Kindeva Drug Delivery, a leading global contract development and manufacturing company that produces transdermal patches, inhalers and other medical products, plans to build a 136,000-square-foot facility in Woodbury, Minnesota.
The new operations center will include a distribution warehouse, and a light-industrial facility. Kindeva, which expects to break ground on the project sometime this year, plans to receive Department of Employment and Economic Development funding to offset the cost of the project.
In May Kindeva Drug Delivery, formerly 3M Drug Delivery Systems, launched as an independent company following the acquisition by Altaris Capital Partners in a transaction valued at $650M. As part of the transaction, 3M retains a 17% minority interest in Kindeva alongside Altaris.
Earlier this year Aaron Mann, CEO of Kindeva Drug Delivery explained “Kindeva brings deep expertise to the unique challenges of developing combination products and complex drugs, including those that are playing an important role in the fight against COVID-19. Over the years, 3M has built a differentiated platform of drug delivery technologies and I look forward to the opportunities ahead for Kindeva as an independent company in partnership with Altaris. We will be executing an ambitious growth plan that involves significant capital investment and the addition of new jobs across our operating regions. This is an exciting time for Kindeva and our talented colleagues."
"We are excited to be partnering with 3M and the Kindeva team in this transaction," said George Aitken-Davies, Managing Director of Altaris said in May. "We believe Kindeva is well positioned to build on its successful track record as a leading provider of drug delivery technologies."
Kindeva is a global organization with cGMP manufacturing operations in Loughborough, UK; Clitheroe, UK; Northridge, CA; and St. Paul, MN; and state-of-the-art R&D laboratories in Loughborough and St. Paul. Products manufactured by Kindeva are distributed to over 60 countries worldwide.