Blackstone and CPP Investments Back Advarra in Major Deal to Transform Clinical Trial Infrastructure

Institutional Review Board and Institutional Biosafety Committee provider Advarra has attracted significant backing from Blackstone and Canada Pension Plan Investment Board (CPP Investments) in a definitive investment agreement. The strategic capital infusion signals growing confidence in the critical role compliance and workflow technologies play in accelerating life sciences research and clinical trial execution.

Why the Investment Matters

The partnership underscores how both global capital managers view the life sciences ecosystem as a high-conviction investment theme. Blackstone, managing $915 billion in assets under management, is channeling capital through its core private equity strategy—a framework designed for sustained, patient capital deployment rather than traditional shorter-term fund cycles. This approach mirrors the long-term infrastructure buildout required in clinical research technology.

Advarra’s Market Position and Service Offerings

The Columbia, Maryland-based company operates at the intersection of compliance, technology, and industry connectivity. Its IRB and IBC review solutions safeguard trial participant protection and regulatory adherence, while its software platform enables clinical research sites, sponsors, contract research organizations (CROs), and academic medical centers to coordinate efficiently. By integrating these workflow solutions, Advarra reduces friction in clinical trial execution—making research operations safer, smarter, and faster across the life sciences value chain.

Continued Backing and Strategic Vision

Genstar Capital and Linden Capital Partners, both existing shareholders, have maintained their equity positions in the transaction. David Golde from Genstar noted the company’s transformation since its 2019 acquisition into a market-leading workflow solutions provider. The continued participation signals confidence in management’s ability to scale operations and capitalize on rising demand for high-quality clinical research infrastructure.

Investment Thesis and Growth Trajectory

Sam Blaichman, Managing Director at CPP Investments, highlighted that Advarra’s established reputation and positioning address acute market needs for sophisticated clinical research solutions. Gadi Saarony, Advarra’s Chief Executive, framed the capital deployment as an accelerant for innovation in service delivery, data analytics, and software capabilities—enhancements designed to deepen transparency and collaboration across the ecosystem while amplifying value for all stakeholders.

Anushka Sunder, Senior Managing Director at Blackstone, reinforced this perspective: sustained innovation in life sciences R&D remains a conviction theme, with the firm committed to supporting talent acquisition, scientific expertise differentiation, customer-focused product development, and breakthrough clinical trial technologies that unlock Advarra’s full potential.

Advisory Support and Deal Structure

Jefferies LLC and BofA Securities provided financial advisory services, while Ropes & Gray LLP handled legal representation for the seller side. Blackstone engaged Simpson Thacher & Bartlett LLP for legal counsel and Goldman Sachs & Co. LLC as financial advisor.