Altasciences buys WCCT Global, then gets snapped up itself by a pharma VC

Canadian pharmaceuticals

Hot on the heels of a deal that saw Canadian CRO Altasciences buy out WCCT Global, the company was then acquired itself by Novo Holdings.

On the first deal, struck just last week, the midsize privately owned CRO/CDMO bought out the Californian early-stage contract research company WCCT Global, boosting its phase 1 and 2 offerings and its geographic reach. Financials of the deal were not disclosed.

A week later, and Altasciences goes from acquirer to acquiree as the European VC arm of Novo Nordisk snapped up the company from former owner Audax Private Equity. Again, financials of the deal were not made public.

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Novo said its C-suite, led by CEO Chris Perkin, will continue to lead the business following the acquisition.

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“The Altasciences team has done an impressive job of building an innovative company that plays an essential role in bringing innovative drugs to patients and is well-positioned to capture share in the fast-growing market for drug development services,” said Abhijeet Lele, senior partner and head of principal investments in the U.S. at Novo Holdings.

“We are excited about this investment and look forward to leveraging our network to continue growing Altasciences in collaboration with the management team.”

“This is an exciting day for Altasciences,” added Chris Perkin, CEO of Altasciences. “We are very pleased to be partnering with Novo Holdings in the next phase of our exciting journey, given their exceptional reputation, track record, and broad portfolio of high-growth healthcare companies. We look forward to continuing our ambitious growth plans and commitment to providing clients with value-added services that offer a new paradigm of drug development outsourcing.”