Acquisition serves as second for VION as it expands platform offering and product line, moves closer to supporting drug manufacturing space
August 22, 2024 06:30 AM Eastern Daylight Time
CHARLOTTESVILLE, Va.–(BUSINESS WIRE)–VION Biosciences, a life science platform company focused on specialty reagents in the life science research, diagnostic, and drug discovery space, announced the recent acquisition of Salt Lake City-based Echelon Biosciences, a trusted supplier of critical materials, notably lipid-based excipients, to its growing portfolio. This acquisition serves as the second investment under VION Biosciences LLC (“VION Biosciences”), Iron Path Capital’s roll-up platform in the life science sector led by life science industry veteran, Mark Thornton.
The market has seen first-hand the opportunity mRNA technology presents to manufacture therapies quickly and at scale, and Echelon’s unique offering of lipid synthesis and the engineering of lipid nanoparticles is key to harnessing the power of mRNA-based therapies including vaccines and gene therapies. The strategic acquisition of Echelon not only solidifies VION’s core strengths in the drug discovery through pre-clinical space, but now enables VION to transcend into the drug manufacturing space while enhancing customer access to specialized products and technologies through a targeted expansion of the VION product portfolio.
Building on the strategic framework of the Aldon acquisition in 2023, Echelon will serve as an engine for growth for VION while integrating into the platform via unparalleled product quality, customer relationships, and service. The acquisition of Echelon and its team of experts in lipidomics (including phosphoinositides and other bioactive materials) aligns with VION’s long-term strategy to partner with underserved, niche areas of biopharmaceutical research to support the development of next-generation therapeutics and diagnostics and is another step towards VION’s domestic and global expansion efforts to evolve its leading specialty products platform.
Former Echelon Owner and President, Bert V. Israelsen stated, “Joining forces with VION Biosciences provides an exciting opportunity to amplify the impact of our products and technologies. The combination of the team at Echelon and the VION senior leadership is a recipe for success, and we look forward to contributing to VION’s innovative vision and advancing scientific discovery together.”
Mark Thornton, CEO of VION Biosciences, stated, “Our customers are moving science forward daily, and our role is to look ahead to the future for what they need. The acquisition of Echelon Biosciences allows us to more effectively serve our customers who are focused on the delivery of a variety of mRNA and other gene-based biotherapeutics. Echelon’s long history as a market leader in ionizable and other critical lipids necessary to various stages of drug development pairs nicely with VION’s growth goals to expand its portfolio offering in the biopharma, diagnostic, and clinical research segments. This is the first of many decisions that will continue to evolve VION as an innovative leader in the life science industry.”
Echelon will operate as a subsidiary of VION, continuing to serve its existing customers while benefiting from VION’s resources and infrastructure.As part of the transition, the technical and commercial leadership within Echelon will remain in place. The team will be further strengthened through the additional leadership and resources brought forth by VION through the end of 2024 and into early 2025.
McCarthy, Lebit, Crystal, Liffman (Cleveland, OH) is acting as VION’s legal advisor and Forvis Mazars is acting as VION’s financial advisor.
About Iron Path Capital
Founded in 2021 by seasoned investors and operating executives Rob Reistetter and Scott Mraz, Iron Path Capital is a private equity firm that specializes in building great businesses in the healthcare and specialty industrials sectors. With offices in Nashville, TN, and Charlottesville, VA, Iron Path Capital supports management teams with strategic leadership, operational expertise and flexible capital to achieve visionary growth plans through defined, defensible execution. www.ironpathcapital.com
About VION Biosciences
VION Biosciences is positioned to be a best-in-class life science company delivering market-leading manufacturing and critical specialty chemicals and reagents alongside value-added services to enable scientific discovery, clinical testing, therapeutic development, and innovative solutions across a wide platform of key applications in the biochemical and life science sectors, from research to commercialization.
Contacts
John Voycik
Vice President, Business Development
john.voycik@vionbiosciences.com