Hangzhou Tigermed Consulting Co., Ltd., a provider of clinical development services across China and Asia Pacific, through its subsidiary Hong Kong Tigermed, Ltd., has entered a definitive agreement to acquire a majority stake in Frontage Laboratories, Inc. for $50.3 million in cash. The acquisition is subject to certain closing conditions and regulatory approval.
Frontage, headquartered in Exton, PA, provides services from discovery through late-stage clinical trials for novel, generic, and consumer products, including bioanalysis, preclinical and early phase clinical studies, drug development (CMC) services and DMPK support. Frontage will continue to operate independently under chief executive officer, Dr. Song Li and its current management team. Frontage also owns Frontage Lab (Shanghai) Co, Ltd.
Dr. Xiaoping Ye, founder and chief executive officer 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. Li, founder and chief executive officer 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. 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.”