Advent International, a Boston-based private equity investor, will make a majority investment in BioDuro. BioDuro is a US-China CRO with facilities in San Diego, Beijingand Shanghai. The exact size of the investment was not disclosed. BioDuro was formed in 2005 as a Beijing-based CRO with headquarters in San Diego. In 2009, the Chinaoperations were acquired by PPD, the global CRO, for $73 million. It became an independent entity once again in 2015, acquired by its original owners. It then merged with Formex, a San Diego API formulation, development and cGMP manufacturing company.
Source: China Biotoday
