I D
× COMMENTARYCOVER STORYIN THE NEWSNEWSFRONTSCHEMENTATOR + Show More BUSINESS NEWSTECHNICAL & PRACTICALFEATURE REPORTFACTS AT YOUR FINGERTIPSTECHNOLOGY PROFILEEQUIPMENT & SERVICESFOCUSNEW PRODUCTS + Show More

Comment

Croda acquires Alabama-based lipids company

By Mary Page Bailey |

Croda International Plc (Snaith, U.K.) has agreed to acquire Avanti Polar Lipids, Inc., a leader in lipid-based drug-delivery technologies for next-generation pharmaceuticals. Croda has acquired Avanti for an initial consideration of $185 million on a debt and cash-free basis, with an additional earnout of up to $75 million based on near-term commercial opportunities using Avanti’s lipid-based solutions.

Avanti, founded in 1967 by Dr. Walter and Rowena Shaw, is a technology-rich business that operates globally from one site in Alabama in the United States of America. Of its 150 employees, more than 100 are in scientific roles, and 29 have PhD qualifications. The know-how and expertise of its people drives the ongoing development of an extensive IP portfolio with the launch of 125 innovative products typically each year.

Avanti creates and makes high-purity polar lipids that are increasingly being used as delivery systems for complex therapeutic drugs and in next-generation mRNA vaccines. These lipid technologies ensure the targeted, controlled and extended release of active pharmaceutical ingredients (APIs), increasing their efficacy and safety. The business provides its world-class products and services to the majority of the leading pharmaceutical companies, as well as to thousands of biotechnology businesses and academic research organisations.

Avanti’s know-how and technology are highly complementary to Croda’s own capabilities in drug delivery systems, vaccine adjuvants and immunotherapy. The acquisition will more than double Croda’s research and development (R&D) capability in drug delivery. Avanti will also provide a new channel to market Croda’s ingredients for early-stage pharmaceutical research in both commercial and academic organisations worldwide. Equally, Avanti will be able to combine its leading position and flexibility in pharmaceutical R&D applications with Croda’s access to global markets, manufacturing expertise and capacity.  

The acquisition is subject to customary US regulatory approvals. On completion, Avanti will continue to operate under its existing brand, led by the current management team. It will become a part of Croda’s Life Sciences sector and sit within the fast-growing Health Care business. The acquisition is being financed by a three-year term loan, maintaining Croda’s strong liquidity.

 

Related Content

ABB

The Big 6 level measurement technologies: Where to use them and why

WHITE PAPER — The Big 6 level measurement technologies: Where to use them and why Anyone who’s ever worn a tool belt knows that sometimes you have to use a tool for something it’s not designed to do. If you don’t happen to have a hammer, a heavy…

Chemical Engineering publishes FREE eletters that bring our original content to our readers in an easily accessible email format about once a week.
Subscribe Now
Securing the availability of chemical processes through a long-term partnership
Metering gas in biogas plants
The Big 6 level measurement technologies: Where to use them and why
Minimizing particle breakage and mother liquor residue in technical salts production
Expectations are shifting: How measurement solutions can help overcome chemical industry challenges

View More