Eurofins expands its leadership in biopharmaceutical services with the acquisition of Advinus Therapeutics
Wednesday, July 26, 2017
Eurofins Scientific (EUFI.PA), a global leader in bio-pharmaceutical product testing services, announces that it has signed an exclusive agreement with Tata Group to acquire Advinus Therapeutics (“Advinus”), a leading preclinical and clinical phase contract research company for Safety Assessment, DMPK, CMC services, and Analytical R&D Services. The transaction is expected to close in the next few weeks, subject to the fulfilment of customary closing conditions.
With over 25 years of GLP compliance and certification, Advinus serves diverse industries such as Biotech, Pharmaceuticals, Biologics, Agrochemicals, Nutraceuticals and Cosmetics. Advinus has submitted over 50 end-to-end investigational new drug applications (INDs) to global regulators such as the US Food and Drug Administration (FDA), the European Medicines Agency (EMA), the Medicines and Healthcare products Regulatory Agency in the UK (MHRA) and Health Canada among others. Located in Bangalore, India, the company operates a state-of-the art 20,000 m2 facility on a large campus with ample space for expansion. The company generated revenues of EUR 17m in the Fiscal Year ending 31 March 2017 with over 300 staff.
Advinus’ expertise complements Eurofins recent contract research, development and manufacturing (CDMO) capabilities following the acquisitions of Alphora in Canada and Amatsigroup in Europe. The company provides GMP testing and manufacturing capabilities, and is well positioned to capitalize on the growing R&D outsourcing market in the Asia-Pacific region.
Comment from Mr. KRS Jamwal, Chairman of Advinus and Executive Director of Tata Industries: “Advinus has developed significant promise under Tata parenting, and will now realise its full potential joining the Eurofins family of laboratories. We are confident that with access to Eurofins’ global network and technical competencies, Advinus will be able to rapidly expand its analytical portfolio and services to benefit all its existing and future clients.”
Comment from Dr. Gilles Martin, Eurofins CEO: “We are pleased to welcome Advinus Therapeutics to the Eurofins Group. Advinus’ competencies and footprint further strengthen Eurofins’ global leadership in the rapidly-growing biopharmaceutical testing market. We are committed to supporting Advinus’ further development by providing access to the full range of services and capabilities of the Group to the company and its clients.”
For more information, please visit www.eurofins.com or contact:
Phone: +32 2 766 1620
Notes for the editor:
Eurofins – a global leader in bio-analysis
Eurofins Scientific through its subsidiaries (hereinafter sometimes “Eurofins” or “the Group”) believes it is the world leader in food, environment and pharmaceutical products testing and that it is also one of the global independent market leaders in certain testing and laboratory services for agroscience, genomics, discovery pharmacology and for supporting clinical studies. In addition, Eurofins is one of the key emerging players in specialty clinical diagnostic testing in Europe and the USA. With over 30,000 staff in 375 laboratories across 41 countries, Eurofins offers a portfolio of over 130,000 analytical methods for evaluating the safety, identity, composition, authenticity, origin and purity of biological substances and products, as well as for innovative clinical diagnostic. The Group objective is to provide its customers with high-quality services, accurate results on time and expert advice by its highly qualified staff.
Eurofins is committed to pursuing its dynamic growth strategy by expanding both its technology portfolio and its geographic reach. Through R&D and acquisitions, the Group draws on the latest developments in the field of biotechnology and analytical chemistry to offer its clients unique analytical solutions and the most comprehensive range of testing methods.
As one of the most innovative and quality oriented international players in its industry, Eurofins is ideally positioned to support its clients’ increasingly stringent quality and safety standards and the expanding demands of regulatory authorities around the world.
The shares of Eurofins Scientific are listed on the Euronext Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg ERF FP).
This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgement of Eurofins Scientific’ management as of the date of this release. These forward-looking statements are not guarantees for future performance, and the forward-looking events discussed in this release may not occur. Eurofins Scientific disclaims any intent or obligation to update any of these forward-looking statements and estimates. All statements and estimates are made based on the information available to the Company’s management as of the date of publication, but no guarantee can be made as to their validity.