PRINCETON, N.J., Jan. 31 /PRNewswire/ -- Laureate Pharma, Inc., a full- service bioprocessing company, is pleased to announce that it achieved record growth in 2006 with fourteen new agreements signed and a business backlog increase of more than 240% as compared to 2005. The company increased its workforce more than 25%, is on track to complete its facility expansion, and entered into key strategic alliances during the year. In addition, Laureate Pharma formed a Scientific Advisory Board comprised of well-respected industry leaders to help guide the company through its evaluation of new services and emerging technologies. Collectively, all of these factors position the company for continued growth and momentum for 2007 and beyond.
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“We are extremely pleased with Laureate’s overall performance in 2006,” said Robert Broeze, President and Chief Executive Officer at Laureate Pharma. “We have attracted an impressive list of clients and have made significant progress toward our goal of being the preferred contract manufacturing organization (CMO) for the biopharmaceutical industry. We anticipate that our strong pipeline of projects, together with our commitment to our clients, will generate continued success going forward.”
“Laureate Pharma has established itself as an emerging leader in the bioprocessing industry, with capabilities specifically focused on monoclonal antibodies and recombinant proteins expressed in mammalian cells,” said James A. Datin, Executive Vice President and Managing Director, Life Sciences Group, Safeguard Scientifics. “Laureate continues to augment its organization and generate a solid channel of opportunities. We are pleased with the company’s progress in 2006 and look forward to continued growth in 2007.” Safeguard Scientifics acquired Laureate in December 2004, providing the company with growth capital, operational and management support to achieve its strategic plan.
About Laureate Pharma
Laureate Pharma, Inc. is a full-service biopharmaceutical development and protein production company located in Princeton, New Jersey. Laureate Pharma offers superior bioprocessing services that accelerate new products from development through production. We provide a wide range of specialized services from process design and development to full-scale cGMP production, purification, aseptic filling, testing, validation, analytical services, and regulatory support. Our business is focused on two active segments of the biopharmaceutical industry: monoclonal antibodies and recombinant protein products. For more information, contact Michael Cavanaugh, Vice President Sales, Marketing, and Business Development at (609) 919-3400, or info@laureatepharma.com or visit our web site at http://www.laureatepharma.com.
About Safeguard Scientifics
Safeguard Scientifics, Inc. builds value in high-growth, revenue-stage information technology and life sciences businesses. Safeguard provides growth capital as well as a range of strategic, operational and management resources to our partner companies. Safeguard participates in expansion financings, corporate spinouts, management buyouts, recapitalizations, industry consolidations and early-stage financings. For more information about Safeguard and its strategy, visit http://www.safeguard.com.
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CONTACT: Michael Cavanaugh, Vice President Sales, Marketing, and BusinessDevelopment, Laureate Pharma, Inc., +1-609-919-3400, orinfo@laureatepharma.com
