Bridge Laboratories Receives $18 Million Financial Backing
Tuesday January 15, 2008Â - 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 Bridge Laboratories
Bridge Laboratories is a US-owned, preclinical contract research organization (CRO) that provides US-level regulatory compliant drug development services globally. Bridge is headquartered in Gaithersburg, Maryland, with AAALAC accredited lab facilities in the US and Beijing, China. Bridge is known for its extensive work in toxicology; including vaccines, developmental and reproductive toxicology, and safety pharmacology. Bridge's facility in China was among the first labs to perform GLP studies for clients worldwide.