Monroe Capital acted as co-syndication agent in the funding of a senior credit facility and equity co-investment to support the acquisition of Kindeva Drug Delivery by Altaris Capital Partners.
Based outside of St. Paul, MN, Kindeva is a contract development and manufacturing organization (CDMO) focused on both drugs and their delivery devices. The company’s microneedle-based drug delivery platforms are currently being utilized in dozens of development programs, including programs for COVID-19 vaccines and other difficult-to-deliver therapies. Kindeva is a carve-out of the 3M Drug Delivery Systems Division. 3M is a diversified industrials conglomerate operating across multiple sectors, including consumer, telecommunications, security, healthcare and transportation.
Monroe Capital is a private credit asset management firm specializing in direct lending and private credit investing.
