* Bridge Now Has GLP Compliant Facilities in China and the US
* Preclinical Testing to Rigorous Regulatory Standards Is Essential to
Determine Drug Safety
SAN FRANCISCO, Dec. 19 /Xinhua-PRNewswire/ -- Bridge Pharmaceuticals,
Inc. a global leader in preclinical drug evaluation studies, today announced
its acquisition of Gaithersburg, MD-based Gene Logic Labs (GLL). Bridge will
retain the services of all GLL employees, and the acquired unit’s name will
become Bridge Global Development Services, Inc. (a subsidiary of Bridge
Pharmaceuticals, Inc) on December 18, 2006. Simultaneously Bridge and Gene
Logic Inc. entered into a preferred services agreement for preclinical drug
development.
"Disease and patient hopes are global -- likewise, so is the development
of innovative drugs. The need for groundbreaking medicine is high; but costs
are escalating beyond the point of economic justification, especially for
orphan diseases and those diseases afflicting the third world," said Glenn
Rice, Ph.D., CEO and President of Bridge.
Acquisition of the Gene Logic Labs Gaithersburg facility enables Bridge
to offer a complete IND suite of toxicology and pharmacology services on a
global scale. Combining the experience, technical staff and resources of US
operations with existing scientific staff in the new, purpose built facility
in Beijing, China, Bridge will provide the pharma industry with the high
quality data required for world wide regulatory submissions with very
significant cost savings.
"Many clients see the economies associated with performing pre-clinical
work in Asia and want the assurances that work done there would be performed
under the strict guidelines of US level GLP regulatory requirements," said
Rice. "The GLL acquisition allows us to offer the unique benefits of our
China facilities with the assurance of the regulatory compliance that clients
require."
About Bridge Pharmaceuticals
Bridge Pharmaceuticals is the first and only non clinical contract
organization company to develop drugs to US level standards in Asia. Bridge
is US-headquartered (S. San Francisco, CA) with laboratories in Beijing, and
is focused on providing cost effective, FDA compliant drug development
services in Asia for US, EU and Asian- based clients. Bridge is a spin off
of SRI International (Menlo Park, CA). Bridge’s current capabilities
encompass nearly all aspects of non clinical pharmaceutical and biotech drug
development, including pharmacokinetics and ADME, safety pharmacology and GLP
compliant toxicology. Bridge also provides regulatory and technical services
for full IND compilation and submission, and is the first contract
development company to receive US FDA approval for US Investigational New
Drug Applications (IND’s), based entirely on Asian preclinical data
packages. In the past two years, Bridge has raised over $39M in venture
capital from US, Taiwan and Singapore investment banking and venture capital
firms.
