1315 Capital has acquired the Life Sciences and Diagnostics (LSDx) division of Argonaut Manufacturing Services, according to a news release. The LSDx business will now operate independently as Aluris Sciences, a contract manufacturing partner providing manufacturing solutions for life sciences, diagnostics and combination drug product customers.
1315 Capital, founded in 2014 and based in Philadelphia, is a healthcare-focused growth equity firm. The firm invests in commercial-stage companies across healthcare services, pharma/medtech products, pharma/medtech outsourcing, and health and wellness.
The firm typically makes equity investments of $15 million to $50 million in businesses with the potential to scale to $50 million to $200 million of revenue. This investment profile positions 1315 Capital to support companies that have already demonstrated commercial traction and are ready for expansion.
Terms of the transaction were not disclosed.
Source: Healthcare Investor · Summarized by HeadlinesBriefing