PRINCETON, N.J., May 3 /PRNewswire/ -- Laureate Pharma, Inc., a full- service biopharmaceutical development and protein production company, today announced significant growth for the first quarter 2007, more than doubling its revenues compared to the same period last year, and recognizing increased demand for its contract biomanufacturing services. As part of its growth strategy, Laureate is moving ahead with the expansion of its workforce and its facility located in Princeton, NJ. The company renewed and extended its lease term to year 2016, commissioned its brand new pilot plant to accelerate non- cGMP production projects, entered into key strategic alliances with Boehringer Ingelheim, formed a Scientific Advisory Board and elected a new non-executive Chairman for its Board of Directors.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020723/LPHARMLOGO )
“We have a very good start to the fiscal year as evidenced by solid revenue results for the first quarter,” said Robert Broeze, President and Chief Executive Officer at Laureate Pharma. “We are thrilled by the rate at which our company is growing. We have a strong pipeline of projects and are continuing to win an impressive number of clients. We are focused on executing upon our strategies and operational excellence, which will further accelerate growth going forward.”
“Laureate Pharma’s impressive first quarter performance demonstrates the success of the company strategy and the strength of the infrastructure,” said James A. Datin, Executive Vice President and Managing Director of the Life Sciences Group at Safeguard Scientifics. “The solid pipeline and strong momentum has uniquely positioned Laureate for continued growth, capturing an increased market share of the cGMP industry.” 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. Laureate Pharma is a wholly owned subsidiary of Safeguard Scientifics, Inc. 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 www.laureatepharma.com.
About Safeguard
Safeguard Scientifics, Inc. , a holding company, builds value in growth-stage technology and life sciences businesses. We provide growth capital as well as a range of strategic, operational and management resources to our partner companies. Safeguard participates in growth buyout financings, including corporate spinouts and management buyouts, expansion financings, industry consolidations and early-stage financings. www.safeguard.com.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020723/LPHARMLOGOAP Archive: http://photoarchive.ap.orgPRN Photo Desk, photodesk@prnewswire.comLaureate Pharma, Inc.
CONTACT: Michael Cavanaugh, Vice President Sales, Marketing, and BusinessDevelopment of Laureate Pharma, Inc., +1-609-919-3400, orinfo@laureatepharma.com
