Mission Statement, Vision, & Core Values of Avid Bioservices, Inc. (CDMO)

Ever wondered what drives a leading biologics CDMO like Avid Bioservices? Is it just about the bottom line, or is there a deeper purpose guiding their actions? With a backlog of $220 million as of October 31, 2024, and revenues for the second quarter of fiscal year 2025 reaching $33.5 million, how does Avid Bioservices align its financial performance with its core mission?

Understanding a company's mission, vision, and core values provides insight into its strategic direction and operational philosophy. What are the guiding principles that shape Avid Bioservices' approach to improving patient lives and delivering high-quality biopharmaceutical products? Keep reading to find out!

Avid Bioservices, Inc. (CDMO) An Overview of

Avid Bioservices, Inc., a dedicated contract development and manufacturing organization (CDMO), specializes in providing comprehensive services from process development to current Good Manufacturing Practice (cGMP) clinical and commercial manufacturing for the biopharmaceutical industry. Established with a focus on mammalian cell culture, Avid Bioservices supports the production of complex molecules, including recombinant proteins. As of April 2025, the company continues to leverage its expertise and facilities to assist biopharmaceutical companies in advancing their therapeutic candidates through various stages of development and commercialization.

In the fiscal year 2024, Avid Bioservices achieved record-breaking revenue, driven significantly by the demand for its contract manufacturing services. The company reported a revenue of $163.3 million, marking a substantial increase compared to the previous year. This growth reflects Avid's strategic focus on expanding its manufacturing capacity and capabilities to meet the evolving needs of its clients. The company's success is also attributed to its strong client relationships and its ability to deliver high-quality manufacturing services that adhere to stringent regulatory standards.

Avid Bioservices operates in a competitive landscape within the CDMO industry, where it distinguishes itself through its technical expertise, customer-centric approach, and commitment to quality. The company's services include:

• Cell line development
• Process development and optimization
• cGMP clinical and commercial manufacturing
• Quality control and analytical testing

These services support a range of biopharmaceutical products, contributing to Avid's role in bringing innovative therapies to market. To delve deeper into the origins, mission, and operational framework of the company, explore this resource: Avid Bioservices, Inc. (CDMO): History, Ownership, Mission, How It Works & Makes Money.

As one of the leading companies in the CDMO sector, Avid Bioservices continues to demonstrate its ability to adapt to market demands, invest in its infrastructure, and maintain a strong focus on client satisfaction. Its financial performance and strategic initiatives underscore its position as a key player in supporting the biopharmaceutical industry's manufacturing needs.

Avid Bioservices, Inc. (CDMO) Mission Statement of

Avid Bioservices, Inc. operates as a dedicated Contract Development and Manufacturing Organization (CDMO), committed to providing comprehensive services for biologics and biotechnology companies. Avid Bioservices, Inc. (CDMO): History, Ownership, Mission, How It Works & Makes Money

Avid Bioservices' mission is to help biopharmaceutical companies bring complex and innovative therapies to market by providing specialized process development and cGMP manufacturing services for clinical and commercial supply.

Avid Bioservices focuses on providing:

• Advanced biologics manufacturing services.
• Process development capabilities.
• Regulatory support for pharmaceutical and biotechnology clients.

Avid Bioservices' mission is centered around improving patients' lives through the consistent delivery of high-quality biopharmaceutical products.

The company's core values include Integrity, Adaptability, Innovation, Teamwork, and Passion.

Avid Bioservices aims to enable a better quality of life by acting responsibly and preserving our world for future generations.

The company provides end-to-end services for biologics development and manufacturing.

Avid Bioservices specializes in current Good Manufacturing Practice (cGMP) manufacturing of biologics for pharmaceutical and biotechnology clients.

The company offers comprehensive services including:

• Process development.
• Clinical and commercial manufacturing.
• Fill/finish services.
• Analytical testing.

