PPD, Inc. (PPDI) Agrees to Acquire BioDuro
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PPD, Inc. (NASDAQ: PPDI) today announced it has signed an agreement to acquire BioDuro LLC, a drug discovery outsourcing company that provides a broad range of integrated services to biopharmaceutical companies. The acquisition will expand PPD's drug development capabilities in China.
Founded in 2005, BioDuro operates a state-of-the-art, 110,000-square-foot laboratory in Beijing. Most of its approximately 660 employees are based in China, where it provides deep scientific expertise in medicinal chemistry, biology, pharmacology, drug metabolism, pharmacokinetic and safety services. The company offers extensive, fully integrated scientific resources and services to synthesize novel compounds and optimize those compounds to generate drug development candidates.
BioDuro currently works with nine of the 12 largest pharmaceutical companies. After the acquisition closes, PPD and BioDuro will perform a broad range of research and development services for large pharmaceutical clients from early stage through Phase IV.
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