Capstone Headwaters advised Concord Biosciences, LLC, in the sale of the company to Frontage Laboratories, Inc., Exton, Pennsylvania and Shanghai, PRC. Concord is a leading contract research organization (CRO) that provides pre-clinical drug safety and metabolism, bioanalytical and agrichemical services. It operates from its 87,000 square foot GLP-compliant facility located on 20 acres in Concord, Ohio and traces its founding to 1961.
The company’s drug safety and metabolism services include IND strategy/design, lead optimization/pharmacodynamics, exploratory pharmacokinetics, toxicology, pharmacology/genotoxicity, radiochemistry and associated support services. Concord provides a comprehensive, integrated suite of services help clients meet their regulatory requirements and internal research, development and safety goals.
Concord supports the pharmaceutical, biotechnology, agricultural, animal nutrition and consumer industries. Concord also collaborates with academia, non-profit organizations, task forces and consultants. The transaction was completed on March 30, 2018; terms were not disclosed.
Clifford Croley, CEO of Concord, said
“The Healthcare & Life Sciences team at Capstone Headwaters have, again, proven themselves to be knowledgeable in our space and skilled in the process of getting deals done. Our thanks go out to them for their commitment to getting the best possible result for Concord’s ownership while respecting our insistence on maintaining the level of quality provided to clients and preserving the career interests of Concord’s management and staff.”
Michael Ewing, Managing Director at Capstone Headwaters, commented
“We are pleased to have advised Concord’s owners in the sale of the company to Frontage, where its long history of providing exemplary science and customer service to its clients is valued and will be continued. The management and staff of Concord have built an industry-leading reputation for providing accurate, on-time and on-budget services in support of its client’s product initiatives and take the relationships built during that time with them to Frontage Laboratories. Concord and Frontage are a terrific match and we are confident that the combined clients of the two firms will be pleased with the results.”