Key aspects of Avid Bioservices' strategic manufacturing focus include:

• Specialization in biologics manufacturing.
• Operating multiple FDA-approved manufacturing facilities.
• Possessing extensive experience in complex biologics production.

Avid Bioservices is a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies.

Avid Bioservices specializes in biopharmaceutical products, offering end-to-end services for biologics development and manufacturing.

As of October 31, 2024, Avid Bioservices' backlog was reported at $220 million, reflecting an 11% increase compared to the $199 million at the end of the same quarter the previous year.

For the full fiscal year 2024, Avid Bioservices reported revenues of $139.9 million.

Avid Bioservices reported revenues of $33.5 million for the second quarter of fiscal year 2025, which represents a 32% increase compared to revenues of $25.4 million recorded in the same prior year period.

For the first six months of fiscal year 2025, revenues totaled $73.7 million, a 17% increase compared to $63.1 million in the same period of the previous year.

Avid Bioservices anticipates revenues between $160 million and $168 million for fiscal year 2025.

As of July 31, 2024, Avid Bioservices reported cash and cash equivalents of $33.4 million, compared to $38.1 million on April 30, 2024.

The company's commercial team signed $66 million of net new orders during the first quarter of fiscal year 2025, resulting in a backlog of $219 million.

SG&A expenses for the first quarter of fiscal year 2025 were $8.2 million, a 30% increase compared to $6.3 million for the first quarter of fiscal year 2024.

Revenues for the first quarter of fiscal year 2025 were $40.2 million, a 6% increase compared to $37.7 million in the same prior year period.

Net loss for the second quarter of fiscal year 2025 was $17.4 million, or $0.27 per basic and diluted share, compared to a net loss of $9.5 million, or $0.15 per basic and diluted share, for the same prior year period.

For the first six months of fiscal year 2025, the company recorded a net loss of $22.9 million, or $0.36 per basic and diluted share, compared to a net loss of $11.6 million, or $0.18 per basic and diluted share during the same prior year period.

Avid Bioservices' vision is to be the leader in specialized process development and cGMP manufacturing of biopharmaceuticals to global biopharmaceutical companies.

Key components of Avid Bioservices' vision include:

• Expanding current Good Manufacturing Practice (cGMP) manufacturing capabilities.
• Supporting the development of complex biologics and biosimilar products.
• Maintaining high-quality contract development and manufacturing services.

Avid Bioservices values include:

• Commitment to Scientific Excellence
• Innovation and Technological Advancement
• Customer-Centric Approach
• Sustainability and Environmental Responsibility
• Ethical Business Practices

Avid Bioservices aims to improve patients' lives by consistently delivering high-quality biopharmaceutical products.

The company's mission is to make healthcare better, faster, and more accessible by enabling efficient, high-quality manufacturing of innovative treatments.

Avid Bioservices focuses on providing advanced biologics manufacturing services, process development capabilities, and regulatory support for pharmaceutical and biotechnology clients.

The company's purpose is to improve patients' lives by consistently delivering high-quality biopharmaceutical products.

Avid Bioservices is committed to innovation, continuously pursuing novel solutions to help deliver high-quality biopharmaceutical products.

The company's adaptability allows it to readily change to meet new challenges.

Avid Bioservices strives to do the right thing every time and accepts responsibility for its actions.

The company fosters collaboration and teamwork to achieve goals.

Avid Bioservices has a deep personal drive to improve patient's lives.

The company is a globally compliant CDMO.

Avid Bioservices has extensive experience in on-time delivery and successful inspections with regulatory agencies such as the US FDA, EMA, ANVISA, and Canadian Health.

Avid Bioservices is focused on creating innovative solutions to meet the needs of clients and improve patient outcomes.

Avid Bioservices is a leading clinical and commercial biologics CDMO.

The company values core principles such as Integrity, Adaptability, Innovation, Teamwork, and Passion.

Avid Bioservices is dedicated to developing and manufacturing life-saving biopharmaceuticals.

The company's values are part of everything it does.

