Bloomington-based Donaldson Co. has made another acquisition for its growing Life Sciences segment.
The technology-led filtration company announced that it has acquired Isolere Bio Inc. Based in Durham, N.C., Isolere is an early-stage biotechnology company meaning it has yet to produce any revenue.
Isolere's technology is promising and fits within the broader mission of Donaldson's growing Life Sciences segment. Its propriety reagents and filtration processes are used to make biopharmaceuticals.
"With the integral addition of Isolere to our Life Sciences portfolio, Donaldson is positioned to create premier separation and filtration solutions for emerging genetic-based drugs," said Tod Carpenter, chairman, president and chief executive of Donaldson in a news release. "We look forward to accelerating Isolere's growth trajectory through sales synergies from our recent acquisitions of Solaris Biotechnology and Purilogics."
In 2022, Donaldson added Solaris Biotechnology and Purilogics through acquisition and in November announced an organization redesign making Life Sciences a new reporting segment and adjusting its two main segments Mobile Solutions and Industrial Solutions.
Isolere was formed in 2017 by Kelli Luginbuhl, Ashutosh Chilkoti and Joe McMahon.
"Isolere is thrilled to join the Donaldson family and bring our novel affinity-phase separation technology to market," said Kelli Luginbuhl,co-founder and chief executive in a news release. "Our technology, complemented by Donaldson's filtration excellence, is part of a larger vision to bring end-to-end solutions to the life sciences industry."
Donaldson will have an investor day this spring to give more details on the segment redesign but did publish pro-forma financial results that showed the contribution of each segment over the last few fiscal years.
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