Novo Holdings to acquire Altasciences

Life sciences investor Novo Holdings will acquire early drug development services platform provider, Altasciences, both groups have announced.

Altasciences has grown in the past decade and now operates across six facilities in the US and Canada, employing over 1,300 people. The company provides the pharma and biotech industry with drug development services for preclinical safety testing through clinical proof-of-concept studies.

The acquisition by Novo Holdings is aimed at helping Altasciences continue its growth trajectory, including further domestic and international expansion.

Abhijeet Lele, senior partner, head of Principal Investments in the U.S. at Novo Holdings, said: “The Altasciences team has done an impressive job of building an innovative company that plays an essential role in bringing innovative drugs to patients and is well-positioned to capture share in the fast-growing market for drug development services. We are excited about this investment and look forward to leveraging our network to continue growing Altasciences in collaboration with the management team.” 

Chris Perkin, chief executive officer of Altasciences, added: “This is an exciting day for Altasciences. We are very pleased to be partnering with Novo Holdings in the next phase of our exciting journey, given their exceptional reputation, track record, and broad portfolio of high-growth healthcare companies. We look forward to continuing our ambitious growth plans and commitment to providing clients with value-added services that offer a new paradigm of drug development outsourcing.”