Donaldson Acquires Isolere Bio, Continuing to Build Life Sciences Business

Donaldson Company, Inc. (NYSE: DCI), a leading worldwide provider of innovative filtration products and solutions, today announced the acquisition of Isolere Bio, Inc. (Isolere), an early-stage biotechnology company that develops novel and proprietary IsoTag™ reagents and accompanying filtration processes used for the purification and streamlined manufacturing of biopharmaceuticals. Aimed initially at the purification of viral vectors used for cell and gene therapies, IsoTag™ reagents are designed to substantially improve product quality and purity with faster timelines compared to competing solutions, enabling accelerated and more affordable delivery of life-changing therapies to patients globally.

“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 officer of Donaldson. “We look forward to accelerating Isolere’s growth trajectory through sales synergies from our recent acquisitions of Solaris Biotechnology and Purilogics and through the strength of our balance sheet.”

“Isolere is thrilled to join the Donaldson family and bring our novel affinity-phase separation technology to market,” said Kelli Luginbuhl, Ph.D, co-founder and chief executive officer of Isolere. “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.”

Founded in 2017 by Kelli Luginbuhl, Ph.D, Professor Ashutosh Chilkoti, and Joe McMahon, Isolere is headquartered in Durham, North Carolina. Once commercialized, revenue from Isolere will be reported within the Donaldson Life Sciences segment.

Statements in this release regarding future events and expectations, such as forecasts, plans, trends and projections relating to the Company’s business and financial performance, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are identified by words or phrases such as “will likely result,” “are expected to,” “will continue,” “will allow,” “estimate,” “project,” “believe,” “expect,” “anticipate,” “forecast,” “plan” and similar expressions. These forward-looking statements speak only as of the date such statements are made and are subject to risks and uncertainties that could affect the Company’s performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed. These factors include, but are not limited to, challenges in global operations; impacts of global economic, industrial and political conditions on product demand, including the Russia and Ukraine conflict; impacts from unexpected events, including the COVID-19 pandemic; effects of unavailable raw materials or material cost inflation; inability to attract and retain qualified personnel; inability to meet customer demand; inability to maintain competitive advantages; threats from disruptive technologies; effects of highly competitive markets with pricing pressure; exposure to customer concentration in certain cyclical industries; inability to manage productivity improvements; results of execution of any acquisition, divestiture and other strategic transactions; vulnerabilities associated with information technology systems and security; inability to protect and enforce intellectual property rights; costs associated with governmental laws and regulations; impacts of foreign currency fluctuations; and effects of changes in capital and credit markets. These and other factors are described in Part I, Item 1A, “Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2022. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.

About Donaldson Company, Inc.

Founded in 1915, Donaldson (NYSE: DCI) is a global leader in technology-led filtration products and solutions, serving a broad range of industries and advanced markets. Our diverse, skilled employees at over 140 locations on six continents partner with customers—from small business owners to the world’s biggest OEM brands—to solve complex filtration challenges. Discover how Donaldson is Advancing Filtration for a Cleaner World at www.Donaldson.com.

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