Continued Momentum Results in 131.4% Increase in Revenue and Positive
EBITDA for Three Consecutive Quarters
PRINCETON, N.J., April 1 /PRNewswire/ -- Laureate Pharma, Inc., a full-
service biopharmaceutical development and protein production company, today
announced record growth in revenues for 2007. The company posted a 131.4%
increase over the same period last year and generated positive EBITDA for
the third consecutive quarter. Laureate achieved other milestones in 2007,
including a commissioned new Pilot Plant, an expanded facility that
includes a new warehouse, a 30% increase in the company's workforce, a new
strategic alliance, and the election of a new non-executive Chairman. In
addition, the company signed major biopharmaceutical development and
manufacturing agreements and several fill/finish agreements. Collectively,
these factors position the company for continued growth and momentum for
2008 and beyond.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080131/NETH020LOGO )
"We continue to see strong growth in our client base and increasing
demand for contract manufacturing services," said Robert Broeze, President
and Chief Executive Officer at Laureate Pharma. "Laureate Pharma has
superior bioprocessing capabilities specifically focused on monoclonal
antibodies and recombinant proteins expressed in mammalian cells. We help
our clients get the most out of their biopharmaceutical development
programs by enabling them to capitalize on our expertise and experience in
the areas of biopharmaceutical development and production. This inevitably
helps them to get their new products into the clinic faster. We are excited
about our continued business momentum and are extremely pleased with
Laureate's overall performance in 2007. We are on track for another record
year in 2008."
"Laureate Pharma grew their revenue 131.4% year-over-year and reported
three consecutive quarters of EBITDA positive results," said James A.
Datin, Executive Vice President and Managing Director of the Life Sciences
Group at Safeguard Scientifics. "This represents a solid performance from a
solid company. We are delighted with Laureate's milestones and achievements
and look forward to seeing their continued growth." 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 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. Laureate provides 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. Laureate is focused on two active
segments of the biopharmaceutical industry: monoclonal antibodies and
recombinant protein products. Laureate Pharma, Inc. 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
http://www.laureatepharma.com.
About Safeguard Scientifics
Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc.
(NYSE: SFE) provides growth capital for entrepreneurial and innovative
technology and life sciences companies. Safeguard targets technology
companies in Software as a Service (SaaS), Technology-Enabled Services and
Internet- based Businesses, and life sciences companies in Molecular and
Point-of-Care Diagnostics, Medical Devices and Specialty Pharmaceuticals
with capital requirements between $5 and $50 million. Safeguard
participates in expansion financings, corporate spin-outs, management
buyouts, recapitalizations, industry consolidations and early-stage
financings. http://www.safeguard.com
SOURCE Laureate Pharma, Inc.
 back to top
Related links:
http://www.laureatepharma.com
http://www.safeguard.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20080131/NETH020LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Michael Cavanaugh, Vice President Sales,
Marketing, and Business Development, +1-609-919-3400,
info@laureatepharma.com
|
