Croda International Plc today confirmed that, following approval from the US regulatory authorities, it has now successfully completed the acquisition of Avanti Polar Lipids, Inc., a leader in drug delivery systems for next generation pharmaceuticals.

 

Croda has acquired Avanti for an initial consideration of $185m on a debt and cash-free basis, with an additional earnout of up to $75m based on near-term commercial opportunities using Avanti’s lipid-based solutions.

 

It will become a part of Croda’s Life Sciences sector and sit within the fast-growing Health Care business.

 

Avanti creates and makes high-purity polar lipids that are increasingly being used as delivery systems for complex therapeutic drugs and in next-generation mRNA vaccines. These lipid technologies ensure the targeted, controlled and extended release of active pharmaceutical ingredients (APIs), increasing their efficacy and safety. The business provides its world-class products and services to the majority of the leading pharmaceutical companies, as well as to thousands of biotechnology businesses and academic research organisations.