Hangzhou, China, Nov 9, 2026 – Hangzhou Tigermed Consulting Co., Ltd. (Stock Codes: 300347.SZ / 3347.HK, hereinafter referred to as “Tigermed”), a leading global provider of integrated research and development solutions for biopharmaceutical and medical device industry, today announced its proposal to participate in the privatization of its controlled subsidiary Frontage Holdings Corporation (Stock Code: 1521.HK, hereinafter referred to as “Frontage”) , through its wholly-owned subsidiary Hongkong Tigermed Co., Limited. Through a subsequent asset restructuring, Tigermed also proposes to divest Frontage’s overseas laboratory services business to Charles River Laboratories International, Inc. (NYSE: CRL, hereinafter referred to as “Charles River”) and Dr. Song Li, Chairman of the Board of Frontage, and his trusts while retaining Frontage’s China business.
The overseas laboratory services business proposed to be divested include preclinical research, laboratory testing, chemistry and CMC services, etc., which is of a different nature to Tigermed’s core clinical CRO business. Furthermore, divesting overseas laboratory facilities located outside China allows Tigermed to optimize its strategic planning, capital allocation and operational improvement, which aligns with Tigermed’s long term strategy.
The proposed divestment will enable Tigermed to further focus on clinical CRO business, optimize resource allocation, enhance operational efficiency, and strengthen its clinical service capabilities and competitive edge in China markets. In addition, by consolidating the retained laboratory services business in China, Tigermed will be able to streamline business management, strengthen end-to-end capabilities across the full clinical trial value chain, and better advance its long-term strategic objectives.
Tigermed is expected to receive proceeds and record investment gains through the privatization and the subsequent asset restructuring of Frontage in which Tigermed acquired a controlling stake in 2014. The gains on disposal of the overseas laboratory services business create value for Tigermed shareholders. The opportunity to redeploy the proceeds to further develop Tigermed’s core clinical CRO business and enhance shareholder return could create further value for Tigermed shareholders.
Dr. Xiaoping Ye, Co-founder and Chairman of Tigermed, said: “Our proposed participation in the privatization of Frontage, together with Charles River and Dr. Song Li, and the subsequent divestment of its overseas laboratory services business, represents an important strategic decision in advancing Tigermed’s long-term development strategy. It also embodies our commitment to proactively transforming and optimizing our business portfolio. We believe these changes will create greater opportunities for business growth, deliver higher-quality services to our clients, generate sustainable long-term value for our shareholders, and ultimately contribute to bringing better healthcare products to patients.”
The proposed privatization and subsequent asset restructuring remain subject to the satisfaction of relevant conditions precedent and implementation requirements. For further details, please refer to the relevant announcements released by Tigermed and Frontage.
About Tigermed
Tigermed (Stock code: 300347.SZ/3347.HK) is a leading global provider of integrated research and development solutions for biopharmaceutical and medical device industry. With a broad portfolio of services and a promise of quality, from preclinical development to clinical trial to commercialization, we are collaborating with over 4,200 customers and committed to moving their development journey efficiently and cost-effectively. Tigermed currently represents a worldwide network of more than 180 locations with over 11,900 employees across Asia Pacific, Europe, North America, Latin America and Africa. We are devoted to building an integrated platform that enables the boundless possibilities for the healthcare industry, embracing challenges to fulfill our commitment to serving unmet patients’ needs, and ultimately saving lives.
About Charles River
Charles River Laboratories International, Inc. (Stock code: NYSE: CRL) provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Charles River’s dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them.
About Frontage
Frontage Holdings Corporation (Stock code: 1521.HK), including Frontage Laboratories, is a US based global CRO offering scientifically driven end-to-end integrated product development services from drug discovery through late-phase clinical trials and manufacturing. With over 25 years of experience, Frontage supports pharmaceutical and biotech companies with services including drug discovery, API synthesis, DMPK, safety and toxicology, formulation development, GMP manufacturing, analytical services, clinical trials, bioanalytical services and central lab operations.