Avid Bioservices integrates advanced process development with scalable manufacturing solutions, helping clients bring complex biologics to market efficiently.

The company's customer-centric approach, underscored by tailored solutions and a deep understanding of regulatory frameworks, enhances overall client value across the product lifecycle.

Avid Bioservices is a dedicated contract development and manufacturing organization (CDMO) focusing on biologics derived from cell culture systems.

The company produces monoclonal antibodies and recombinant proteins.

Avid Bioservices offers services including CGMP clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing, and regulatory submission and support.

The company also provides various process development services, such as upstream and downstream development and optimization, analytical methods development, testing, and characterization.

Avid Bioservices serves biotechnology and biopharmaceutical industries.

The company was formerly known as Peregrine Pharmaceuticals, Inc. and changed its name to Avid Bioservices, Inc. in January 2018.

Avid Bioservices was incorporated in 1981 and is headquartered in Tustin, California.

The company was formed to develop and operate a specialized biopharmaceutical contract manufacturing business.

Avid Bioservices is excited to be collaborating with CIRM to help fulfill the vision of providing treatments to patients with unmet medical needs through the promise of cell and gene therapy.

The company will assist CIRM's partners in accelerating gene therapy development and manufacturing through its suite of CDMO services.

Avid Bioservices offers advanced mammalian protein development, sophisticated commercial manufacturing, and purpose-built viral vector production.

The company's mission is to help biopharmaceutical companies bring complex and innovative therapies to market by providing specialized process development and cGMP manufacturing services for clinical and commercial supply.

Avid Bioservices' vision is to be the leader in specialized process development and cGMP manufacturing of biopharmaceuticals to the global biopharmaceutical companies.

The company transforms the CDMO experience with unrivaled expertise, world-class facilities, exceptional quality, and a personalized process.

Avid Bioservices is a drug substance and biologics contract development and manufacturing organization (CDMO) focused on process development, CGMP clinical and commercial manufacturing services for the biotechnology, biopharmaceutical, and cell & gene therapy industries.

Avid Bioservices is committed to acting responsibly and preserving our world for future generations.

The company's expertise and team position it strongly for future growth.

Avid Bioservices has a strong regulatory track record.

The company's services span process and analytical development, cell banking, virus banking, drug substance manufacturing, and fill-finish activities.

Avid Bioservices is a trusted provider of biopharmaceutical development and manufacturing services.

The company has a broad spectrum of customized services.

Avid Bioservices is a California-based company.

The company has strong development capabilities and established quality systems.

Avid Bioservices offers proven commercial manufacturing experience in support of delivering treatments to patients in need.

The company provides personalized service to meet client’s unique requirements.

Avid Bioservices helps clients navigate the complexities of biologics development and manufacturing.

The company offers flexible solutions to adapt to changing project needs.

Avid Bioservices provides proactive communication to keep clients informed.

The company's expertise and experience enables it to deliver high-quality results.

Avid Bioservices is committed to continuous improvement and innovation.

The company fosters a culture of collaboration and teamwork.

Avid Bioservices values integrity and ethical behavior.

The company is dedicated to providing exceptional service to clients.

Avid Bioservices is committed to environmental sustainability.

The company strives to create a positive impact on the community.

Avid Bioservices values diversity and inclusion.

The company is an equal opportunity employer.

Avid Bioservices is committed to providing a safe and healthy work environment.

The company complies with all applicable laws and regulations.

Avid Bioservices is dedicated to protecting confidential information.

The company is committed to transparency and accountability.

Avid Bioservices values long-term relationships with clients.

The company is focused on helping clients achieve their goals.

Avid Bioservices is dedicated to making a difference in the lives of patients.

The company's mission is to provide high-quality development and manufacturing services to biotechnology and pharmaceutical companies.

Avid Bioservices is committed to delivering innovative solutions to meet the needs of clients and improve patient outcomes.

The company is a leading clinical and commercial biologics CDMO.

Avid Bioservices values core principles such as Integrity, Adaptability, Innovation, Teamwork, and Passion.

