—New Leader Promoted from President, Global CMC Solutions Following Record Year for CRDMO Operations—
SAN DIEGO–(BUSINESS WIRE)–BioDuro-Sundia, a leading drug discovery, development and commercial services organization backed by Advent International, announced today the appointment of Kent M. Payne, PhD, as Chief Executive Officer. He originally joined BioDuro-Sundia in 2019 as President, Global CMC Solutions.
“For the past 2+ years Kent has distinguished himself, setting a vision for growth, building strong teams and processes to execute that growth most recently as Corporate Head of Transition,” said David Preston, Chairman of the Board, BioDuro-Sundia. “Under his leadership, we have generated record growth across all business units. The Board has full confidence and is excited to have him formally lead our next phase of growth with planned expansions in nearly every aspect of our China and US operation.”
The executive team, led by Payne, will continue to be co-located in China and the US, providing balance for the global contract research, development and manufacturing organization (CRDMO) for both drug substance and drug product.
“I am honored to serve as CEO at this time of remarkable growth; we will be adding 1,000 people to our company in 2022 alone and bringing on board new capacities at every facility, including discovery, development and manufacturing,” said Kent M. Payne, Ph.D., CEO.
“With support from Advent International, we are making the needed investment into our teams, systems and processes to make sure we deliver ‘right first time’, stay fast and flexible, and maintain our customer focus culture. This is our promise to each and every client, and to the patients awaiting new life-saving medicines.”
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.
For more information, visit: www.bioduro-sundia.com
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 390 private equity investments across 42 countries, and as of September 30, 2021, had $86 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 255 private equity 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. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.
For more information, visit: www.adventinternational.com
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.
For more information, visit: www.bridgewestgroup.com