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Kindeva Drug Delivery plans capital investment and jobs growth.
Kindeva Drug Delivery, formerly 3M Drug Delivery Systems, announced on May 1, 2020 that it is launching as an independent company after an acquisition by Altaris Capital Partners for $650 million. Under the terms of the agreement, 3D will retain a 17% minority interest in Kindeva alongside Altaris, a company press release said. Kindeva is a contract development and manufacturing organization for complex drug delivery, including transdermal patches, microneedle-based technologies, and metered-dose inhalers.
“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, CEO of Kindeva Drug Delivery, in the press release. “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, in the press release. “We believe Kindeva is well positioned to build on its successful track record as a leading provider of drug delivery technologies.”