Hangzhou Tigermed Consulting Co., Ltd. (Tigermed), a leading CRO in China dedicated to provide professional full clinical trial services to the pharmaceutical and medical device industries, announced that its fully-owned subsidiary Hong Kong Tigermed, Ltd, has entered a definitive agreement, subject to certain closing conditions and regulatory approval, to acquire a majority position in the ownership of Frontage Laboratories, Inc. (Frontage) for a cash payment of $50.25 million.  

Headquartered in Exton, Pennsylvania, Frontage is a recognised leader in bioanalysis, preclinical and early phase clinical studies, drug development (CMC) services and DMPK support for biopharmaceutical organisations. The company offers a broad range of services from discovery through late-stage clinical trials for novel, generic, and consumer product development programmes. Frontage also owns Frontage Lab (Shanghai) Co, Ltd.

Frontage will continue to operate independently. Dr. Song Li will continue to serve as chief executive officer, and its current management team will remain in place after the transaction.

Commenting on this transaction, Dr. Xiaoping Ye, founder and chief executive officer, of Tigermed, “Tigermed is continuing to develop our capabilities in order to enhance our development solution offerings and help our customers reduce the time and cost of product development. We are achieving this goal through a strategic combination of our clinical development expertise and well-recognised technology service providers like Frontage. Frontage’s capabilities in preclinical and early clinical development will help further differentiate and enhance Tigermed services as a comprehensive development service partner by helping our customers advance their product development programmes more efficiently.”

“Tigermed is the ideal fit for Frontage” said Dr. Song Li, founder and chief executive officer of Frontage Laboratories. “Frontage’s specialties in early phase development and CMC services are wholly complementary to Tigermed’s strengths in late phase clinical development in China and other Asia Pacific countries. The two companies’ track records in trial execution, combined geographic reach, and shared vision on quality delivery will position our combination as a global one-stop source for clinical development activities. This partnership enables Frontage to offer its existing clients a more comprehensive solution for clinical trial support, from phases I through IV. In turn, Tigermed’s clients will now have better access to early phase development solutions to facilitate efficient development programmes.”