Laureate Pharma Reports Record Growth in 2006
12 February 2007
Princeton, NJ – 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% 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.
"We are extremely pleased with Laureate's overall performance in 2006," said Robert Broeze, President and Chief Executive Officer of 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.
