AsianScientist (May 16, 2014) – Hangzhou Tigermed Consulting Co. Ltd. has entered an agreement to acquire a majority position in the ownership of Frontage Laboratories Inc. for a cash payment of US$50 million.
A contract research organization based in Hangzhou, Tigermed specializes in clinical trial services, notably in late phase clinical development areas in China and the Asia-Pacific region. Closely related to these areas, Frontage’s specializations include bioanalysis, preclinical and early phase clinical studies, drug development services and Drug Metabolism and Pharmacokinetics (DMPK) support for biopharmaceutical organizations.
“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,” said Dr. Ye Xiaoping, who is Founder and CEO of Tigermed.
Dr. Li Song, Founder and CEO of Frontage, said that as result of the partnership, “Tigermed’s clients will now have better access to early phase development solutions to facilitate efficient development programs.”
According to Frontage, Dr. Li will continue to serve as CEO and its management team will remain in place after the transaction.
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Source: Frontage Laboratories.
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