Ascend Advanced Therapies Partners with EW Healthcare Partners to Expand United States Capacity and Capabilities

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Nov 12, 2024, 08:00 ET

LONDON, Nov. 12, 2024 /PRNewswire/ -- Ascend Advanced Therapies (Ascend), a gene-to-GMP development partner, has partnered with EW Healthcare Partners to expand the footprint and capabilities of the company in the US and to continue investing further in infrastructure. Advanced BioScience Laboratories (ABL), a biotherapy, oncolytic and viral vector contract development, and manufacturing organization (CDMO) located in Rockville, MD, a portfolio company of EW Healthcare Partners, will become part of Ascend. EW will also make a significant capital investment in Ascend to support continued growth of the company.

"We founded Ascend with a vision to quilt together the best operators and technologies within the advanced manufacturing field. The complementary services at ABL and Ascend will further strengthen our service offering to customers," said Fred Cohen, Chairman of Ascend and Founding investor at Monograph Capital offered. "We look forward to working with our new colleagues at the Rockville facility and our partners at EW."

The addition of the ABL Rockville team and facility aligns more than three decades of development and manufacturing experience with additional virus modalities and GMP capacity for adeno-associated virus (AAV) production. The merger also expands fill/finish capacity in the US making the combined group one of the few suppliers with a comprehensive R&D to commercial offering in the market.

"This alignment deepens our already exceptional AAV expertise with the new team members from ABL. Not only are we expanding our GMP capacity, but this merger allows the team to offer customers an even more sophisticated gene-to-GMP experience," said Mike Stella, CEO of Ascend commented. "We are incredibly pleased to welcome EW Healthcare Partners as a new investor in Ascend and ABL to the Ascend family. The strong support from our existing investors has been instrumental in completing this transaction and will be crucial as we continue to drive growth in the new company."

"We have known Ascend and followed its progress in creating effective and high-quality gene therapies, and have been impressed with how the management team, which we also backed at Cognate BioServices, has expanded the business. We are excited about merging ABL with Ascend to create a scalable CDMO that will serve as a global platform for the manufacturing of advanced therapies. We have considerable experience and expertise in this space and the combined company's strategic plans are very well aligned with our long-term vision. We look forward to working with the Ascend and ABL teams to further growth," concluded Evis Hursever, Ph.D., Managing Director of EW Healthcare Partners.

The merger complements an active year for Ascend, including operational investments and progress in the US and Europe. In Q2 of 2024, GMP capacity was purchased in Alachua, Florida that is undergoing a capacity expansion, including new fill/finish capabilities. In Munich, Germany, GMP quality control (QC) testing, analytical, and process development capacity are close to launch, and that facility is also in expansion.

The ABL brand and website will stay intact through the initial transaction. To stay up to date with our teams, find ABL Bio at https://ablinc.com/ or find Ascend at www.ascend-adv.com. Follow co-branded updates on LinkedIn, or reach out at [email protected].

About Ascend

Ascend Advanced Therapies (Ascend) is a gene-to-GMP CDMO specializing in high-quality, cost-effective advanced therapy development and manufacturing. Established in clinical AAV innovation since 1991, Ascend now offers expanded commercial facilities and a versatile platform that supports multiple modalities. Our collaborative CMC approach guides clients from clinic to commercialization, aiming to balance yield and quality in life-saving therapies. The investment foundation for the company includes Abingworth, Ajinomoto, Cathay Health, Deerfield, Digitalis Ventures, DCVC Bio, 4BIO Capital, Monograph, and Petrichor. Learn more at www.ascend-adv.com.

About EW Healthcare Partners

With over $2 billion of capital raised since 2014, EW Healthcare Partners seeks to make growth equity investments in fast-growing commercial-stage healthcare companies in the pharmaceutical, medical device, diagnostics, and technology-enabled services sectors in the United States and Europe. EW Healthcare Partners has a singular commitment to the healthcare industry and has been a long-term investor in numerous healthcare companies, ranging across sectors, stages, and geographies. The team of senior investment professionals, operating partners and advisors is based in New York, London, and Houston. For more information, see https://www.ewhealthcare.com

About ABL

Advanced BioScience Laboratories (ABL) is a contract development and manufacturing organization (CDMO) dedicated to advancing therapeutics, vaccines, and other biological products. With over 60 years of experience working with diverse organizations including industry, government, and academic entities, ABL provides manufacturing capabilities for the development and production of virus-based oncolytic therapies, gene therapies and viral vaccines. GMP facilities are in Rockville, MD with services including bulk drug substance, live virus fill/finish, process, and assay development for clinical products.

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