Tigermed and Frontage Laboratories Complete Strategic Investment Agreement
Exton, P.A., (July 30, 2014) – Hangzhou Tigermed Consulting Co., Ltd. and Frontage Laboratories, Inc. today announced completion of the previously announced investment agreement, following approval by the China Securities and Regulatory Commission. Tigermed, a leading provider of outsourced clinical development services across China and Asia Pacific regions to the pharmaceutical and medical device industries has acquired a majority position in the ownership of Frontage, a recognized leader in bioanalysis, preclinical studies, early phase clinical studies and product development services for biopharmaceutical organizations.
“Our strategic partnership with Frontage firmly establishes our global clinical trial network,” said Dr. Xiaoping Ye, Founder and CEO of Tigermed. “The two companies share similar philosophies and operational approaches, which combined with additional complementary strengths in research integrity and reliability will now benefit clients on a much larger scale.”
“Joining efforts with Tigermed allows us to expand our geographic range and align our early development services with Tigermed’s late phase clinical operations for a scope that will serve clients looking for full-service, high quality, global drug development resources, “ said Song Li, Founder and CEO of Frontage.
Frontage will continue to operate independently, and will retain its existing company name, management team and operations facilities.
This press release contains forward-looking statements. These statements are based on management’s current expectations and information currently available, including current economic and industry conditions. These statements are not guarantees of future performance or actual results, and actual results, developments and business decisions may differ from those stated in this press release. The forward-looking statements are subject to future events, risks, uncertainties and other factors that could cause actual results to differ materially from those projected in the statements, including, but not limited to, the ability to enter into new contracts, maintain client relationships, manage the opening of new offices and offering of new services, the integration of new business mergers and acquisitions, as well as economic and global market conditions and other risks and uncertainties detailed from time to time in security regulatory reports filed by Tigermed, all of which are difficult to predict and some of which are beyond our control. For these reasons, you should not place undue reliance on these forward-looking statements when making investment decisions. The word “expected” and variations of such words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are only as of the date they are made and we do not undertake any obligation to update publicly any forward-looking statement, either as a result of new information, future events or otherwise.