- Argonaut Manufacturing Services has completed the sale of its Life Sciences and Diagnostics (LSDx) division to healthcare-focused private equity firm 1315 Capital.
- The LSDx business will operate independently as Aluris Sciences, while Argonaut will reinvest proceeds from the transaction into its core operations, including fill-finish capacity and services.
Argonaut Manufacturing Services has completed the sale of its Life Sciences and Diagnostics (LSDx) division to 1315 Capital, a Philadelphia-based healthcare-focused private equity firm. The LSDx business will operate independently under the name Aluris Sciences, with 1315 Capital supporting its continued growth and investment. Ownership of Argonaut remains with Telegraph Hill Partners, New Vale Capital, and management.
The transaction covers only the LSDx division. Argonaut said it will reinvest the proceeds from the sale into its core operations, including expanding its aseptic fill-finish capacity and services for high-value injectable biologics and pharmaceuticals. The company said the two businesses already operated with largely separate staff and resources, allowing the transition to take place without disrupting existing customer programs.
For Argonaut customers, existing drug product program timelines, quality commitments, and contractual obligations remain unchanged. Clients will continue working with the same teams at Argonaut’s Carlsbad, California facilities under the same quality systems and points of contact. No drug product programs, assets, or regulatory filings were included in the transaction, and no client action or change control is required.
“This transaction marks a significant strategic milestone for both Argonaut and Aluris Sciences. Argonaut will reinvest the proceeds from the sale in its core operations, including expanding its fill-finish capacity and services.”
Rick Hancock, Chief Executive Officer of Argonaut
As Aluris Sciences, the former LSDx division will operate as an independent business under 1315 Capital’s ownership and support. Stacy Sutton, Chief Operating Officer of Aluris, said the acquisition provides additional resources to expand the business’s capabilities. KPMG Corporate Finance LLC served as Argonaut’s exclusive financial advisor for the transaction.
