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Tata Group has agreed to sell its contract research company Advinus Therapeutics to Luxembourg-based Eurofins Scientific, for an undisclosed sum.
Advinus is owned by Tata Sons, Tata Industries and Rallis India and a few individual shareholders.
The transaction is expected to close in the next several weeks, subject to the fulfillment of customary closing conditions. Advinus’ expertise complements Eurofins contract research, development and manufacturing (CDMO) capabilities, the company said in a statement.
Located in Bangalore, Advinus is a pre-clinical contract research company for safety Assessment, CMC Services, DMPK and Analytical R&D Services.
Advinus serves diverse industries such as biotech, pharmaceuticals, biologics, agrochemicals, nutraceuticals and cosmetics.
“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,” said KRS Jamwal, Chairman of Advinus and Executive Director of Tata Industries.
Advinus has submitted over 50 end-to-end investigational new drug applications 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.
“Advinus has substantial capabilities that are in synergy with Eurofins and provide us with additional opportunities to grow the Company. We are excited about becoming a part of the Eurofins family,” Rajiv Malik, Chief Executive Officer of Advinus said.
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