Formex, BioDuro To Merge US OperationsBy
BioDuro, LLC, a contract research organization focused on preclinical chemistry, biology, and outsourced integrated drug development services, has agreed to merge its US operations with Formex, LLC, a contract development and manufacturing organization based in San Diego, California.
Under the terms of the agreement, the combined companies will operate under the corporate structure of BioDuro, LLC, headquartered in San Diego, California. The formulation and manufacturing group at Formex will continue to operate in San Diego, as a wholly owned subsidiary of BioDuro.
BioDuro's global operations include a 100,000-square foot facility in Beijing, focused largely on biosimilars, synthetic, medicinal, and computational chemistry, and a 92,000-square foot facility in Shanghai, that houses BioDuro's drug screening, DMPK, and integrated biology, as well as GLP bioanalysis, PK/PD, biomarker, and translational research. Formex has a 44,000 square foot cGMP manufacturing facility in San Diego, with expertise in formulation, development and manufacture of drug products.
Leading the merger, is BioDuro's Chairman, Dr. Masood Tayebi, who was the original founder of BioDuro in 2005. The executive team for the merged companies will comprise of Cyrus K. Mirsaidi, current CEO at Formex, who will lead as president and CEO of the combined entities, and long-term BioDuro management, Dr. TJ Deng, who will continue as general manager, China operations.