Novo Holdings A/S, a world-leading life science investor with a focus on long-term, sustainable value creation, today announced that it has agreed to acquire Altasciences from Audax Private Equity.

Founded in 1992, Altasciences is a leading, fully-integrated, early drug development services platform, providing the pharma and biotech industries with a trusted partner for drug development, from preclinical safety testing through clinical proof-of-concept studies. 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. Headquartered in Laval, Canada, Altasciences operates six facilities in the U.S. and Canada and employs over 1,300 people.

Abhijeet¬†Lele, Senior Partner, Head of Principal Investments in the U.S. at Novo Holdings, said:¬†“The Altasciences team has done an impressive job of building an innovative company that plays an essential role in bringing innovative drugs to patients and is well-positioned to capture share in the fast-growing market for drug development services. We are excited about this investment and look forward to leveraging our network to continue growing Altasciences in collaboration with the management team.”

Read more/Source: PR Newswire