Avid Bioservices, Inc.
NASDAQ Capital MarketCapital Structure
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in mil. unless spec.Company Description
- CEO
- Nicholas Stewart Green MBA
- Full Time Employees
- 371
- Sector
- Healthcare
- Industry
- Biotechnology
- Address
- 2642 Michelle Drive Tustin CA United States of America 92780
- IPO Date
- Apr 4, 1994
- CIK
- 0000704562
- Website
- avidbio.com
- Similar Companies
- Business
- Avid Bioservices, Inc. operates as a dedicated contract development and manufacturing organization (CDMO) specializing in the biotechnology and biopharmaceutical industries. The company provides comprehensive biopharmaceutical drug substance services including process development; current good manufacturing practice (CGMP) clinical and commercial manufacturing of biologics; mammalian cell culture production; bulk packaging; purification; release and stability testing; regulatory submission support; upstream and downstream process development and optimization; analytical methods development; cell line development; product characterization; and quality and regulatory compliance services. Avid Bioservices also offers specialized manufacturing capabilities in cell and gene therapy (CGT) with a state-of-the-art CGMP facility designed to produce suspension culture batches up to 3,000 liters and adherent cultures utilizing fixed bed bioreactors, supported by advanced filling and capping technology under isolators, and extensive quality control laboratory space. Founded in 1981 and headquartered in Tustin, California, Avid Bioservices has progressively expanded its capacity and service offerings, commissioning a mammalian protein CGMP drug substance Line 3 facility in 2023 and completing construction of new CGMP manufacturing suites dedicated to cell and gene therapy by early 2024, positioning the company to generate up to approximately $400 million in annual revenue. The company has a track record of producing over 250 commercial batches and 5 commercial products marketed in more than 90 countries, maintaining a flawless quality record for over a decade. Recently, in late 2024, Avid Bioservices was acquired in an all-cash transaction valued at approximately $1.1 billion by GHO Capital Partners and Ampersand Capital Partners, marking a major strategic shift to accelerate growth. This acquisition provides Avid with access to expanded capital, expertise, and networks aimed at enhancing service capabilities, scaling operations, and expanding geographic reach. The new ownership supports Avid’s focus on lifecycle manufacturing solutions spanning from concept through commercial supply, emphasizing investments in bioprocess optimization, analytical testing, regulatory compliance, and state-of-the-art manufacturing technologies. Avid Bioservices primarily serves biotechnology and pharmaceutical companies globally, operating within the healthcare and biotechnology sectors with a strong commitment to supporting complex biologics and advancing cell and gene therapy manufacturing capabilities. The company's evolution from a subsidiary of Peregrine Pharmaceuticals to an independent leading CDMO reflects its long-standing industry presence and forward-looking growth strategy under new ownership. This comprehensive suite of biologics manufacturing and development services combined with recent facility expansions and the strategic acquisition positions Avid Bioservices as a key player in the global CDMO market focused on innovative biologics and next-generation therapies.
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