BioDuro-Sundia Announces New CEO
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-- Haijun Dong to Lead Next Phase of Growth for CRDMO --
SAN DIEGO & SHANGHAI--(BUSINESS WIRE)-- BioDuro-Sundia, a leading drug discovery and development services organization backed by Advent International, announced today the appointment of Haijun Dong, PhD, MBA as Chief Executive Officer.
Dong will take over from Cyrus K. Mirsaidi, who most recently led the company through its 2020 integration, establishing BioDuro-Sundia as the No. 3 CRDMO in the industry, with more than 2,000 employees and operations in 7 cities across China and the US. The executive team, now led by Dong, will continue to be co-located in both China and the US, providing balance for the global business units that support all aspects of drug discovery, development, and manufacturing—both drug substance and drug product.
“Our leaders and investors have executed a roadmap of successful growth for BioDuro-Sundia that has now created a natural point for the company to transition leadership. We are very fortunate to have someone of Haijun’s pedigree and vision lead our company into the next phase of that growth—both organic and inorganic,” said David Preston, Chairman of the Board, BioDuro-Sundia. “Haijun has deep China and US experience in drug discovery, development, and services, including public markets. He has incredible commitment to developing employees and customers alike. These factors make him a natural fit for a company like ours, that is so extraordinarily market and people focused.”
BioDuro-Sundia’s team and facilities have seen rapid growth in the past year, with two new sites in China—an R&D base in Wuxi City and a manufacturing center in Bengbu—that add capacity for more than 1,000 new employees.
“I am very excited to join BioDuro-Sundia, a CRDMO that has grown year after year as a major player in both capability and scale for integrated drug discovery, development and manufacturing services,” said Haijun. “The growth potential in China and the US is immense. Our recent expansions in Wuxi City and Bengbu will fuel that growth, but we expect even more on the horizon. Key to it all is operational excellence and commitment to quality—which, of course, are delivered through a team of dedicated and industry-best employees. These are values that will never change.”
Dong has been a leading General Manager & CEO in China for 10+ years, with experience in large multinational companies, including Roche and Eli Lilly. He has a strong background and formal training in both technical field and business management, a Ph.D. in Chemistry from the University of Washington, and an MBA from the China Europe International Business School. Dong has a proven track record of excellence in building and managing companies and business units, all of which have delivered market-leading results. He is also a recognized KOL in drug discovery, development, and services.
BioDuro-Sundia’s outgoing CEO, Cyrus K. Mirsaidi, joined the company as BioDuro’s CEO in 2015, and has since led the company growth from: 500 employees to 2,000+ employees and from 3 sites to 10 global sites—including acquisitions of Formex in 2015, Molecular Response in 2018, and the merger with Sundia in 2020. Mirsaidi will continue to serve as Advisor to BioDuro-Sundia’s Board of Directors and leadership team.
“On behalf of our shareholders and the Board, we wish a tremendous thank you to Cyrus, who’s vision has now established BioDuro-Sundia into the 3rd largest CRDMO with major China and US operations,” said Preston. “BioDuro-Sundia was built under his leadership over the past 5 years. We are looking forward to his continued support that will help the company and our new leadership to achieve even further success in the next 5 years, and beyond.”
BioDuro-Sundia, an Advent International portfolio company, is a leading contract research, development and manufacturing organization (CRDMO) that provides biopharmaceutical partners with fully integrated services to support drug discovery, development and manufacturing for both drug substance and drug product. The company is the industry’s third largest, with major operations in China and the US—featuring more than 2,000 employees and 10 global sites.
Core expertise includes small and large molecule discovery, development and scale up, support for IND submission, and unique technology platforms such as bioavailability enhancement of insoluble compounds. The company has research sites, as well as GMP manufacturing facilities in both China and the US. The one-stop-shop operation helps biopharma partners across the globe to significantly accelerate discovery and de-risk development to create higher value outcomes.
BioDuro-Sundia investment is led by Advent International, with backing from Bridgewest Business Group.
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About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 350 private equity transactions in 41 countries, and as of June 30, 2020, had $58.4 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 200 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.
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About Bridgewest Business Group
Founded in 1999, The Bridgewest Business Group is a closely held investment company that seeks to create long term value through application of superior industry knowledge, operational expertise and significant financial resources to attractive investment opportunities. The Group structures its global investments across four functional areas including private equity, real estate, capital markets and financial services. The Group's private equity investments are primarily in biotech, wireless communications, infrastructure for IoT, and semiconductor. Bridgewest is based in San Diego, CA and has investments across the USA, Europe, Asia and Australasia.
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