Leading Australian biopharmaceutical CDMO, AcuraBio, has been acquired by investor Dr Glenn Haifer and Ampersand Capital Partners.
AcuraBio was formerly known as Luina Bio. It is a globally focused organisation bringing innovative therapeutics to market for customers in the biotech, pharmaceutical, and animal health industries. It provides recombinant proteins and vaccines, and complex live biotherapeutic products to customers on the leading edge in emerging therapeutics.
The company said the rebranding signifies an innovative new growth phase.
As part of the transaction, Dr Haifer and Ampersand are bringing significant investment to the company, with a focus on expanding the organization to better serve customers.
To fuel additional growth, AcuraBio is planning to increase production facility capacity and is actively evaluating expansion into new service offerings and technological capabilities.
Dr Haifer brings a wealth of experience to AcuraBio, as the former company chairman and investor behind Australian biotech successes such as Agilex Biolabs and Avance Clinical.
"We are very excited to be reinventing a company with such deep scientific experience," said Dr Haifer.
"With our deep expertise and commitment to further investment, AcuraBio will be a leader in the APAC region for international biopharma clients attracted by the technology, scientific excellence, and innovation we will bring to the platform. I am excited to leverage Ampersand's industry expertise as we take AcuraBio to the next level."
Based in the US and with more than $3 billion of assets under management, Ampersand is exclusively focused on growth-oriented investments in the healthcare sector. Ampersand has previously partnered with leading CDMOs such as Brammer Bio, ArrantaBio, Vibalogics, and Genezen, and the firm is a highly experienced investor in the emerging therapeutics CDMO industry.
David Anderson, a general partner at Ampersand, said, "AcuraBio is strategically positioned in Australia to support international biopharma drug development. Australia has a strong reputation for clinical and scientific excellence which is the foundation to success for a company like AcuraBio. We are extremely pleased to be working with Dr Haifer, who is a proven biotech investor and growth strategist with a real focus on client-centric service innovations."
