SAN DIEGO and SHANGHAI, June 29, 2021 – BioDuro-Sundia, a leading drug discovery and development services organization backed by Advent International, announced today the appointment of two senior leadership positions: Nee Chuan Teo as Chief Financial Officer and Alice Lv, PhD as Senior Vice President of Operations. Both directly report to the global CEO.
“The appointment of Teo and Alice adds leadership and experience that will support the next phase of our growth,” said Haijun Dong, PhD, Global CEO of BioDuro-Sundia. “We are now one of the largest CRDMOs in the world with major China and US operations. Our next growth stage requires intense financial procedures, policies, and controls as we access new capital markets, and equally strong operational processes as we scale into much larger new facilities.”
Teo Nee Chuan, Chief Financial Officer
Teo will provide financial leadership across BioDuro-Sundia’s global organization. Teo brings with him more than 20 years of professional finance experience, including international publicly-traded companies. Prior to BioDuro-Sundia, Teo served as chief financial officer for multiple companies in Greater China, including Huazhu Group, Rnomac International Limited, and DDB Greater China Group; he also served as independent director of NASDAQ-listed 111, Inc. (ticker symbol: YI). Teo has held international roles with Ernst & Young in Kuala Lumpur and Toronto, including senior management positions within their Transaction Advisory Services group.
“I am very excited to join BioDuro-Sundia at such an exciting time for the company,” said Teo. “The business has grown rapidly in recent years. I look forward to working with the leadership team and our partners at Advent International to continue that expansion, providing the financial oversight that is needed to support our growth.”
BioDuro-Sundia’s outgoing CFO, Jeff Blazevich, joined the company in 2019, and provided critical financial leadership supporting the 2020 merger of BioDuro and Sundia, as well as the initial buildout of the company’s 300,000ft2 R&D facility in Wuxi City. Blazevich will continue to serve as advisor to BioDuro-Sundia’s leadership team, exploring additional growth opportunities.
“On behalf of our shareholders and the Board, we welcome Teo and Alice, who we believe are the best additions to the existing leadership team led by Dr. Dong. We also wish a tremendous thank you to Jeff,” said David Preston, Chairman of the Board of BioDuro-Sundia.
Dr. Alice Lv, Senior Vice President, Operations
Alice will be responsible for overseeing all operations and functions that support the research of more than 2,000 employees around the world. Alice brings more than 24 years of professional experience in both pharmaceutical R&D and CRO sectors. Prior to joining BioDuro-Sundia, Alice was Business Advisor of Lilly Research Laboratories in Indianapolis, COO of the Lilly China R&D Center in Shanghai, and held senior positions in project management and operations for international organizations and China-based CROs; in those positions, she built a solid track record in operations, information security, IT, compliance and project management.
“I am excited to join BioDuro-Sundia at this critical time in the company’s growth,” said Lv. “Following the merger of BioDuro and Sundia, and the buildout of two new facilities in Wuxi and Bengbu, the company is now at a point of scale, where operational efficiencies become critically important—more than ever—to the success of the company and the success of our clients.”
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 and10 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.
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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 350 private equity transactions in 41 countries, and as of June 30, 2020, had $58.4 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 200 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. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.
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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.
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