Press Releases

Bridge Laboratories Receives $18 million Financial Backing

Gaithersburg, MD (January 14, 2008)

Bridge Global Pharmaceutical Services, Inc. receives significant new funding and changes its name to Bridge Laboratories.

Bridge Laboratories, which recently changed its name from Bridge Global Pharmaceutical Services, Inc., announced today that they have received $18 million in new funding. The funding has been secured from returning Series B investors and several new global investors. This new capital will enable Bridge Laboratories to execute their strategy of expanding their industry-leading toxicology lab in Beijing, China, and continue to grow their US operations. It will also provide the company with the flexibility to consider acquisitions that would enhance Bridge's facilities or capabilities.

"The involvement of new investors in Bridge affirms the validity of our strategy to revolutionize preclinical development by delivering high-quality services in China at significant savings, while providing a US-based service for clients that prefer this option," said Tom Oakley, President and CEO of Bridge Laboratories.

Oakley continued, "We are excited about the possibilities this funding opens up for us and, ultimately, for our customers. In the year ahead, we will be actively considering many different opportunities to expand our ability to serve our customers."

Bridge announces its new company name—Bridge Laboratories—accompanied by a corporate-wide re-branding initiative to present a clearer message to the market about the type of work the company does. The company made the decision to change its name to better describe the services it provides. "While our company name and branding have changed, our customers and partners can be assured that we will continue to deliver the same high-quality service and support that they’ve come to expect," said Oakley.

About Pharmaron

Founded in 2003, Pharmaron is a leading pharmaceutical and biotechnology drug R&D CRO, with operations in China and the United States. Clients include pharmaceutical, biotechnology, academic and government organizations. As a research-driven and customer-focused company, Pharmaron provides a broad, integrated portfolio of laboratory and manufacturing services from drug discovery to IND submission. These services are designed to help its global partners improve the success of research and shorten the time of development cost effectively in discovering and developing drugs. For more information about Pharmaron, please visit http://www.pharmaron.com.