Monroe Capital LLC announced it acted as Co-Syndication Agent in the funding of a senior credit facility and equity co-investment to support the acquisition of Kindeva Drug Delivery L.P. (“Kindeva”) by Altaris Capital Partners.

Based outside of St. Paul, Minnesota, Kindeva is a unique Contract Development and Manufacturing Organization (“CDMO”) focused on both drugs and their delivery devices, particularly inhalation, including asthma inhalers; transdermal, or patches that deliver drugs; and other systems. The company’s microneedle-based drug delivery platforms are currently being utilized in dozens of development programs, including programs for COVID-19 vaccines and other difficult-to-deliver therapies. Kindeva is a carve-out of the 3M Drug Delivery Systems Division. 3M is a diversified industrials conglomerate operating across multiple sectors, including consumer, telecommunications, security, healthcare and transportation.