Veeda Clinical Research, a leading independent clinical research organisation (CRO) in India, has acquired a significant minority stake in Bioneeds, a preclinical CRO based in Bengaluru.
Veeda will seek to further increase its stake in Bioneeds in the near term. Veeda’s investment in Bioneeds comes shortly after its launch of Ingenuity BioSciences Pvt. Ltd, an innovation-centric bioanalytical laboratory for biosimilars, in joint venture with Somru BioScience, a leading Canadian biotechnology company.
Speaking on the occasion, Ajay Tandon, managing director of Veeda said, "Veeda aspires to be the research partner of choice for innovative (bio) pharmaceutical companies worldwide by supporting their critical product development programmes with a comprehensive portfolio of services spanning pre-clinical, clinical and bio analytical research. We are delighted to see our partnership with Bioneeds come to fruition and look forward to collaborating with Dr. Vinaya Babu and his team of highly qualified professionals to serve our global clientele. We believe that the combined platform will leverage the significant adjacencies and synergies in our capabilities to seamlessly deliver integrated programs under a common umbrella."
Dr Vinaya Babu, founder and managing director of Bioneeds said “Partnering with Veeda is a logical forward integration of the discovery and regulatory capability and hence the combined platform makes one stop solution for to pharma, biopharma, medical device and chemical industries from discovery to market.”