GALWAY, Ireland--(BUSINESS WIRE)--Aerogen, the world leader in acute care aerosol drug delivery, today announced that Temasek, a global investment company headquartered in Singapore, has acquired a minority stake in Aerogen through the purchase of a secondary share interest. Financial terms of the transaction were not disclosed.
John Power, founder and CEO of Aerogen, remarked, “We are excited to realize the growth opportunities this collaboration will bring. Temasek, our partner of choice, has deep global and sector expertise, which will accelerate our market penetration.”
Following the closing of the transaction, Abhijeet Lele, Temasek’s Managing Director of Investment, and Steven Gannon, former SVP and CFO of Aptalis, will join Aerogen’s board of directors.
With Aerogen’s technology already in use in over 75 countries, Lele and Gannon’s global experience in developmental and commercial stage medtech and pharma companies will be significant in accelerating the company’s ambition to be the standard of care for acute care aerosol drug delivery and in the launch of the drug device solutions in development by Aerogen Pharma (subsidiary).
Originally founded as Cerus Medical Devices, in Galway, Ireland in 1997, Aerogen now employs over 200 people worldwide. The company, synonymous with scientific excellence, and with a wealth of international awards, has a strong international presence with offices in Ireland, UK, Germany, United States, Middle East and Asia.
Aerogen specialises in the design, manufacture and commercialisation of aerosol drug delivery systems. Aerogen’s patented vibrating mesh technology turns liquid medication into a fine particle mist, gently and effectively delivering drugs to the lungs of patients, enhancing outcomes and giving healthcare professionals a higher level of confidence and control.
Aerogen’s subsidiary, Aerogen Pharma, a Specialty Pharmaceutical Business unit based in Galway and San Mateo, California, is harnessing Aerogen’s proprietary vibrating mesh technology to develop drug-device combination products. These new products seek to improve the efficacy of specific drugs by precision targeting their delivery to the lungs.
Incorporated in 1974, Temasek is a global investment company headquartered in Singapore. Supported by a network of international offices, the company has S$308 billion (€191b) portfolio as of 31 March 2018, with significant exposure to Singapore and the rest of Asia. Temasek investment activities are guided by four investment themes and the long term trends they represent: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions. The company investment strategy allows them to capture opportunities across the sectors in which they invest that help bring about a better, smarter and more connected world.