9 November 2021

Allier Capital and BDA advise Avance Clinical on investment from Riverside

Investment from The Riverside Company

2021

BDA Partners is pleased to announce Avance Clinical, advised by Allier Capital in conjunction with BDA Partners, has received an investment from The Riverside Company (“Riverside”), to support further expansion of its clinical trials business. The investment amount was not disclosed.

Avance Clinical is the largest premium Australian Contract Research Organisation (CRO). It provides global regulatory standard clinical research services across all phases to the local and international biopharma industry.

The company is also accredited as a gene technology CRO under the Office of the Gene Technology Regulator (OGTR) which has allowed it to expand into clinical trials for vaccines and GMO therapies.

Yvonne Lungershausen, CEO of Avance Clinical, said: “With the support of Riverside and its powerful global footprint and deep healthcare experience, Avance Clinical will execute on its regional and international expansion plans organically and via acquisitions.”

Nick Speer, Partner of Riverside, said: “We were highly attracted to Avance’s leading management team who have secured blue chip customers from across the globe, providing them with world class services. Riverside brings decades of global life sciences experience, which we will leverage to further support Avance’s growth objectives, with a particular focus on North America and Asia.”

Andrew Huntley, Managing Partner & Head of Healthcare at BDA Partners, commented: “We are very pleased to have helped Avance Clinical on this exciting strategic investment. BDA has built a strong track record in the healthcare sector over the last two years in Asia. This is a great demonstration of our expertise and network in the CRO and clinical trials space.”

About Avance Clinical

Avance Clinical is the largest premium full-service Australian CRO delivering quality clinical trials, with globally accepted data, in Australia and New Zealand for international biotechs. The company’s clients are biotechs in their early phases of drug development that need fast, agile, and adaptive solution-oriented clinical research services. www.avancecro.com

About The Riverside Company

The Riverside Company is a global private equity firm focused on investing in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has made more than 800 investments. The firm’s international private equity and structured capital portfolios include more than 140 companies. www.riversidecompany.com

About BDA

BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes. BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese government-owned bank with US$150bn of assets.

US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc., a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorised and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd. is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. www.bdapartners.com