Harris Williams Advises Altasciences on its Pending Sale to Novo Holdings A/S

Rhea-AI Summary

Harris Williams announced its role as lead advisor for Altasciences, a portfolio company of Audax Private Equity, on its pending sale to Novo Holdings. Altasciences specializes in early drug development services, assisting the pharmaceutical and biotech industries from preclinical testing to clinical proof-of-concept studies. The transaction is anticipated to enhance Altasciences’ capabilities, aligning with increasing demands from small and medium-sized biopharma sponsors looking for comprehensive drug development solutions.

Positive

• Pending sale to Novo Holdings may enhance Altasciences' market position and resources.
• Altasciences offers comprehensive drug development solutions, catering to increasing demand from biopharma sponsors.

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• None.

Harris Williams, a global investment bank specializing in M&A advisory services, announces it is the lead advisor to Altasciences, a portfolio company of Audax Private Equity, on its pending sale to Novo Holdings A/S (Novo Holdings). Founded in 1992, Altasciences is a fully integrated, early drug development services platform, providing the pharma and biotech industries with a trusted partner for drug development, from preclinical safety testing through to clinical proof-of-concept studies. The transaction is being led by Paul Hepper, Geoffrey Smith, Tyler Bradshaw, Miles Annin and Bill Whitaker of the Harris Williams Healthcare & Life Sciences (HCLS) Group and Daniel Wang, a managing director leading the firm’s efforts in Asia.

“Altasciences’ full-service, integrated offering is uniquely tailored to the demand of small and medium-sized biopharma sponsors, which are expected to account for an increasing share of the growing pipeline of drugs in development,” said Paul Hepper, a managing director at Harris Williams. “It was a pleasure working with the teams at Altasciences and Audax Private Equity on this transaction and we believe the company has found a fantastic new partner in Novo Holdings.”

Altasciences is a forward-thinking, mid-size contract research organization offering pharmaceutical and biotechnology companies a flexible approach to preclinical and clinical pharmacology studies, including formulation, manufacturing and analytical services. For over 25 years, Altasciences has been partnering with sponsors to help support educated, faster and more complete early drug development decisions. Altasciences’ integrated, full-service solutions include preclinical safety testing, clinical pharmacology and proof of concept, bioanalysis, program management, medical writing, and biostatistics, all customizable to specific sponsor requirements. Altasciences helps sponsors get drugs to the people who need them, faster.

Audax Group is a leading alternative investment manager with offices in Boston, New York and San Francisco. Since its founding in 1999, the firm has raised over $27 billion in capital across its private equity and private debt businesses. Audax Private Equity has invested over $6 billion in more than 135 platforms and over 925 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax Group seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies.

Novo Holdings is recognized as a world-leading life sciences investor with a focus on creating long-term value. As a life sciences investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Novo Holdings also manages a broad portfolio of diversified financial assets.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across industry groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

The Harris Williams HCLS Group has experience across a broad range of sectors, including healthcare providers; payors and payor services; outsourced pharmaceutical services; medical device supply chain; healthcare IT; and pharmacy. For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

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FAQ

What is the significance of the Altasciences sale to Novo Holdings?

The sale may strengthen Altasciences' capabilities and market presence in drug development services.

Who is advising on the Altasciences acquisition?

Harris Williams is acting as the lead advisor on the acquisition of Altasciences by Novo Holdings.

What services does Altasciences provide?

Altasciences offers early drug development services, including preclinical safety testing and clinical studies.

Who is Altasciences partnered with for this acquisition?

Altasciences is being acquired by Novo Holdings, with support from Audax Private Equity.