PPD Continues China Expansion with Deal to Acquire Drug Discovery Company BioDuro
Less than a month after announcing its acquisition of China-based contract research organization (CRO) Excel PharmaStudies and plans to dominate the Asia-Pacific region,PPD, the Wilmington, N.C.-based global CRO has signed an agreement to acquire BioDuro LLC, a drug discovery outsourcing company. The acquisition of the 660-employee company will expand PPD's drug development capabilities in China.
Founded in 2005, BioDuro operates a 110,000-square-foot laboratory in Beijing. Most of its employees are based in China, where it provides scientific expertise in medicinal chemistry, biology, pharmacology, drug metabolism, pharmacokinetic and safety services. The company offers integrated scientific resources and services to synthesize novel compounds and optimize those compounds to generate drug development candidates.
"Under the leadership of Masood Tayebi and the entire senior management group, BioDuro has built an exceptional team of researchers and scientists whose experience extends across a broad range of drug discovery," said David Grange, CEO of PPD.
Masood Tayebi, founder and chairman of BioDuro said, "PPD shares our commitment for delivering world-class, quality services to clients. Combining our drug discovery expertise with PPD's global drug development resources will allow us to move our clients' programs from drug discovery into late-stage drug development and build upon our strong growth in China."
PPD’s recent acquisition of Excel PharmaStudies, one of the largest CROs in China, strengthens PPD's phase II through IV clinical, data management, biostatistics, regulatory and quality assurance services. After the acquisition of BioDuro is completed, PPD will employ nearly 1,000 people in China, staking a claim as the largest CRO to offer clinical development and discovery services in the country.
Grange added, "This acquisition will strengthen PPD's presence in China and our ability to provide clients an extensive range of services in this country. It will also position us well to provide services for the growing global discovery outsourcing industry and to be the full-service CRO of choice in China."