Argonaut Manufacturing Services has completed the sale of its Life Sciences and Diagnostics division to 1315 Capital, a Philadelphia-based healthcare-focused private equity firm.
The divested division will now operate as an independent business under the name Aluris Sciences, with 1315 Capital backing its continued growth and development.
Argonaut, known in the industry as a contract development and manufacturing organisation, specialises in aseptic fill-finish of high-value injectable biologics and pharmaceuticals.
The transaction involved only the Life Sciences and Diagnostics division, leaving Argonaut’s core business under the continued ownership of Telegraph Hill Partners, New Vale Capital, and management.
Aluris Sciences will provide contract manufacturing services across life sciences, diagnostics, and combination drug product customers, spanning formulation through to commercial production.
Chief Executive Rick Hancock described the deal as a significant turning point for both organisations, emphasising the strategic importance of the separation for each business going forward.
“This transaction marks a significant strategic milestone for both Argonaut and Aluris Sciences,” said Hancock.
Hancock also noted that the two businesses had already been operating with largely separate staff and resources before the deal was completed, easing the transition considerably.
“The two businesses already operated with largely separate staff and resources, allowing the transition to occur without disrupting any existing customer programs,” Hancock said.
The California-based CDMO’s filling capabilities span vials, prefilled syringes, and cartridges, using high-yield processes and 100% non-destructive weight verification to reduce line loss.
Argonaut operates two isolator-based filling lines designed to provide advanced contamination control and sterility assurance across global regulatory standards, including EU Annex 1.
The company also provides onsite analytical support and stability studies as part of its broader service offering to pharmaceutical and biologic clients.
The financial terms of the transaction were not disclosed by either party at the time of the announcement.