Frontage Laboratories, Inc.
Frontage Labs Receives $10 Million for China Expansion
Frontage Laboratories received $10 million in growth capital from a group of investors led by Baird Capital Partners Asia (BCPA), the first investment made by the China-centered initiative of Baird Private Equity.
The new capital is targeted at enlarging the company‚Äôs China operations with the goal of creating a world-class US-China CRO. Headquartered in Philadelphia, PA, Frontage announced that its Shanghai facility, a GLP/GMP drug development services laboratory, was fully operational in November 2007. The new site was touted as offering top quality services at a reduced cost. Frontage‚Äôs first two laboratories are in the Philadelphia area.
In June 2007, Frontage bought a stake in Advanced Biomedical Research of Princeton, NJ. ABR offers clinical trial management services for Phase I-IV trials, and the company has its own 72-bed testing facility. The investment broadened the range of Frontage‚Äôs CRO services.
Baird Capital Partners Asia offers growth equity capital to smaller companies with operations in China. Baird Capital Partners Asia has offices in Hong Kong, Beijing, and Shanghai; it invests in three industry sectors: manufactured products, business services and healthcare.
Pavilion Capital Partners, existing individual shareholders and members of management also participated in the capital raise.... more