1315 Capital has acquired the Life Sciences and Diagnostics (LSDx) division of Argonaut Manufacturing Services, according to a news release. The LSDx business will operate independently as Aluris Sciences. Aluris is 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 that invests in commercial-stage companies across healthcare services, pharma/medtech products, pharma/medtech outsourcing, and health and wellness.
The firm makes equity investments of $15 million to $50 million in businesses with the potential to scale to $50 million to $200 million of revenue. Terms of the transaction were not disclosed.
Source: Healthcare Investor · Summarized by HeadlinesBriefing