Overview

On June 14, 2006, Bridge Pharmaceuticals (“Bridge”), the leading preclinical Contract Research Organization in Asia, announced that it has recently closed a $22,000,000 million Series B round of financing.

Participation included returning Series A investors and new venture and investment banking investors from the US.

Significance

This was the first China-US CRO transaction of significance.

Bridge will use the financing proceeds to capitalize on a first-mover advantage to become a leader in China-based preclinical services. The Company has approximately 200,000 square feet of facilities in development and a commitment to building a highly skilled employee base operating at Western regulatory standards.

February 13, 2007 update – Bridge has expanded its Series B round to a total of $35 million with additional investment from new investor Granite Global Ventures.

Crosstree’s Role

Crosstree Capital Partners served as exclusive financial advisor to Bridge in the transaction.

Leveraging strong global investor interest in China, Crosstree assisted Bridge in cultivating, assessing and negotiating with numerous large potential lead investors and rounding out a syndicate to complete the financing.

This transaction demonstrates Crosstree’s unique ability to leverage emerging trends within the pharma services industry.