Novo Holdings, the investment arm of the Novo Nordisk Foundation, announced on Wednesday that it would acquire a controlling stake in Single Use Support, a life science tools company based in Austria. The exact value of the deal was not disclosed, but a spokesperson mentioned that it would amount to a “high triple-digit million euros.”
The two founders of Single Use Support will each retain a 10% stake, while U.S. life sciences firm Danaher will retain 20%. Novo Holdings has been focusing on well-established life science companies, particularly in healthcare, due to the success of drugs like Wegovy and Ozempic. This acquisition is part of Novo Holdings’ strategy to invest in companies that serve the pharmaceutical industry.
Single Use Support, established in 2017, produces equipment and consumables to support drug production, with a focus on biologic medicines, cell and gene therapies, and mRNA vaccines. The company experienced significant growth during the COVID-19 pandemic, especially with business from Moderna. According to Johan Hueffer, a senior partner at Novo Holdings, Single Use Support has shown substantial potential and growth, and the aim is to expand its customer base in Europe and globally. While Novo Nordisk currently does not use Single Use Support products for the production of Wegovy, the acquisition represents an opportunity for further collaboration and expansion in the pharmaceutical industry.
