PPD Forms JV, Expanding BioDuro to Include Biologic Drug Discovery

PPD, Inc. announced a joint venture that will extend the services of its China drug discovery division, BioDuro, to include discovery of biotherapeutics. BioDuro will partner with Taijitu Biologics Limited (TBL), forming BioDuro Biologics. BioDuro plans to invest $25 million in the JV, while TBL will contribute a monoclonal antibody technology platform being developed by its partner, MAB Discovery GmbH in Munich, Germany. PPD will own a majority stake in the JV.  More details.... Stock Symbol: (NSDQ: PPDI)