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Tigermed to Acquire Majority Ownership in Frontage Laboratories

May 9, 2014

Hangzhou Tigermed Consulting Co., Ltd., a provider of outsourced clinical development services across China and Asia Pacific to the pharmaceutical and medical device industries, announced through its fully-owned subsidiary Hong Kong Tigermed, Ltd, that it has entered a definitive agreement, subject to certain closing conditions and regulatory approval, to acquire a majority position in the ownership of Frontage Laboratories, Inc. for a cash payment of $50.25 million.

According to a release, headquartered in Exton, PA, Frontage is a provider of bioanalysis, preclinical and early phase clinical studies, drug development (CMC) services and DMPK support for biopharmaceutical organizations. The company offers a broad range of services from discovery through late-stage clinical trials for novel, generic, and consumer product development programs. Frontage also owns Frontage Lab (Shanghai) Co, Ltd.

Frontage will continue to operate independently. Dr. Song Li will continue to serve as CEO, and its current management team will remain in place after the transaction.

Commenting on this transaction, Dr. Xiaoping Ye, Founder and CEO of Tigermed, "Tigermed is continuing to develop our capabilities in order to enhance our development solution offerings and help our customers reduce the time and cost of product development. We are achieving this goal through a strategic combination of our clinical development expertise and well-recognized technology service providers like Frontage. Frontage's capabilities in preclinical and early clinical development will help further differentiate and enhance Tigermed services as a comprehensive development service partner by helping our customers advance their product development programs more efficiently."

"Tigermed is the ideal fit for Frontage," said Dr. Song Li, Founder and CEO of Frontage Laboratories. "Frontage's specialties in early phase development and CMC services are wholly complementary to Tigermed's strengths in late phase clinical development in China and other Asia Pacific countries. The two companies' track records in trial execution, combined geographic reach, and shared vision on quality delivery will position our combination as a global one-stop source for clinical development activities. This partnership enables Frontage to offer its existing clients a more comprehensive solution for clinical trial support, from Phases I through IV. In turn, Tigermed's clients will now have better access to early phase development solutions to facilitate efficient development programs."

Frontage helps biopharmaceutical organizations advance their research and development efforts with full service offerings- including bioanalysis, preclinical and clinical studies, analytical testing and product development support- spanning discovery stages through late-stage clinical trials. The company also provides turnkey product development, bioequivalence and analytical services to generic and consumer health pharmaceutical companies to support abbreviated NDA and 505.b.2 application submissions.

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Source: Professional Services Close - Up

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