About Veeda Clinical Research Limited

About the Company

Veeda Clinical Research Limited is one of the largest independent full-service clinical research organizations (CRO) in India. Established in 2004, the company has grown significantly, providing a broad range of clinical research solutions to the pharmaceutical industry globally.

Business Model

Veeda operates on a comprehensive business model offering end-to-end clinical research services, including pre-clinical, early phase, and late phase clinical trials. The company's approach is designed to deliver cost-effective and timely research solutions to pharmaceutical companies, thereby aiding in the development and launch of new drugs.

Services

Veeda offers a wide array of services that cover most aspects of drug development and launch. These include:

1. Bioavailability and Bioequivalence (BA & BE) Studies: Specialized services to determine the pharmacokinetic properties of drugs.
2. Pre-Clinical and Clinical Trials: Comprehensive services for conducting pre-clinical, Phase I, Phase II, and Phase III trials.
3. Bioanalytical Services: Advanced bioanalytical research capabilities to support drug development.
4. Pharmacovigilance: Safety monitoring and regulatory compliance services.
5. Medical Writing: Preparation of essential study documents in line with regulatory requirements.

Industry Trend

The global CRO market is projected to grow significantly, driven by increasing pharmaceutical R&D expenditures and the outsourcing trend among pharmaceutical companies to reduce costs and expedite drug development. Veeda is well-positioned to capitalize on these trends with its extensive service offerings and strong regulatory compliance record.

Branches and Research Facilities: Veeda has expanded its infrastructure to include multiple facilities:

1. Ahmedabad: Four facilities with a total capacity of 532 beds and advanced bioanalytical laboratories.
2. Mehsana: One clinical facility.
3. Bangalore: Two pre-clinical facilities acquired through Bioneeds, featuring 99 exclusive experiment rooms.

Clientele

Veeda has served clients in 27 countries, including major pharmaceutical companies like Dr. Reddy’s Laboratories, Mankind Pharma, and Granules India. The company has also worked with prominent international clients such as Laboratorios Liconsa in Europe, Novugen Pharma in Malaysia, and Upsher-Smith Laboratories in the USA.

Recent Developments:

1. Acquisition of Heads: In a strategic move, Veeda acquired Heads, a privately held European CRO specializing in oncology clinical trials. Established in 2010, Heads has operations in 25 strategic locations across Europe, North America, and the Asia Pacific. This acquisition positions Veeda among the global CROs with integrated capabilities extending from discovery to clinical development and post-commercial launch.
2. Acquisition of Bioneeds: Veeda acquired 50.10% of Bioneeds, enhancing its pre-clinical capabilities.
3. Joint Venture with Somru BioScience: Established Ingenuity Biosciences to focus on biosimilars.
4. Regulatory Inspections: Successfully completed 85 global regulatory inspections by authorities like USFDA and EMA.

Filed DRHP in 2021: Veeda Clinical Research Limited filed its Draft Red Herring Prospectus (DRHP) in 2021, outlining its business operations, financials, and strategic direction as part of its plan to go public.