Overview

On December 20, 2006, Bridge Pharmaceuticals, Inc. acquired Gene Logic Labs (GLL), based in Gaithersburg, MD.

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).

The two companies have entered into a preferred services agreement for preclinical drug development.

Significance

The acquisition of the GLL Gaithersburg facility enables Bridge to offer a complete IND suite of toxicology and pharmacology services on a global scale, according to the company.

Combining the experience, technical staff and resources of U.S. operations with existing scientific staff in its new, purpose-built facility in Beijing, China, Bridge will provide the pharma industry with the high-quality data required for worldwide regulatory submissions with “very significant cost savings.”

This acquisition allows Bridge to offer the unique benefits of Chinese facilities, with the assurance that the work done there will be performed under the strict guidelines of U.S. level GLP regulatory requirements.

Crosstree’s Role

Crosstree Capital Partners served as exclusive financial advisor to Bridge.

Following Crosstree’s role in Bridge’s successful Series B financing, Crosstree assisted the Company with sourcing and assessing several US preclinical CRO targets.

Crosstree advised on diligence, valuation and structuring of the transaction.