Lundbeck Foundation accquires part of Ellab from Novo Holdings
Novo Holdings announced in June this year that it had agreed to acquire Ellab from EQT Private Equity. All relevant authorities have now approved the transaction, and the acquisition has been completed. It has also been agreed that Anders Hedegaard will become the new Chairman of the Group Board. In addition, Novo Holdings has entered into a separate agreement to sell a significant minority stake in Ellab to the Lundbeck Foundation.
The Lundbeck Foundation, like Novo Holdings, specialises in investments within the life sciences and has announced that it has entered into an agreement with Novo Holdings on acquiring a significant minority stake in Ellab and thus becoming part of the company’s ownership group together with Novo Holdings.
Arne Due-Hansen, Senior Vice President, Strategic Ownerships, Lundbeck Foundation said: “In partnership with Novo Holdings, we look forward to further developing the exciting growth journey Ellab is on. This medtech company will provide even more breadth to our strategic portfolio of healthcare companies and represents a clear step towards our long-term ambition of developing companies based in Denmark into global leaders in their field.”
Anders Hedegaard has been appointed Chairman based on his many years of experience within the life science industry. His roles have included being CEO of GN Stor Nord and GN Hearing, President and CEO of Bavarian Nordic A/S and CEO of Rodenstock. He has also been Chair of the Board of ALK for several years.
Anders Hedegaard said: “Ellab is a very exciting company with a key role within the pharmaceutical industry. I am therefore very much looking forward to taking up the new post and to collaborating with Ellab’s management and Group Board. Further, I am delighted that both Novo Holdings and the Lundbeck Foundation will be part of the ownership group, and I am sure that both will provide a very solid foundation for Ellab’s future growth.”
“We are very much looking forward to working with Anders Hedegaard and welcoming him to the Group Board. Anders has a wide-ranging background with in-depth knowledge of the pharmaceutical industry, CEO and board experience with both privately owned and listed companies,” said Henrik Kjær Hansen, Senior Partner, Principal Investments at Novo Holdings.
Ellab serves all the top 20 biotechnology companies and all the top 40 pharmaceutical companies globally, helping them to ensure consumer safety and regulatory compliance while reducing time to market and the risk of product loss.
The Lundbeck Foundation’s investment in Ellab is subject to relevant regulatory approvals.
Read more: Novo Holdings - Novo Holdings to acquire Ellab