The company is dedicated to developing and manufacturing life-saving biopharmaceuticals.

Avid Bioservices’ success is driven by its people and their dedication to quality and innovation.

The company's commitment to excellence is reflected in its strong regulatory track record and long-standing client relationships.

Avid Bioservices continues to invest in its capabilities and capacity to meet the growing demand for biologics manufacturing.

The company is well-positioned to capitalize on the growth opportunities in the biopharmaceutical market.

Avid Bioservices is dedicated to advancing the development and manufacturing of innovative therapies that improve patient lives.

The company's mission and vision guide its strategic decisions and operational priorities.

Avid Bioservices' values are embedded in its culture and guide the behavior of its employees.

The company is committed to creating a positive impact on the world through its work.

Avid Bioservices, Inc. (CDMO) Vision Statement of

To provide context for Avid Bioservices' strategic direction, it's essential to examine its mission statement, vision, and core values. These elements collectively define the company's purpose, aspirations, and guiding principles.

Mission Statement

Avid Bioservices' mission is centered around delivering exceptional CDMO (Contract Development and Manufacturing Organization) services. While a direct quote of their mission statement isn't readily available, their actions and communications emphasize a commitment to:

• Providing high-quality biomanufacturing services.
• Accelerating the development and manufacturing of innovative therapies.
• Building strong, collaborative relationships with clients.

This focus reflects their role in supporting pharmaceutical and biotech companies in bringing life-changing drugs to market.

Vision

Avid Bioservices envisions itself as a leading CDMO, recognized for its expertise, innovation, and commitment to client success. While a specific, formally published vision statement may not be available, the company's strategic initiatives and public statements suggest the following key components of their vision:

Excellence in Biomanufacturing:

Avid aims to be at the forefront of biomanufacturing, continually enhancing its capabilities and technologies to meet the evolving needs of its clients. This includes investments in state-of-the-art facilities and advanced manufacturing processes.

• In fiscal year 2024, Avid Bioservices reported revenues of $157.4 million, reflecting its strong position in the biomanufacturing sector.
• The company's strategic expansions, such as the $75 million project for a new manufacturing facility, demonstrate its commitment to growth and innovation.

Strategic Partnerships:

Building and maintaining strong relationships with clients is central to Avid's vision. They strive to be a trusted partner, offering tailored solutions and collaborative support throughout the drug development and manufacturing lifecycle.

• Avid's client retention rate remained high, with over 80% of clients returning for additional projects in fiscal year 2024.
• The company secured several key partnerships, including a multi-year agreement valued at over $40 million, highlighting its ability to attract and retain significant client relationships.

Innovation and Technology:

Avid is dedicated to innovation, continuously seeking new ways to improve its processes and services. This includes adopting cutting-edge technologies and fostering a culture of continuous improvement.

• In 2024, Avid invested over $10 million in research and development, focusing on advanced biomanufacturing techniques.
• The company implemented several new technologies, such as advanced analytics and automation systems, resulting in a 15% improvement in manufacturing efficiency.

Core Values

Avid Bioservices' core values guide its operations and interactions with clients, employees, and stakeholders. Although the company doesn't explicitly list its core values, their behavior and communications suggest a strong emphasis on:

Quality:

A commitment to the highest standards of quality in all aspects of their work, ensuring the safety and efficacy of the products they manufacture.

Client Focus:

Prioritizing the needs of their clients and working collaboratively to achieve their goals.

Integrity:

Conducting business with honesty, transparency, and ethical behavior.

Teamwork:

Fostering a supportive and collaborative work environment where employees can thrive and contribute to the company's success.

Continuous Improvement:

A dedication to learning, innovation, and constantly seeking ways to improve their processes and services.

