• Adalvo was founded in 2018 by Aztiq and is one of the leading business-to-business pharmaceutical companies in Europe
• EQT will support Adalvo’s next phase of growth, expanding its geographic footprint, and advancing the operational scale-up of the business
• Aztiq will remain a minority shareholder and support EQT in advancing Adalvo’s mission

 Aztiq has sold the majority of its share in Adalvo to EQT, a global investment organization that owns a portfolio of companies and assets in Europe, Asia Pacific and the Americas. Adalvo was founded by Aztiq in 2018 and is one of the leading business-to-business pharmaceutical companies in Europe, with more than 280 employees, and 170 commercial partnerships globally in more than 140 countries.

“Like all other companies we have founded, Adalvo has been focused on meeting the growing demand globally for better access to high-quality, yet affordable medications. When we founded Adalvo together in 2018 our vision was to revolutionize the important business-to-business segment of the pharmaceutical industry and enable our partners world-wide to meet this growing demand. I am immensely proud of what Adalvo and its leadership team have achieved in such a short period of time. I would like to congratulate EQT on the acquisition of this amazing company, and am confident that under their stewardship Adalvo will continue to flourish and achieve even greater success. I look forward to working with EQT on advancing Adalvo’s mission, as a minority shareholder,” said Robert Wessman, founder and chairman of Aztiq.

“EQT is deeply impressed by Adalvo’s competitive position in dossier development, with an agile and scalable model for development and partnerships with leading pharmaceutical companies globally. We look forward to joining forces with the entrepreneurial and highly respected management team, led by CEO Anil Okay, and to investing in the next chapter of continued growth. Looking ahead, we are committed to supporting Adalvo and its employees as we continue to support innovation, expand its geographic footprint, and scale its operations and supply chain to support continued success. We are impressed by what Adalvo has achieved under Robert Wessman's ownership and are delighted that he will also be part of the next phase of the journey as minority shareholder,” said Matteo Thun, Partner at EQT.

Anil Okay, CEO of Adalvo, added: “Over the past seven years, we’ve built a dynamic and innovative platform that supports our partners globally and delivers better healthcare outcomes. We’re excited to welcome EQT as a strategic partner, whose long-term vision, cultural alignment, and demonstrated track record in healthcare make them an ideal match to support Adalvo’s continued expansion.”

On the seller side Jefferies acted as financial advisor and Hogan Lovells was the legal advisor. The transaction is subject to customary conditions and approvals. It is expected to close during H2 2025.