Hangzhou Tigermed Consulting, a provider of outsourced clinical development services across China and the Asia Pacific, has entered a definitive agreement, subject to certain closing conditions and regulatory approval, to acquire a majority position in the ownership of Frontage Laboratories for a cash payment of $50.25 million.
Headquartered in Exton, PA, Frontage provides bioanalysis, preclinical and early phase clinical studies, drug development (CMC) services, and DMPK support for biopharmaceutical organizations. The company offers a range of services from discovery through late-stage clinical trials for new, generic, and consumer product development programs. Frontage also owns Frontage Lab (Shanghai) Co, Ltd.
Frontage will continue to operate independently. Song Li will remain CEO, and its current management team will remain in place after the transaction.
Source: Frontage Laboratories