NEW YORK, Nov. 10, 2021 /PRNewswire/ -- Kiniciti, a Welsh, Carson, Anderson & Stowe ("WCAS") platform company that invests in cell and gene therapy innovation, announced today that Biospring Partners has joined WCAS as an investor in Kiniciti. Dr. Michelle Dipp, Biospring's Managing Partner, will serve on Kiniciti's Board of Directors.
Kiniciti was founded earlier this year to empower partner companies with the resources, expertise, and capital to help accelerate the advancement, manufacturing, and adoption of cell and gene therapies ("CGT"). Kiniciti will invest in non-therapeutic companies supporting CGT innovation, which have the potential to transform the cell and gene therapy ecosystem and deliver the promise of CGT to impact patients' lives. Principal focus areas for investment include companies with: transformational capabilities in cell engineering and gene-editing; cell sources and other value-added starting materials; process science and scale-up tools and services; production technologies; and, source-to-patient delivery.
"We've had the pleasure of getting to know the Biospring team this year, and we're excited to welcome them as value-add investors," said Geoff Glass, CEO of Kiniciti.
"Biospring brings well-established, and highly complementary, expertise and network that will help us continue to grow Kiniciti," said Nicholas O'Leary, WCAS General Partner.
"Cell and Gene Therapy is one of the fastest growing therapeutic classes, and we believe that it represents the future of medicine over the next decade. We are excited to back the Kiniciti team, who are at the forefront of industrializing technologies and manufacturing for biopharmaceutical companies discovering novel CGT therapies," said Michelle Dipp, Managing Partner at Biospring Partners.
Kiniciti, a platform company of leading private equity firm Welsh, Carson, Anderson & Stowe (WCAS) and Biospring Partners, invests in and partners with companies that have the potential to transform and strengthen the cell and gene therapy ecosystem. With a highly tailored, collaborative, and flexible investment and strategic support model, Kiniciti aims to ensure the promise of cell and gene therapeutics is delivered quickly and safely to patients worldwide. The company's leadership team includes professionals experienced in investing in and building successful companies across the life sciences sector. For more information, visit kiniciti.com.
About Welsh, Carson, Anderson & Stowe
WCAS is a leading U.S. private equity firm focused on two target industries: technology and healthcare. Since its founding in 1979, the firm's strategy has been to partner with outstanding management teams and build value for its investors through a combination of operational improvements, growth initiatives and strategic acquisitions. WCAS has deep experience in acquiring founder-led businesses and corporate carve-outs. The firm has raised and managed funds totaling over $27 billion of committed capital. For more information, please visit wcas.com.
About Biospring Partners
Biospring Partners is a growth equity firm that invests in healthcare technology. Founded in 2020, Biospring leverages its deep experience in the life sciences and technology industries to support companies that are driving innovation across the healthcare industry and beyond. For more information, visit biospring.com.
SOURCE Kiniciti; Welsh, Carson, Anderson & Stowe; Biospring Partners