- Transformative acquisition creates global cell and gene therapy manufacturing 
services platform for both clinical and commercial products 

- EW Healthcare Partners and its co-investors provide the financing for the 
transaction

Cognate BioServices (Cognate), a leading contract development and manufacturing 
organization (CDMO) specialized in cell and cell-mediated gene therapy products 
and Cobra Biologics (Cobra), a leading CDMO specialized in providing 
manufacturing services for plasmid DNA and viral vector, today announced that 
they have entered into a definitive agreement in which Cognate will acquire all 
of the outstanding share capital of Cobra. Existing Cognate investor EW 
Healthcare Partners led the financing for the acquisition. 

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The transaction creates an industry-leading enhanced services provider 
delivering drug development and manufacturing solutions to the global cell and 
gene immunotherapy and regenerative medicine industries. Together, Cognate and 
Cobra will be well positioned to leverage their decades of industry knowledge 
and experience, provide an integrated supply chain for their clients, and 
expand their global capability to provide better and more scalable solutions to 
support the ever-changing needs of their clients.

"This acquisition is central to Cognate's strategy to build on its existing 
offerings and create an enterprise platform for life cycle management of cell 
and gene therapy products, accelerating the availability of new technologies to 
patients that need them most," said J. Kelly Ganjei, CEO of Cognate. "Cobra is 
a well-established leader in the development and manufacture of a variety of 
DNA and viral vectors that our current and prospective clients urgently need. 
With an impressive performance history and reputation in supporting cell and 
gene therapy product developers navigating through development and 
manufacturing challenges and capacity needs, the combined Cognate-Cobra 
expertise, infrastructure, and geographical footprint immediately positions 
both businesses to better respond to current and future market needs more 
quickly, effectively, and comprehensively." 

Evis Hursever, Managing Director at EW Healthcare Partners, said, "EW 
Healthcare Partners is delighted to have the opportunity to back the Cognate 
team as they drive the growth and the transformation of the business into a 
leading provider in the cell and gene therapy space.  We look forward to 
continuing to support the Company and the exceptional management team as they 
capitalize on the growth opportunities ahead and achieve their ambitious growth 
plans."

Peter Coleman, CEO of Cobra Biologics, said, "Cobra Biologics has built its 
reputation in providing high quality process development, manufacturing and 
fill/finish services for plasmid DNA, viral vector, and proteins.  Joining 
forces with Cognate is exciting, positioning the combined Cognate-Cobra as a 
leading service provider across the advanced therapy supply chain.  The 
acquisition by Cognate will strengthen Cobra's capability and capacity, 
broadening our service offering for both new and existing customers."

This transaction further supports Cognate's mission to meet the needs of the 
ultimate consumer of its services -- the patients with unmet medical needs, 
focused on addressing the growing demand for rapid access to advanced 
manufacturing capabilities integrated into a commercial-scale manufacturing 
environment.  

The Company will continue to be supported by its existing investors.  EW 
Healthcare Partners and Medivate Partners participated in this round of funding 
for the acquisition of Cobra, and Blackrock and the sovereign wealth fund will 
also continue to partner with the Company. 

The transaction is subject to receipt of approval under the Hart-Scott-Rodino 
Antitrust Improvements Act of 1976.

About Cognate BioServices, Inc.

Cognate is a dynamic, results-driven, organization focused on providing the 
broadest range of commercialization services to regenerative medicine, cellular 
immunotherapy and advance cell therapy companies. Cognate provides a unique 
combination of custom services to companies across all points of clinical and 
commercial development specializing in mid to late stage clinical trials and 
supporting our clients through product scale-up into commercial manufacturing. 
Cognate applies the knowledge and expertise of its business, scientific and 
technical teams to successfully develop autologous and allogeneic products 
across multiple cell-based technology platforms from start to finish. 
http://www.cognatebioservices.com

About Cobra Biologics:

Cobra Biologics is a leading international advanced therapy CDMO with GMP 
approved facilities in both Sweden and the UK each with an extensive track 
record in serving our global client base. We offer a broad range of integrated 
and stand-alone services for both the clinical and commercial market. As a 
trusted provider and a key partner in the drug development and 
commercialization process, we take pride in our manufacturing excellence and 
comprehensive range of services to the pharmaceutical and biotech industries. 
For more information please visit: www.cobrabio.com

About EW Healthcare Partners:

With close to $4 billion raised since inception, EW Healthcare Partners is one 
of the largest and oldest private healthcare investment firms and seeks to make 
growth equity investments in fast growing commercial-stage healthcare companies 
in the pharmaceutical, medical device, diagnostics, and technology-enabled 
services sectors in the United States and in Europe. Since its founding in 
1985, EW Healthcare Partners has maintained its singular commitment to the 
healthcare industry and has been a long term investor in over 150 healthcare 
companies, ranging across sectors, stages and geographies. The team is 
comprised of over 20 senior investment professionals with offices in Palo Alto, 
Houston, New York, and London. For more information, see www.ewhealthcare.com. 

About Medivate Partners:

Medivate is a private equity and venture capital firm that focuses investment 
in biotech/healthcare industry in Asia and North America. The firm is well 
positioned to capture surging healthcare investment opportunities between Asia 
and North America, and looks to arbitrage the unique cross border investment 
advantages. While closing its third fund, Medivate Partners quickly built a 
reputation for providing inner circle access to top caliber syndicates and 
successful life science deals in Asia and North America.

For our latest news, please visit 
https://www.cognatebioservices.com/category/press-releases/

For more information, please contact James Wilkerson at 901-969-8981.

SOURCE Cognate BioServices; Cobra Biologics