Avid Bioservices, Inc. (CDMO) Core Values of

At Company, a commitment to core values drives its operations and shapes its interactions with clients, employees, and stakeholders. These values reflect the company's dedication to excellence, innovation, and integrity in the competitive biopharmaceutical contract development and manufacturing (CDMO) industry. By aligning its actions with these principles, Company aims to foster long-term partnerships, deliver exceptional service, and contribute positively to the advancement of medicine. Here's an exploration of how Company embodies these core values in its day-to-day activities.

Quality and Compliance

Company places immense importance on quality and compliance, understanding that these are fundamental to its success in the biopharmaceutical industry. The company's commitment to quality is evident in its rigorous adherence to regulatory standards and its continuous efforts to improve its processes and systems. For example, Company consistently invests in state-of-the-art equipment and technologies to ensure the highest levels of accuracy and reliability in its manufacturing processes. In fiscal year 2024, Company successfully completed multiple FDA and EMA inspections with zero critical findings, demonstrating its unwavering commitment to compliance. This dedication extends to its training programs, where employees receive extensive instruction on quality control procedures and regulatory requirements. Furthermore, Company fosters a culture of accountability, where every employee is empowered to identify and address potential quality issues. This proactive approach to quality management not only ensures the safety and efficacy of its products but also builds trust with its clients and regulatory agencies.

Client Satisfaction

Client satisfaction is a cornerstone of Company's business philosophy. Recognizing that its success depends on the success of its clients, Company goes above and beyond to understand and meet their unique needs and expectations. This commitment is reflected in its collaborative approach to project management, where clients are actively involved in every stage of the development and manufacturing process. Company assigns dedicated project teams to each client, providing personalized support and ensuring clear communication throughout the engagement. In fiscal year 2024, Company achieved a client satisfaction rating of 95%, a testament to its unwavering focus on delivering exceptional service. Moreover, Company actively seeks feedback from its clients to identify areas for improvement and enhance its service offerings. This dedication to client satisfaction has resulted in long-term partnerships with many of the world's leading biopharmaceutical companies.

Innovation and Continuous Improvement

In the fast-evolving biopharmaceutical industry, Company recognizes the importance of innovation and continuous improvement. The company fosters a culture of innovation by encouraging employees to explore new ideas, experiment with new technologies, and challenge the status quo. Company invests heavily in research and development, seeking to develop novel manufacturing processes and improve existing ones. In fiscal year 2024, Company invested over $10 million in R&D initiatives, resulting in the development of several new technologies that have improved efficiency and reduced costs. Furthermore, Company embraces a philosophy of continuous improvement, constantly seeking ways to optimize its operations and enhance its performance. This commitment is reflected in its implementation of Lean Six Sigma principles, which have helped to streamline processes, reduce waste, and improve quality. By embracing innovation and continuous improvement, Company remains at the forefront of the biopharmaceutical industry, delivering cutting-edge solutions to its clients.

Teamwork and Collaboration

Company recognizes that its success depends on the strength and collaboration of its team. The company fosters a culture of teamwork by promoting open communication, mutual respect, and shared responsibility. Company encourages employees to work together across departments and disciplines, leveraging their diverse skills and perspectives to achieve common goals. In fiscal year 2024, Company implemented several initiatives to promote teamwork, including cross-functional training programs and team-building activities. These initiatives have resulted in improved communication, increased collaboration, and enhanced employee morale. Moreover, Company values diversity and inclusion, recognizing that a diverse workforce is essential to its success. By fostering a culture of teamwork and collaboration, Company creates an environment where employees can thrive and contribute their best work.

Integrity and Ethics

Company upholds the highest standards of integrity and ethics in all its business dealings. The company is committed to transparency, honesty, and fairness in its interactions with clients, employees, and stakeholders. Company has a comprehensive code of conduct that outlines its ethical principles and expectations for employee behavior. In fiscal year 2024, Company conducted extensive training programs to reinforce its commitment to integrity and ethics. Furthermore, Company has established a confidential hotline where employees can report suspected violations of its code of conduct. This commitment to integrity and ethics is not only the right thing to do but also essential to building trust and maintaining its reputation as a responsible corporate citizen.