Tata Industries on Thursday said that laboratory testing major Eurofins Scientific will acquire its preclinical contract research company Advinus Therapeutics.
"Tata Sons, Tata Industries and Rallis India announced today that they, along with individual shareholders of Advinus Therapeutics (Advinus), have signed a definitive agreement with Eurofins Scientific (Eurofins) for Eurofins to acquire Advinus," the company said in a statement.
"The transaction is expected to close in the next several weeks, subject to the fulfilment of customary closing conditions. Advinus` expertise complements Eurofins contract research, development and manufacturing (CDMO) capabilities."
According to the statement, Advinus is a leading preclinical contract research company.
"With over 10 years of GLP compliance and certification, Advinus serves diverse industries such as Biotech, Pharmaceuticals, Biologics, Agrochemicals, Nutraceuticals and Cosmetics," the statement said.
"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."
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