Frontage Laboratories, Inc. to Acquire Quintara Discovery, Inc.
EXTON, Pa. , June 28, 2021 /PRNewswire/ -- Frontage Holdings Corporation ("Frontage" or the "Group", 1521.HK), today announced that its wholly-owned subsidiary, Frontage Laboratories, Inc. ("Frontage Labs"), has entered into a definitive agreement for the acquisition of Quintara Discovery, Inc., ("Quintara").
According to Dr. Song Li, founder, chairman and CEO of Frontage: "Quintara has an exceptional discovery and development platform that it has leveraged to build a strong reputation with its clients. Following the addition of the Quintara team's significant expertise in the areas of discovery and ADME profiling, Frontage will speed up its expansion in drug discovery services. We also expect that Quintara's location in the San Francisco/Bay Area will facilitate the growth of our business on the west coast. We are very much looking forward to closing the acquisition and joining forces with the Quintara team as we continue to work at building one of the best CRO companies in the world."
Dr. Wentao Zhang, Founder and President of Quintara, said, "Frontage has clearly emerged as an extremely strong and highly-regarded CRO partner in the drug development process and we are very enthusiastic about the new opportunities that this transaction will bring to both the Quintara team and our clients. Quintara's proven discovery platform will complement the wide variety of high-caliber pre-clinical services offered by Frontage Labs, enabling us to provide more integrated pre-clinical services to our clients. This is an exciting time to join Frontage as part of its expansion in providing the highest quality comprehensive services to the pharmaceutical and biotech industry."
The closing of the transaction is subject to the fulfillment or waiver of certain customary closing conditions. The transaction is expected to close in the third quarter of 2021. Frontage Labs will finance the transaction through the Company's internal resources.
About Frontage (www.frontagelab.com)
About Quintara (https://qdibio.com/)
CONTACT: Bryan Newman, firstname.lastname@example.org
SOURCE Frontage Laboratories, Inc.
Company Codes: HongKong:1521, OTC-PINK:FTHCY