New jobs on the way as pharma firm launches as independent company
Loughborough-based 3M Drug Delivery Systems has been launched as an independent company called Kindeva Drug Delivery following a £523m deal.
Altaris Capital Partners has taken over the firm, with 3M retaining a 17% minority stake.
The company currently has 325 employees in Loughborough and expects to add new jobs as it’s been deemed an essential business during the COVID-19 pandemic.
Kindeva is a leading global contract development and manufacturing organization (CDMO) that specialises in solving complex drug delivery challenges for its pharmaceutical and biotechnology customers. It employs 900 people and operates out of a 51,500 sq ft facility in Loughbrouh. The firm also has bases in Clitheroe and Northridge and St. Paul in the USA.
“Kindeva brings deep expertise to the unique challenges of developing combination products and complex drugs, including those that are playing an important role in the fight against COVID-19,” said Aaron Mann, chief executive of Kindeva Drug Delivery.
He added: “Over the years, 3M has built a differentiated platform of drug delivery technologies and I look forward to the opportunities ahead for Kindeva as an independent company in partnership with Altaris. We will be executing an ambitious growth plan that involves significant capital investment and the addition of new jobs across our operating regions. This is an exciting time for Kindeva and our talented colleagues.”
“We are excited to be partnering with 3M and the Kindeva team in this transaction,” said George Aitken-Davies, managing director of Altaris. “We believe Kindeva is well positioned to build on its successful track record as a leading provider of drug delivery technologies.”
