Summit Partners Makes Growth Equity Investment in IDT
![](/46/pdcnewsitem/03/31/80/zXGiViEJu4Sgl8s.png)
Integrated DNA Technologies (IDT) announced today a minority investment by growth equity investor Summit Partners. IDT’s founder, Dr Joseph Walder, will remain the company’s majority owner. Additional terms of the investment were not disclosed.
IDT is the world’s largest manufacturer of custom nucleic acid products. The company supplies scientists with synthetic DNA and RNA sequences, serving the academic research, biotechnology, clinical diagnostics, and pharmaceutical sectors. IDT develops innovative products while providing unmatched product value, excellent delivery times, and personalised customer service.
“Our success is based on the highest quality custom biology products, delivered quickly, and a significant investment in research and development,” said Dr Walder. “My team and I have gotten to know Summit over several years and we are confident they will add significant value to our organization. We look forward to partnering with Summit to grow our business.”
“We are very enthusiastic about working with Dr Walder and the team at IDT,” said Michael Anderson, a Principal at Summit Partners who joined IDT’s Board of Directors. “IDT is the clear market-leader in the field of synthetic DNA, serving a very large and diversified customer base. The strong and long-term relationships that the company has built with its customers are extremely impressive.”
Craig Frances, MD, a Managing Director with Summit Partners who also joined IDT’s Board, added: “IDT has the highest quality products and best customer service in the world, which is why more than 82,000 researchers rely on the company. Dr Walder and his team are truly pioneers in the life science tools sector and we are very pleased to be their partner.”
Related News
-
News Ophthalmologic drug product Eylea faces biosimilar threats after FDA approvals
Regeneron Pharmaceutical’s blockbuster ophthalmology drug Eylea is facing biosimilar competition as the US FDA approves Biocon’s Yesafili and Samsung Bioepis/Biogen’s Opuviz. -
News ONO Pharmaceutical expands oncology portfolio with acquisition of Deciphera
ONO Pharmaceutical, out of Japan, is in the process of acquiring cancer-therapy maker Deciphera Pharmaceuticals for US$2.4 billion. -
News First offers for pharma from Medicare drug price negotiations
Ten high-cost drugs from various pharma manufacturers are in pricing negotiations in a first-ever for the US Medicare program. President Biden’s administration stated they have responded to the first round of offers. -
News Eli Lilly’s Zepbound makes leaps and bounds in weight-loss drug market
In the last week, Eli Lilly has announced their partnership with Amazon.com’s pharmacy unit to deliver prescriptions of Zepbound. Zepbound has also surpassed Novo Nordisk’s Wegovy for the number of prescriptions for the week of March 8.&nbs... -
News Chasing new frontiers at LEAP – The National Biotechnology Strategy Keynote
On the third day of LEAP (4–7 March 2024, Riyadh Exhibition and Convention Centre, Malham, Saudi Arabia) the CPHI Middle East team hosted the Future Pharma Forum, to set the scene for an exciting new event for the pharma community, coming to Riya... -
News Pfizer maps out plans for developing new oncology therapeutics by 2030
Pfizer dilvulges plans to investors around growing their cancer portfolio, and the drugs they will be focusing on developing after their aquisition of Seagen in 2023. -
News Generics threat to Merck’s Bridion as Hikma seeks pre-patent expiry approval
Merck has disclosed they received notice from Hikma Pharmaceuticals for seeking a pre-patent expiry US FDA approval for Hikma’s generic version of Merck’s Bridion. -
News Bernie Sanders vs Big Pharma - the latest on drug price negotiations
In a hearing in front of the US Senate, three of the biggest pharmaceutical companies in America are challenged over exorbitant prescription drug prices, with Sanders claiming their actions are limiting the population's access to affordable healthc...
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance