Advarra, a leading provider of regulatory, quality, and compliance solutions and clinical trial technologies in the life sciences sector, today announced that private equity funds managed by Blackstone and Canada Pension Plan Investment Board have signed a definitive agreement to make a majority investment in Advarra.
The investment includes significant continued equity participation from Genstar Capital and Linden Capital Partners, current shareholders, and management. Blackstone is investing in Advarra through its core private equity strategy, which invests in high-quality companies for longer periods than traditional private equity.
Advarra advances life sciences research by enabling safe, ethical, and compliant clinical trials and providing core workflow technology to support the development of life-saving therapies. Its trusted Institutional Review Board (IRB), Institutional Biosafety Committee (IBC), and related services help ensure compliance and participant safety during clinical trials while its innovative software solutions enable clinical research sites to manage their research in a compliant and efficient way.
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