MALVERN, Pa. and CAMBRIDGE, United Kingdom and SANDWICH,
United Kingdom, May 17, 2022 /PRNewswire/ -- Alliance
Pharma, a US-based Bioanalytical CRO and an Ampersand portfolio
company, has agreed to acquire DDS, a UK-based Bioanalytical
Business Unit of LGC. KKR will become an equal shareholder in the
combined business alongside Ampersand Capital Partners. Backed by
Ampersand and KKR, Alliance and DDS plan to expand the company's
geographic reach, broaden its laboratory capabilities and expand
its service portfolio. The transaction is subject to regulatory
approvals and expected to be completed in Q2 2022.
Alliance Pharma ("Alliance"), a global provider of large and
small molecule bioanalytical services, provides a full suite of
discovery Bioanalytical, DMPK, regulated bioanalysis, biomarker,
LC-MS/MS, immunoassay, cell and gene therapy, and protein
characterization assays. DDS is a European provider of
Bioanalytical and Analytical and Materials Science Solutions to
pharma, biopharma, consumer healthcare and consumer products
clients, located in both Cambridge
and Sandwich, UK.
Together, the combined entity will enable its clients to benefit
from best-in-class international capabilities, particularly in the
emerging areas of bioanalytical science such as cell and gene
therapy and next-generation biologics.
Euan O'Sullivan, President and
CEO, LGC, said: "I am proud of the scientific and commercial
achievements delivered by the DDS business over the years,
supporting customers in their mission to develop new medicines and
products to improve the quality of life. I am confident that as
part of the Alliance organisation, the DDS team will be well
positioned for on-going success as part of a global business
focused on bioanalytical and materials sciences activities."
Eric B. Lev, General Partner at
Ampersand Capital Partners, and Kugan Sathiyanandarajah, Managing
Director at KKR, commented: "Alliance and DDS are highly
complementary businesses with industry-leading management and
scientific teams, and strong track records of supporting leading
pharma and biopharma customers. We are delighted to be
collaborating to bring together two well respected and fast-growing
bioanalytical lab services businesses to create one of the leading
global specialty bioanalysis platforms."
KKR is investing in Alliance and DDS through KKR Health Care
Strategic Growth Fund II, a $4.0
billion fund focused on investing in high-growth health care
companies.
About Alliance Pharma
Founded in 2008, Alliance is a
contract research organization (CRO) that specializes in advanced
bioanalytical research services for both small and large molecule
drugs, as well as drug metabolism studies to support pharmaceutical
and biotechnology companies' drug discovery and development
programs. Alliance Pharma provides: quantitative LC-MS/MS
analysis of small molecule drugs, metabolites, biomarkers, protein,
peptides and oligonucleotides, as well as protein characterization
services; immunoassay of proteins and antibody drug conjugates;
immunogenicity assays (anti-drug antibody screening, confirmation,
titer assessment, and NAb determination): cell-based bioassays; in
vitro and in vivo drug metabolism and pharmacokinetic studies.
Alliance's mission is to build a trusted partnership with our
partners & clients to support their successful drug development
programs. Alliance's business philosophy is based on a
foundation of trust, professional ethics, scientific excellence,
and regulatory compliance.
About LGC
LGC is a global life science tools company,
providing mission-critical components and solutions into
high-growth application areas across the human healthcare and
applied market segments. Its high-quality product portfolio is
comprised of mission-critical tools for genomics and for quality
assurance applications, which are typically embedded and recurring
within its customers' products and workflows and are valued for
their performance, quality and range.
LGC's 180 years of scientific heritage, combined with a track
record of innovation and value-enhancing acquisitions, has enabled
the company to build its product portfolio and expertise, and
develop deep relationships with customers, industry partners and
the global scientific community.
About Drug Development Solutions (An LGC Business
Unit)
DDS's Bioanalytical solutions include
liquid-chromatography mass spectrometry (LC-MS) and immunoassay
bioanalysis, to provide data for pharmacokinetics, immunogenicity,
pharmacodynamics and cell-based assays supporting all phases of
drug development to GCP and GLP standards. Its Analytical
Materials Sciences solutions provides specialist testing of raw
materials, formulated products, packaging and medical devices for
trace impurities, contamination, degradation and quality control to
support CMC (Chemistry Control and Manufacture) analytical testing
to GMP (Good Manufacturing Practice) standard.
About Ampersand Capital Partners
Founded in 1988,
Ampersand is a middle market private equity firm with more than
$2 billion of assets under management
dedicated to growth-oriented investments in the healthcare sector.
With offices in Boston and
Amsterdam, Ampersand leverages its
unique blend of private equity and operating experience to build
value and drive superior 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. Additional information about Ampersand is
available at ampersandcapital.com.
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 and on Twitter @KKR_Co.