Avid Bioservices Goes Private Via $1.1 Billion Sale to PE Firms - Orange County Business Journal

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Avid Bioservices Goes Private Via $1.1 Billion Sale to PE Firms - Orange County Business Journal

Avid Bioservices Inc. in the last seven years has transformed from a struggling clinical developer of cancer drugs to a growing drug contract manufacturer. In 2020, it hired a seasoned executive, Nick Green, who spent tens of millions of dollars to improve its facilities in Orange County. He oversaw a stock that soared from a market cap around $400 million when he took over to more than $2 billion in 2022, its highest valuation ever. However, sl…