Novo Holdings Acquires Majority Share of Single Use Support to Expand Life Science Tools, Diagnostics Portfolio

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Novo Holdings A/S announced that it has acquired a controlling stake in Single Use Support, an organization that specializes in life science tools that enhance pharmaceutical production processes, particularly for advanced drug substances and vaccines. According to the company, this acquisition is a part of an effort by Novo Holdings to expand its science tools and diagnostics portfolio, with a commitment to advancing healthcare technologies and therapies. The acquisition is subject to regulatory approvals.¹

“We are pleased to announce the acquisition of a majority stake in Single Use Support, a leading provider of advanced fluid management solutions,” said Johan Hueffer, senior partner, Principal Investments, Novo Holdings, in a press release. “This transaction marks an important and complimentary addition to our fast-growing life science tools & diagnostics portfolio and represents our first control investment in the DACH region, a vital hub for life sciences. This investment also underscores our commitment to advancing leading healthcare therapies and technologies.”

In January, Single Use Support announced that it had expanded its team by 40% over the past six months to over 170 employees. Additionally, the company’s non-COVID related business increased more than 70% in 2023. Reportedly, its solutions gained popularity with multiple big pharma companies, as a number of industry members placed significant orders for consumables and platform systems designed to aliquot, freeze/thaw, store, and ship high-value drug substances.²

“Welcoming Novo Holdings as a partner marks a significant milestone in our growth journey at Single Use Support,” said Johannes Kirchmair and Thomas Wurm, founders, Single Use Support, in the press release. “We take pride in having nurtured and developed our company into a key player in the life sciences sector. As we embark on this new chapter, we are enthusiastic about the prospects of partnering with Novo Holdings, a global leader in life science investments. The collaboration aligns perfectly with our mission and complements our existing partnership with Danaher, which will continue as a valued partner. Together, we look forward to advancing our impact and innovation in the life sciences industry.”

In February, Novo Holdings also acquired Catalent, aiming to boost its supply of Wegovy. An all-cash transaction of $16.5 billion, the deal is expected to close at the end of the year. As a part of the deal, Novo Nordisk will purchase three Catalent fill-finish sites and related assets acquired in the merger to increase production of Wegovy.^3,4

“Novo Holdings is joining us at a crucial moment as we prepare to further strengthen our global footprint, focusing on markets outside of Europe such as the US and Asia, and to engage with new customers,” said Christian Praxmarer, CEO, Single Use Support, in the press release. “With significant insights into the life science tools sector and a comprehensive industry network, I am excited to work alongside Novo Holdings and make new strides in our shared mission of bringing better treatments to patients.”

References

1. Novo Holdings A/S (“Novo Holdings”) today announced that it has agreed to acquire a majority stake in Single Use Support, a fast-growing life science tools company providing advanced technology solutions for the pharmaceutical production process. Novo Holdings. May 15, 2024. Accessed May 15, 2024. https://novoholdings.dk/news/novo-holdings-to-acquire-majority-stake-in-single-use-support

2. Single Use Support continues to grow, expanding its team by 40%. GlobeNewswire. January 16, 2024. Accessed May 15, 2024. https://www.globenewswire.com/news-release/2024/01/16/2809783/0/en/Single-Use-Support-continues-to-grow-expanding-its-team-by-40.html

3. Novo Nordisk’s Parent Company to Acquire Catalent To Boost Supply of Wegovy. PharmExec. February 5, 2024. Accessed May 15, 2024. https://www.pharmexec.com/view/novo-nordisk-parent-company-catalent-acquisition-wegovy

4. Novo Holdings to Acquire Catalent. Catalent. February 5, 2024. Accessed May 15, 2024. https://www.catalent.com/catalent-news/novo-holdings-to-acquire-catalent/