Ascend Expands US Footprint with EW Healthcare Partnership
Deal News | Nov 12, 2024 | Abingworth LLP
Ascend Advanced Therapies, a company specializing in gene-to-GMP development, has partnered with EW Healthcare Partners to enhance its presence and capabilities in the United States. As part of this strategic partnership, Advanced BioScience Laboratories (ABL), a portfolio company of EW Healthcare, will be integrated into Ascend. This merger aims to bolster Ascend's service offerings by consolidating ABL's expertise in biotherapy and manufacturing with Ascend's advanced manufacturing capabilities. EW Healthcare Partners will also make a substantial capital investment in Ascend, supporting the company's continued growth and infrastructure expansion. The strategic alignment between Ascend and ABL positions the combined entity as a leading player in the advanced therapy manufacturing sector, offering comprehensive R&D to commercial services. The merger reflects a continuation of Ascend's operational growth trajectory, marked by recent capacity expansions in Florida and Germany. Founders and investors of both companies express confidence in the merger's potential to foster further innovation and success in the life sciences sector.
Sectors
- Biotechnology
- Healthcare
- Pharmaceuticals
Geography
- United States – The article centers on the expansion of Ascend's operations in the U.S., including the acquisition of a site in Rockville, MD.
- Europe – EW Healthcare Partners, one of the main participants, has operational bases in London and investment interests across Europe.
Industry
- Biotechnology – The article discusses gene therapies and the manufacturing of advanced therapies, which are core components of the biotechnology sector.
- Healthcare – EW Healthcare Partners focuses on investments in healthcare companies, highlighting the relevance of the healthcare industry.
- Pharmaceuticals – The involvement of EW Healthcare Partners in pharmaceutical and medical device sectors makes this industry classification pertinent.
Financials
- $2 billion – The total capital raised by EW Healthcare Partners since 2014.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ascend Advanced Therapies | Target Company | Company | A gene-to-GMP CDMO focused on the development and manufacturing of advanced therapies. |
| EW Healthcare Partners | Investor/Bidding Company | Company | A healthcare investment firm providing capital to growth-stage companies in the healthcare sector. |
| Advanced BioScience Laboratories (ABL) | Portfolio Company | Company | A CDMO specializing in the production of virus-based oncolytic therapies and gene therapies. |
| Monograph Capital | Investor | Company | One of the founding investors in Ascend Advanced Therapies. |
| Fred Cohen | Chairman of Ascend | Person | Chairman of Ascend and founding investor at Monograph Capital. |
| Mike Stella | CEO of Ascend | Person | Chief Executive Officer of Ascend Advanced Therapies. |
| Evis Hursever | Managing Director | Person | Managing Director at EW Healthcare Partners. |