Eurofins Scientific has signed an exclusive agreement with Tata Group to acquire Advinus Therapeutics. 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.
“Advinus has developed significant promise under Tata parenting, and will now realise its full potential joining the Eurofins family of laboratories,” KRS Jamwal, Chairman of Advinus and Executive Director of Tata Industries said. “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.”