Novo Holdings A/S, a life science investor, is to acquire Laval, Canada-based early drug development services company Altasciences from Audax Private Equity.
The transaction is subject to customary closing conditions and is expected to close in the first half of 2021.
The acquisition will help Altasciences continue its impressive growth trajectory, including further domestic and international expansion.
Founded in 1992, Altasciences providing the pharma and biotech industries with a partner for drug development, from preclinical safety testing through clinical proof-of-concept studies.
Its 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.
In the past decade, the company has grown both organically and through acquisitions to have a significant presence in the preclinical safety testing, clinical pharmacology, bioanalytical, CRO services, and CDMO markets.
Altasciences operates six facilities in the U.S. and Canada and employs over 1,300 people.
The executive management team, led by CEO Chris Perkin, will continue to lead the business following the acquisition.