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.
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