Frontage Holdings Corp., the parent company of Frontage Laboratories, Inc., a contract research organization, specializing in R&D product development services, with operations in both the U.S. and China, has initiated trading on the Main Board of The Stock Exchange of Hong Kong. Proceeds from the Global Offering, after fees and estimated expenses, are estimated to be HK$1,515.41 million.
 
Frontage plans to leverage the proceeds to further expand the company’s product development services capacity and capabilities to capitalize on growth opportunities in pharmaceutical markets in the U.S. and China.

Dr. Song Li, founder, and honorary chairman of Frontage said, “We are recognized as a leader among CRO companies in the United States, in terms of quality, reliability, affordability, productivity, technology and regulatory compliance. Our successful listing today marks another important milestone in our development history.”
 
Last year, Frontage acquired Concord Biosciences, formerly known as Ricerca Biosciences, a preclinical CRO based on Exton, PA. Concord Bio supports the pharmaceutical, agricultural, chemical and animal health industries with drug safety, metabolism, bioanalytical, residue and environmental fate studies.
 
Additionally, in March 2018, the company opened a third location in NJ, adding a new 4,500 sq.-ft. space in Princeton to meet the growing demand for laboratory and clinical services solutions in the Mid-Atlantic Region.