Cold chain firm AeroSafe Global secures $31.m

By Melissa Fassbender contact

- Last updated on GMT

(Image: Getty/Ricok69)
(Image: Getty/Ricok69)

Related tags: Cold chain, AeroSafe Global, Logistics

AeroSafe Global has received an investment of $31.5m from several companies in order to expand its service offerings and geographical footprint.

Peloton Equity (Peloton), accounts managed by Hamilton Lane, and other existing investors including Flexstone Partners, were involved in the growth capital investment.

The outsourced cold-chain-as-a-service (CCaaS) solutions company will use the funding to launch additional services and technologies as well as for expansion into new geographies.

According to AeroSafe, which is based in Rochester, NY, more than 30 Fortune 500 pharmaceutical and health care companies are currently customers for which it provides temperature-sensitive drug and device delivery.

Among the company’s clients, per its website, are Eli Lilly, Gilead, Pfizer, Amgen, and Allergan.

"The market AeroSafe serves is massive and is becoming an increasingly important component of the global pharma supply chain. Peloton has been looking for differentiated growth companies in this space for a long time, and we are particularly impressed with AeroSafe’s re-use business model, product technology and customer service performance,"​ said Justin Yang, partner at Peloton Equity, who will join the AeroSafe board of directors with Peloton co-founder Ted Lundberg.

AeroSafe CEO Jay McHarg added in a statement: "Our transformation from a product company to a leading-edge, technology-based service company has enabled us to become a partner, rather than a vendor, to our customers … This investment will allow AeroSafe to continue to innovate to meet the market’s evolving cold chain needs."

Related news

Show more

Related products

show more

Laboratory Solutions for COVID-19 Clinical Trials

Laboratory Solutions for COVID-19 Clinical Trials

Q2 Solutions | 10-Jun-2020 | Clinical Study

As a leading laboratory services organization for trials across the globe, we are proud to partner with clients to support COVID-19 clinical trials. Our...

Parents as Gatekeepers for Children with Cancer

Parents as Gatekeepers for Children with Cancer

PRA Health Sciences | 08-Jun-2020 | Technical / White Paper

The RACE for Children Act will require new drugs intended for adult cancer treatment to also be studied in pediatric cancers when the molecular target...

RACE Act Prompts Pediatric Oncology Trials

RACE Act Prompts Pediatric Oncology Trials

PRA Health Sciences | 04-May-2020 | Technical / White Paper

Many providers prescribe drugs off-label to pediatric patients, even though there have been few pediatric trials for many of these drugs. In response,...

Manufacturing Cyto and Non-Cyto Drugs in One Facility

Manufacturing Cyto and Non-Cyto Drugs in One Facility

Baxter BioPharma Solutions | 01-Mar-2020 | Technical / White Paper

Recent market reports suggest increasing product niches, which may lead to decreasing numbers of units per product, making dedicated facilities less practical....

Related suppliers

Follow us

Products

View more

Webinars