Asia-based CRO group secures investment from private equity
OPC Holding Company (OPC) has three major subsidiaries including Protech Pharmaservices Corporation (PPC), A+ Inc., and APC.
PPC provides early stage development services, including Phase I pharmacokinetics (PK) and bioequivalence (BE) trials. A+ Inc. is a Pan-Asian-based CRO that focuses on later-stage development services. Initiated in February 2017, APC is a joint venture with Xuzhou Medical University and includes a specialized BE/Phase I unit.
The companies’ presence spans mainland China, Taiwan, South Korea, and Japan.
As part of the transaction, terms of which were not disclosed, OPC’s founder Jason Chen will transition to the role of chairman.
“Mr. Jason Chen and the management team have built OPC into one of the leading CROs in Taiwan,” commented Scott Chen, partner at TPG in the company’s press release.
“On the back of new regulations that aim to raise drug quality to international standards, China’s pharmaceutical industry has entered a new phase of innovation-driven growth. This new regulatory context includes the requirement for a large portion of generic drugs to, within a tight timeframe, re-conduct bioequivalence trials creating demand that outstrips existing supply,” Chen added.
TPG also recently invested in the Sydney-based CRO, Novotech.
The firm has previously invested in IMS, Quintiles, and EnvisionRX as well as Adare, Aptalis and Par Pharmaceutical, among others.
TPG did not respond to a request for comment.
