Tata Sons, Tata Industries and Rallis India along with individual shareholders of Advinus Therapeutics have signed a definitive agreement with Eurofins Scientific for the sale of Advinus to the latter for an unspecified amount.
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,” Tata Sons said in a statement.
KRS Jamwal, chairman of Advinus and executive director of Tata Industries said:“Advinus has developed significant promise under Tata parenting, and will now realise its full potential joining the Eurofins family of laboratories. We are confident that with access to Eurofins’ global network and technical competencies, Advinus will be able to rapidly expand its analytical portfolio and services to benefit all its existing and future clients.”
