Frontage Expands Drug Metabolism & Pharmacokinetic (DMPK) Services by Acquiring Biotranex
Exton, Pennsylvania, 01 April, 2020 – Frontage Holdings Corporation ( “Frontage” or the “Group”, 1521.HK), a contract research organization (“CRO”) providing integrated, science-driven research, analytical and development services with presence in both North America and China, today announced Frontage Laboratories, Inc.("Frontage Labs"), a wholly-owned subsidiary of the Group, entered into an equity purchase agreement with third party individuals. According to the agreement, Frontage Labs will purchase the entire equity interest in Biotranex, LLC (“Biotranex”) owned by the individual third parties.
Frontage Holdings Announces 2019 Annual Results
Revenue grew by 20.8% to US$100.4 million
Net profit grew by 64.0% to US$18.4 million
Adjusted net profit1 grew by 28.7% to US$21.4 million
Future contracted revenue increased by 48.6% to US$109.5 million
New lab space of 42,000 sq.ft and 10,000 sq.ft for bioanalytical services were expanded in China and US respectively
The planned expansion of a new facility of 71,000 sq.ft used for expanding CMC2 and bioanalytical services in US is on track
CMC service was newly offered in China / Creation of centers of excellences in DMPK was accelerated through acquisitions
Frontage China will add about 215,000 Square Feet of Lab to Expand DMPK and Preclinical Toxicology Services
On March 12, representatives of Frontage Laboratories (Shanghai) Co., Ltd. (“Frontage Shanghai”) and Suzhou Wuzhong Economic and Technological Development Zone Management Committee signed a project cooperation agreement on the leasing of a new research facility. The new laboratory building is located in No. 4 plant of Fumin Phase III High Standard, Wusongjiang Industrial Park, Wuzhong Economic and Technological Development Zone, Suzhou, China, covering an area of more than 215,000 square feet. It will be mainly used for drug metabolism and pharmacokinetic (DMPK) studies and will include an animal facility for non-GLP and GLP PK and toxicology studies.
Frontage Laboratories, Inc. Response to the Coronavirus (COVID-19)
Frontage is closely monitoring the outbreak of COVID-19 and following guidance from the Centers for Disease Control and Prevention (CDC), the World Health Organization (WHO) and other public health and government agencies. We are committed to ensuring the health, welfare and safety of our employees and to the best of our ability continue to the delivery of our services.
Frontage Welcomes Glenn Washer, BSc, DABT as Executive Vice President, Global Safety & Toxicology Services
Frontage Laboratories is pleased to announce that Glenn Washer, BSc, DABT has joined Frontage as our Executive Vice President, Global Safety & Toxicology Services. Glenn will report directly to Dr. Song Li, CEO.Frontage Laboratories is pleased to announce that Glenn Washer, BSc, DABT has joined Frontage as our Executive Vice President, Global Safety & Toxicology Services. Glenn will report directly to Dr. Song Li, CEO.
Frontage Completes Expansion of Bioanalytical Capacity and Capabilities to Support Biologic and Small Molecule Drug Development including Cell and Gene Therapies, Biomarkers testing and High Throughput Clinical Sample Management
Frontage Holdings Corporation is pleased to announce the expansion of its bioanalytical laboratories in Exton, PA, through its wholly-owned subsidiary, Frontage Laboratories, Inc. This includes an additional 10,000 square feet of laboratory space which further enhances bioanalytical capabilities in biologics and small molecule drug development, biomarkers, cell and gene therapy, and high-throughput clinical sample management. The expansion brings the total laboratory space in Frontage’s Exton site to 80,000 square feet.
Frontage Holdings Corporation Selected into Hang Seng Hong Kong-Listed Biotech Index
Frontage is a fast-growing contract research organization (“CRO”) providing integrated, science-driven research, analytical and development services throughout the drug discovery and development process to enable pharmaceutical companies to achieve their drug development goals. The Company benefits greatly from having operations in both the United States and China - the two largest markets for CRO services in the world and is well placed to capture growth opportunities in both markets
Frontage Expanding Geographic Foothold into Canada and the West Coast of North America by Acquisition of BRI
Exton, Pennsylvania - Frontage Holdings Corporation ( “Frontage” or the “Group”, 1521.HK), a contract research organization (“CRO”) providing integrated, science-driven research, analytical and product development services with presence in both the United States and China, today announced 11736655 CANADA LTD., an indirectly wholly-owned subsidiary of the Group through Frontage Laboratories, Inc.("Frontage Labs”), entered into a share purchase agreement with J&J Corporate Services, Inc., an independent third party. According to the agreement, 11736655 CANADA LTD. will purchase all of the outstanding shares of BRI Biopharmaceutical Research, Inc. (“BRI”) owned by J&J Corporate Services, Inc.
BRI is a Contract Research Organization (“CRO”) that was established by its current president and founder, Dr. David Kwok, more than 20 years ago in Vancouver, Canada. BRI is engaged in providing science-driven drug discovery and IND/NDA-enabling studies for pharmaceutical and biotechnology companies.
As a CRO, BRI offers a variety of services to its customer base, including but not limited to bioanalytical assays for measurement of drug candidates, metabolites and biomarkers, in-vitro drug metabolism/ADME, in vivo DMPK/ADME, formulation development, DS/DP stability and analytical CMC assays, and anticancer drug pharmacology assessment.
“Expanding our geographic foothold into Canada and the west coast of North America will allow us to offer our clients proximal access to our DMPK and Bioanalytical Services. It will effectively increase the client base that we currently serves in this specific field, with the potential to increase our revenue generated through these highly specialized services”, said Dr Abdul Mutlib, EVP Frontage DMPK Services, “In addition, the acquisition would extend our current contract research services into human tumor xenograft mouse efficacy models, obesity/diabetes rodent metabolic disease models, and the growing research market in human gut microbiome metabolism and biomarker assays. These services will further complement our current scientific expertise, capabilities and service portfolio to meet the needs of its broad client base.”
“We believe that outsourcing by the pharmaceutical industry is expected to continue to increase in North America and China. upon completion of the acquisition, we will expand our capacity with additional scientists, equipment, and facilities to be used in the provision of existing and novel services to our customers,” said Dr. Song Li, Founder and Honorary Chairman of Frontage, CEO of Frontage Labs, “The combined resources will also enable Frontage to become a global leader in providing DMPK services to our existing and new clients in pharmaceutical and agrochemical industries, and further our goal to establish new centers of excellence in DMPK throughout North America and China.”
About Frontage Holdings Corporation
Frontage Holdings is a fast-growing contract research organization (“CRO”) providing integrated, science-driven research, analytical and development services throughout the drug discovery and development process to enable pharmaceutical companies to achieve their drug development goals. The Company benefits greatly from having operations in both the United States and China - the two largest markets for CRO services in the world and is well placed to capture growth opportunities in both markets.
The Company believes that a “Two Countries, One System” approach differentiates itself from competitors, as it assures customers the same quality standards in both China and the United States, while also providing the company's customers with a detailed and highly experienced understanding of the regulations and requirements for drug discovery and development in both countries. The Company positions itself as a value-add partner with a focus on solving customers' most significant and complex drug discovery and development challenges. The Company's scientific knowledge base, technical expertise and reputation for high quality services have been integral to its ability to enter into strong long-term strategic relationships and partnerships with key customers.