Arcline Investment Management to acquire a majority stake in Akron Biotechnology.

Arcline Investment Management, a growth-oriented private equity firm with $1.5bn of capital under management, acquired a majority interest in Akron Biotechnology, a leading supplier of cGMP-compliant products and services critical for the production of advanced therapy medicinal products, including cell therapies, gene therapies and engineered tissues. Financial terms were not disclosed. "We recognize that the cell and gene therapy industry has reached a critical juncture. With so many therapy developers progressing through advanced stages of clinical development, the demand for cGMP-grade materials will increase dramatically in the near future. We are delighted to partner with Arcline to substantially expand Akron's capacity to meet this growing demand for the benefit of the entire regenerative medicine industry and the patients it serves," Dr. Claudia Zylberberg, Akron Founder and CEO.