Life science platform company VION Biosciences has further expanded its portfolio with the acquisition of Echelon Biosciences.
The newly acquired firm supplies critical materials including lipid-based excipients.
As agreed, Echelon will now run as a subsidiary of VION utilising the latter’s resources and infrastructure. It will also continue to serve its existing customers.
Echelon’s technical and commercial leadership will also continue with the company.
Salt Lake City-based Echelon provides lipid synthesis and the engineering of lipid nanoparticles. This will help in unleashing the power of mRNA-based therapies including vaccines and gene therapies.
The acquisition will strengthen VION’s core strengths in the drug discovery through pre-clinical space. It will also enable the company to foray into drug manufacturing sector.
Additionally, VION aims to hire new resources and through the end of this year and into early 2025 to bolster the team.
VION Biosciences CEO Mark Thornton said: “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.”
VION Biosciences is backed by healthcare and specialty industrials-focused private equity firm Iron Path Capital.
Last year, the company acquired Aldon Corporation, a private label chemical manufacturer.
