business. Brian Walters, current president of the business unit and longtime employee of Aldevron, led a group of investors to purchase the business for an undisclosed amount. The transaction is effective immediately.
The new business will operate under the name GENOVAC, the original name of the German company purchased by Aldevron in 2004.
"This announcement is a positive outcome for both Aldevron and GENOVAC," said Kevin Ballinger, Chief Executive Officer of Aldevron. "This transaction will allow Aldevron to focus more resources on developing the highest quality plasmid DNA, mRNA, custom enzymes and proteins for the rapidly growing gene and cell therapy fields, as well as vaccine development. This added focus is especially important as we support key clients in their efforts to develop safe and effective vaccines for COVID-19."
Founded in 1998, Aldevron has seen its business grow exponentially. The company is currently constructing a world-class 189,000 square-foot manufacturing facility on its 14-acre campus in Fargo, ND, adding to its existing large GMP production footprint.
GENOVAC will remain Aldevron's partner in antibody discovery services. Clients of both companies will receive uninterrupted access to service.
"Since joining the company seven years ago, I've had the privilege of being part of an Aldevron team that has experienced substantial growth while diligently serving hundreds of clients. Over the past year, our dedicated antibody team has launched several new capabilities including the most comprehensive single B cell service in the field," said Brian Walters, Chief Executive Officer of GENOVAC. "This acquisition allows for the acceleration of GENOVAC's growth plan and our commitment to the development of new and innovative technologies to antibody and CAR-T clients. These technologies enable novel approaches to discover the next generation of therapeutic drugs. I look forward to working with our talented team, strategic partners and vendors to position our client's programs for success."
The approximately 30 employees within the antibody discovery business unit in Freiburg, Germany are now employees of GENOVAC.
ABOUT ALDEVRON
Aldevron serves the biotechnology industry with custom production of nucleic acids and proteins. Thousands of clients use Aldevron-produced plasmids, RNA and gene editing enzymes for projects ranging from research grade to clinical trials to commercial applications. The Company specializes in GMP manufacturing and is known for inventing the GMP-SourceŽ quality system. Aldevron's 14-acre campus headquarters is located in Fargo, N.D. and is the world's largest DNA and RNA manufacturing facility. The company's protein development and manufacturing operations are located in Madison, WI.
ABOUT GENOVAC
GENOVAC is a leading antibody discovery and development company providing contract research and development services, including gene to recombinant antibody discovery and production one-stop shop programming. GENOVAC's antibody discovery capabilities include genetic immunization, advanced hybridoma and multiple single B cell platforms. GENOVAC is headquartered in Fargo, N.D., and has an antibody discovery and production facility in Freiburg, Germany.
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