Owner of Novo Nordisk acquires majority stake in Austrian life science tools company

Novo Holdings to Acquire Controlling Stake in Single Use Support, Expanding Reach in Life Science Tools

Novo Holdings, the investment arm of the Novo Nordisk Foundation and controlling shareholder of Danish obesity drugmaker Novo Nordisk, has announced it will 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 said it would amount to a “high triple-digit million euros.”

The two founders of Single Use Support will each retain 10% ownership, while U.S. life sciences firm Danaher will keep 20%. Novo Holdings CEO Kasim Kutay expressed that this acquisition is in line with their strategy of investing in companies that provide services to the pharmaceutical industry. This move comes after the success of Novo Nordisk’s obesity drug Wegovy, which led to bigger deals in the healthcare sector.

Single Use Support was founded in 2017 and specializes in producing equipment and consumables for the manufacturing of drugs, especially biologic medicines, cell and gene therapies, and mRNA vaccines. The company experienced significant growth during the COVID-19 pandemic due to business with Moderna.

Novo Holdings aims to help Single Use Support expand its customer base in Europe and globally by providing access to its resources and expertise. Despite not currently using Single Use Support products in the manufacturing of Wegovy, Novo Nordisk sees potential for collaboration and growth in the future.

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