Avid Bioservices Earns Committed Badge from EcoVadis for Sustainability Performance

TUSTIN, Calif., May 23, 2024 (GLOBE NEWSWIRE) — Avid Bioservices, Inc. (NASDAQ: CDMO), 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, today announced that the company has achieved a Committed Badge from EcoVadis, one of the world’s most trusted providers of business sustainability ratings. Avid earned a score of 56 from EcoVadis, placing the company in the 62^nd percentile globally.

“We are pleased to be recognized for our commitment to sustainability. This impressive rating by EcoVadis validates the effort and performance of our team in integrating a focus on sustainability into our day-to-day business activities,” said Nick Green, president and CEO of Avid Bioservices. “While we are happy to be acknowledged for our work in this area, we recognize that sustainability is an ongoing effort, and we will continue to seek opportunities to improve our performance moving forward.”

EcoVadis is the global standard for business sustainability ratings. The EcoVadis assessment evaluates 21 sustainability criteria across four core themes: Environment, Labor & Human Rights, Ethics and Sustainable Procurement. More than 125,000 companies globally have been rated by EcoVadis.

EcoVadis’ business sustainability ratings are based on international sustainability standards such as the Ten Principles of the UN Global Compact, the International Labour Organization (ILO) conventions, the Global Reporting Initiative (GRI) standards and the ISO 26000 standard. The ratings provide an evidenced-based analysis on performance and an actionable roadmap for continuous improvement. Learn more at www.EcoVadis.com/suppliers

About Avid Bioservices, Inc. 

Avid Bioservices (NASDAQ: CDMO) is a dedicated contract development and manufacturing organization (CDMO) focused on development and CGMP manufacturing of biologics. The company provides a comprehensive range of process development, CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. With more than 30 years of experience producing biologics, Avid’s services include CGMP clinical and commercial drug substance manufacturing, bulk packaging, release and stability testing and regulatory submissions support. For early-stage programs the company provides a variety of process development activities, including cell line development, upstream and downstream development and optimization, analytical methods development, testing and characterization. The scope of our services ranges from standalone process development projects to full development and manufacturing programs through commercialization. www.avidbio.com

CONTACT: Contacts:
Stephanie Diaz (Investors)                       
Vida Strategic Partners                               
415-675-7401                                                                       
sdiaz@vidasp.com                        

Tim Brons (Media) 
Vida Strategic Partners 
415-675-7402 
tbrons@vidasp.com