1315 Capital has acquired the Life Sciences and Diagnostics (LSDx) division of Argonaut Manufacturing Services, according to a news release.
The LSDx business will operate independently as Aluris Sciences. Aluris is a contract manufacturing partner providing manufacturing solutions for life sciences, diagnostics and combination drug product customers.
1315 Capital, founded in 2014 and based in Philadelphia, is a healthcare-focused growth equity firm that invests in commercial-stage companies across healthcare services, pharma/medtech products, pharma/medtech outsourcing, and health and wellness. The firm makes equity investments of $15 million to $50 million in businesses with the potential to scale to $50 million to $200 million of revenue.
Terms of the transaction were not disclosed.