Frontage expands synthetic & medicinal chemistry and process research & development services by acquisition of ACME Bioscience

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Jul 07, 2020, 12:57 ET

EXTON, Penn., July 7, 2020 /PRNewswire/ -- Frontage Holdings Corporation ( "Frontage" or the "Group", 1521.HK), a contract research organization ("CRO") providing integrated, science-driven research 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, purchased ACME Bioscience Inc. ("ACME"). According to the purchase agreement, Frontage Labs acquired 100% of the outstanding equity in ACME from Dr. Jason Zhang and other stakeholders.

ACME provides discovery chemistry, medicinal chemistry, process chemistry research & development, and chemical manufacturing services for worldwide biopharmaceutical companies. ACME has extensive experience in antiviral and anti-bacterial research, along with expertise in nucleotides, nucleosides, triphosphates pro-drugs, heterocycles, and boron containing compounds, and has partnered with many customers in developing new chemical entities.

"It has been one of our strategies and the ultimate goal to expand the range of the services to our customers with more integrated solutions through organic growth and potential acquisitions," said Dr. Song Li, founder and honorary chairman of the Group, CEO of Frontage Labs. "This acquisition will extend our capabilities of organic synthesis, medicinal chemistry, and process research and development, and will enable us to capture growth in the drug discovery and early stage development and other ancillary services, which can also strengthen Frontage's position to provide more comprehensive and high-quality services to our customers in North America, Asia, and Europe."

"Acme Bioscience has provided exceptional chemistry services to biotech and pharmaceutical communities for the past twenty years," said Dr. Jason Zhang, founder and CEO of Acme Bioscience. "Through Frontage Labs' acquisition, we will be able to fulfil the essential part of the drug discovery process for small organic molecules. Thus, by combining the expertise of both companies, we will be able to expand the services we provide to our customers."

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 North America and China - the two largest markets for pharmaceutical and healthcare in the world and is well placed to capture growth opportunities in both markets.

The Company believes that "Two Countries, One System" approach differentiates itself from competitors, as it assures the customers the same quality standards in both China and the United States, while also providing 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 the key customers.

About Acme Bioscience, Inc.
Acme Bioscience, Inc is a CRO in drug discovery and was founded in 2001 in San Francisco Bay Area, and expanded to Shanghai China in 2009. Acme is a true alliance partner that makes intellectual contributions throughout discovery chemistry, medicinal chemistry, scale-up, process chemistry research & development, and chemical manufacturing to worldwide customers. Acme has two research sites, strategically located in Palo Alto California, the heart of Silicon Valley, and Shanghai, China.

Contact:
Bryan Newman
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SOURCE Frontage Laboratories, Inc.