After selling its drug delivery systems to Altaris in a transaction valued at $650m (£523), 3M will retain a 17% minority interest in Kindeva, with the rest held by Altaris. The move is expected to generate employment opportunities at locations in St. Paul, MN; Northridge, CA; and the UK.
Kindeva is a global contract development/manufacturing (CDMO) firm focused on handling drug delivery projects for pharmaceutical and biotechnology customers. Currently employing about 900 people, the firm offers a range of expertise in formulation, product development and manufacturing.
Therapies developed and manufactured by Kindeva target a number of diseases, including respiratory illnesses and cardiovascular conditions. According to the company, its microneedle-based drug delivery platforms are now being used in dozens of development programs for COVID-19 vaccines, osteoporosis, immunotherapies, and other challenging therapies.
Aaron Mann, CEO of Kindeva, said the company provides a broad range of expertise to development of combination products and complex drugs, including those created to fight COVID-19.
"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,” he said. "We will be executing an ambitious growth plan that involves significant capital investment and the addition of new jobs across our operating regions.”
Altaris managing director George Aitken-Davies said he believes the newly acquired company has an impressive history of coming up with therapies.
"We believe Kindeva is well positioned to build on its successful track record as a leading provider of drug delivery technologies,” he said.
Kindeva has cGMP manufacturing operations in Loughborough, UK; Clitheroe, UK; Northridge, CA; and St. Paul, MN. It also operates R&D laboratories in Loughborough and St. Paul. Products manufactured by Kindeva are distributed to more than 60 countries worldwide.
Kindeva Drug Delivery, prior to the acquisition and renaming, has spent more than 60 years in the pharmaceutical industries. Its achievements include development of the industry’s first metered-dose inhaler (MDI) and the first drug-in-adhesive transdermal patch.
To date, Kindeva has developed and commercialized more than 20 complex drug products, including through new drug application (NDA) and abbreviated new drug application (ANDA) pathways. It holds more than 500 active patents and works with clients ranging from large blue-chip pharmaceutical companies to small biotech firms.
