13:36 ET Avid Bioservices Appoints Rich McAvoy as Chief Business Officer

Seasoned business and finance leader brings disciplined growth mindset to support Avid's next phase of expansion and client execution, /PRNewswire/ -- Avid Bioservices, a leading contract development and manufacturing organization (CDMO) providing process development and CGMP manufacturing services for biopharmaceutical products, today announced the appointment of Rich McAvoy as Chief Business Officer (CBO). Continue Reading Rich McAvoy, Chief Business Officer McAvoy is a respected, business-oriented leader with deep experience spanning strategic investment management, operational finance, accounting, legal, compliance, and risk management. In his new role, he will help guide Avid's growth strategy with a focus on disciplined execution, scalable operations, and outstanding customer delivery. "As Avid enters its next chapter of growth, we are focused on scaling the organization in a way that strengthens execution and elevates the client experience," said Kenneth Bilenberg, Chief Executive Officer of Avid Bioservices. "Rich is a thoughtful, highly capable leader with a strong reputation for building disciplined organizations that support reliable delivery. His ability to connect strategy to execution - while maintaining rigor in prioritization, compliance, and risk management - makes him an exceptional fit for Avid. We are excited to welcome Rich to the team as we expand our partnerships and continue raising the bar on what it means to be the easiest CDMO to work with." McAvoy's appointment comes at a pivotal time for the biopharmaceutical industry, as many sponsors evaluate strategies to strengthen supply chain resilience in response to evolving geopolitical uncertainty, potential trade barriers, and increasing focus on U.S.-based manufacturing. "Avid has built a strong reputation for quality and delivery, and I'm excited to join the team at a time when the company has clear growth ambitions," said Rich McAvoy, Chief Business Officer of Avid Bioservices. "My focus will be on disciplined execution —ensuring we continue delivering consistently and on time, while supporting an exceptional experience for our customers. Consistent delivery and execution will set us apart from our competitors and make us a preferred partner." McAvoy's appointment further strengthens Avid's leadership team as the company continues expanding its capabilities and deepening partnerships with biopharmaceutical innovators. Avid remains committed to helping customers advance critical programs with reliable execution, responsive collaboration, and high-quality CGMP manufacturing across clinical and commercial supply. About Avid Avid Bioservices is a global contract development and manufacturing organization (CDMO) specializing in mammalian cell-culture manufacturing. Headquartered in the U.S. with a flawless FDA record, Avid is trusted by biopharmaceutical innovators worldwide for its agility, quality, and ability to navigate complex global regulatory landscapes. With experience supporting both emerging biotech and large multinational pharma companies, Avid provides end-to-end solutions from development through commercial supply. Avid By the Numbers: More than 600 batches manufactured Over 275 commercial batches delivered globally 6+ approved commercial products 10 successful pre-approval/pre-license inspections across major regulatory agencies SOURCE Avid Bioservices