Date: Jan 24, 2017 Source: FinSMEs (
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Aldevron, a Fargo, North Dakota-based contract development and manufacturing organization specializing in the production of plasmid DNA, proteins and antibodies, received a growth investment from TA Associates.
The amount of the deal was not disclosed. Following the deal, Aldevron's management, led by Michael Chambers, CEO, will retain a significant portion of ownership in and will continue to run the company. In conjunction with the funding, Ethan K. Liebermann, a Principal at TA Associates, and Mark H. Carter, a Managing Director at TA Associates, will join the Aldevron Board of Directors.
The company intends to use the funds to increase its manufacturing capabilities and capacity, and advance its R&D ongoing efforts.
Founded in 1998, Aldevron manufactures biologics for research, clinical and diagnostic applications. The company's products are used to manufacture novel treatments for a wide range of indications, including cancer, infectious disease, pediatric disorders and rare diseases.
The company also has additional facilities in Madison, Wisconsin and Freiburg, Germany.