ToxStrategies Acquires Modality Solutions

Consolidation of leading scientific service providers enhances testing, optimization, and regulatory capabilities to maximize customer satisfaction

PHILADELPHIA , Aug. 8, 2023 /PRNewswire/ -- ToxStrategies, a best-in-class, multidisciplinary scientific consulting firm, today announced the acquisition of Modality Solutions ("Modality"). Founded in 2011 by Gary Hutchinson and Dan Littlefield, Modality optimizes the biopharmaceutical cold chain for novel, fragile, and controlled-temperature medical therapies and provides expert counsel on the complex filing requirements for these advanced drug products. In addition, Modality specializes in shipping validation testing using next generation, multi-modal simulation technologies. Pharmaceutical and biotech clients increasingly depend upon Modality to assist in the development of cold chain operations, as therapies have become more sensitive to changes in temperature. ToxStrategies is a portfolio company of Renovus Capital Partners. Terms of the transaction were not disclosed.

ToxStrategies partnered with Renovus Capital Partners in November 2022 with the goal of expanding its existing client base and developing new end markets. The acquisition of Modality by ToxStrategies brings together two best-in-class consulting firms within the life sciences industry, creating greater diversification across the customer base. Mr. Hutchison and Mr. Littlefield will continue to lead Modality as a Division of ToxStrategies.

"The partnership between ToxStrategies and Modality is an ideal strategic fit," said Laurie Couture Haws, President of ToxStrategies. "Our centralized platform will allow us to cross leverage expertise to better serve our clients across life sciences sectors. We are pleased to welcome Gary, Dan, and the Modality team to ToxStrategies."

Mr. Hutchison added, "We are thrilled to become part of the ToxStrategies platform. The combination of our capabilities will provide continued growth opportunities by allowing us to engage with a broader client base, as well as with additional segments of the drug development life cycle than before."

"ToxStrategies has benefitted from being one of several Renovus portfolio companies in the life sciences industry, giving it access to a vast network of relationships, capabilities, and industry expertise," said Jesse Serventi, a founding partner at Renovus Capital Partners. "We are now excited to support ToxStrategies' acquisition of Modality, which brings deep expertise in cold chain development and the regulatory processes central to the life sciences industry. We are confident that this acquisition will further enhance ToxStrategies' capabilities as a leading life sciences consultant and create numerous growth opportunities for the company."

About Renovus Capital Partners
Founded in 2010, Renovus Capital Partners is a lower middle-market private equity firm specializing in the Knowledge and Talent industries. From its base in the Philadelphia area, Renovus manages over $1 billion across its three sector focused funds and other strategies. The firm's current portfolio includes over 25 U.S. based businesses specializing in education and training, healthcare services, technology services and professional services. Renovus typically partners with founder-led businesses, leveraging its experience within the industry and access to debt and equity capital to make operational improvements, recruit top talent, pursue add-on acquisitions and oversee strategic growth initiatives. Visit us at www.renovuscapital.com and follow us on LinkedIn.

About ToxStrategies
ToxStrategies is a multidisciplinary scientific consulting firm specializing in toxicology, epidemiology, exposure sciences, industrial hygiene and safety, and regulatory compliance. They are a cutting-edge firm that strives to develop innovative solutions to address the complex scientific, technical, and regulatory challenges confronting their clients. ToxStrategies has a reputation for applying sound science and novel approaches tailored to meet the specific needs of their clients, whether a rapid response or a comprehensive analysis is required. The ToxStrategies' team of toxicologists, epidemiologists, industrial hygienists, engineers, exposure scientists, modelers, biostatisticians, information specialists, and regulatory specialists are recognized as leaders in their respective disciplines and bring a high level of technical expertise to every project. ToxStrategies has extensive experience assessing potential health risks associated with exposures to a wide variety of consumer products, food ingredients and additives, pharmaceuticals, medical devices, pesticides, industrial chemicals and environmental contaminants. ToxStrategies is headquartered in Texas and has offices and remote consultants throughout the US, Canada and England. For more information, please visit www.toxstrategies.com and on LinkedIn.

SOURCE Renovus Capital Partners