Advent invests in global CRDO BioDuro

By Maggie Lynch contact

- Last updated on GMT

(Image: Getty/ Sitthiphong)
(Image: Getty/ Sitthiphong)

Related tags: CDMO, Research, Drug development, Drug development process, Biologics, Translational medicine

Advent private equity invests in BioDuro through a partnership as the latter aims to grow its research and drug development offerings.

Through the partnership, the global private equity investor Advent has made a majority investment in BioDuro, a contract research and development organization (CRDO) Financial details of the investment and partnership have not been disclosed.

BioDuro, with operations in San Diego, CA as well as Beijing and Shanghai, China, is focused on providing integrated discovery services such as synthetic and medicinal chemistry, drug metabolism and pharmacokinetics (DMPK), biologic services, and translational oncology services, including the ‘living tumor bank’ that it acquired from Molecular Responses​.

Cyrus Mirsaidi, president and CEO of BioDuro, said in a statement that Advent’s investment and partnership enables the company to allocate new capital resources globally. Additionally, BioDuro will look for opportunities for mergers and acquisitions to achieve its goals in expanding its service offerings.

Backed by Advent, BioDuro expects to invest in an operational expansion to include a new research base in China where its existing Beijing and Shanghai sites are located. It also plans to expand its current good manufacturing practice (cGMP) drug product and preclinical discovery facilities in San Diego.

As per the agreement, Advent’s operating partner David Preston become chairman of BioDuro’s board of directors alongside another operating partner at Advent, Amit Patel.

Flippio de Vecchi, managing director and co-head of Advent, greater China, said in a statement, "Advent has closely followed the U.S. and Chinese health care sector over the past years and we view our partnership with BioDuro as an excellent opportunity to capture growth in the fast growing CRO and CDMO market worldwide.”

Advent has made investments​ in the healthcare industry totaling $6.7bn ($5.8bn) over the past 28 years. The firm recently made investments in Zentiva, and Syneos Health. 

Related news

Show more

Related products

show more

Governing and Maintaining Clinical Data Standards

Governing and Maintaining Clinical Data Standards

Veeva | 10-May-2022 | Technical / White Paper

Investing in data standards plays a huge role in improving the quality of clinical studies. But often, people don’t use the standards correctly, there...

What the Best Clinical Study Build Pros Do

What the Best Clinical Study Build Pros Do

Formedix | 09-May-2022 | Technical / White Paper

Getting your clinical study designed and built ready for data collection takes A LOT of work and expertise… you've got to do all your CRF designs;...

What should a clinical metadata repository do?

What should a clinical metadata repository do?

Formedix | 18-Apr-2022 | Technical / White Paper

Choosing a clinical metadata repository (MDR) software can be a tough task as the capabilities and features of your chosen MDR could make or break your...

BMS Adopts a New Clinical Data Architecture

BMS Adopts a New Clinical Data Architecture

eClinical Solutions | 31-Mar-2022 | Case Study

In this Case Study, you will learn how Bristol Myers Squibb optimized their data review processes to streamline and improve access to their data. By implementing...

Related suppliers

Follow us

Products

View more

Webinars