Kindeva Drug Delivery Acquires Summit Biosciences

New York, NY – Kindeva Drug Delivery (“Kindeva”), an operating company of Altaris, LLC (collectively with its affiliates, “Altaris”), announced today that it has acquired Summit Biosciences (“Summit”), an intranasal drug-delivery contract development and manufacturing organization, from its founding family shareholders.

Established in 2009, Summit has an extensive track record of innovation in the unit dose nasal spray market. The acquisition of Summit enhances Kindeva’s existing capabilities as a global leader in drug-device combination products by adding a new drug-delivery platform and expanding Kindeva’s ability to serve biopharma customers across a wider range of complex drug-device combination products (pulmonary, injectable, transdermal, and nasal).

Summit’s 55,000-square-foot cGMP facility in Lexington, Kentucky, adds to Kindeva’s global manufacturing footprint of nine development and manufacturing facilities across the U.S. and UK. The facility is approved by the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA), and features specialized laboratories and integrated manufacturing operations with a long track record in bringing intranasal medicines to market.

Kirkland & Ellis acted as legal counsel to Kindeva. Frost Brown Todd acted as legal counsel, and Bourne Partners served as the exclusive financial advisor, to Summit.

About Altaris

Altaris is a healthcare investment firm with an exclusive focus on building companies that deliver value to the healthcare system through innovation and efficiency. Since inception in 2003, Altaris has invested in 50 healthcare companies which have generated significant value appreciation for investors. Altaris is headquartered in New York City and manages more than $9.0 billion of equity capital. For more information, please visit www.altariscap.com.

About Kindeva Drug Delivery

Kindeva is a global contract development manufacturing organization (CDMO) focused on drug-device combination products. The company develops and manufactures products across a broad range of drug-delivery formats, including pulmonary & nasal, injectable, and transdermal. Kindeva’s service offerings span early-stage feasibility through commercial scale drug product fill-finish, container closure system manufacturing, and drug-device product assembly. Kindeva serves a global client base from our nine manufacturing, research, and development facilities located in the U.S. and U.K. For more information, please visit www.kindevadd.com.