PRINCETON, N.J., April 1 Laureate Pharma, Inc., a full-service biopharmaceutical development and protein production company, todayannounced record growth in revenues for 2007. The company posted a 131.4%increase over the same period last year and generated positive EBITDA for thethird consecutive quarter. Laureate achieved other milestones in 2007,including a commissioned new Pilot Plant, an expanded facility that includes anew warehouse, a 30% increase in the company's workforce, a new strategicalliance, and the election of a new non-executive Chairman. In addition, thecompany signed major biopharmaceutical development and manufacturingagreements and several fill/finish agreements. Collectively, these factorsposition the company for continued growth and momentum for 2008 and beyond.
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"We continue to see strong growth in our client base and increasing demandfor contract manufacturing services," said Robert Broeze, President and ChiefExecutive Officer at Laureate Pharma. "Laureate Pharma has superiorbioprocessing capabilities specifically focused on monoclonal antibodies andrecombinant proteins expressed in mammalian cells. We help our clients get themost out of their biopharmaceutical development programs by enabling them tocapitalize on our expertise and experience in the areas of biopharmaceuticaldevelopment and production. This inevitably helps them to get their newproducts into the clinic faster. We are excited about our continued businessmomentum and are extremely pleased with Laureate's overall performance in2007. We are on track for another record year in 2008."
"Laureate Pharma grew their revenue 131.4% year-over-year and reportedthree consecutive quarters of EBITDA positive results," said James A. Datin,Executive Vice President and Managing Director of the Life Sciences Group atSafeguard Scientifics. "This represents a solid performance from a solidcompany. We are delighted with Laureate's milestones and achievements and lookforward to seeing their continued growth." Safeguard Scientifics acquiredLaureate in December 2004, providing the company with growth capital,operational and management support to achieve its strategic plan.
About Laureate Pharma
Laureate Pharma is a full-service biopharmaceutical development andprotein production company located in Princeton, New Jersey. Laureate Pharmaoffers superior bioprocessing services that accelerate new products fromdevelopment through production. Laureate provides a wide range of specializedservices from process design and development to full-scale cGMP production,purification, aseptic filling, testing, validation, analytical services, andregulatory support. Laureate is focused on two active segments of thebiopharmaceutical industry: monoclonal antibodies and recombinant proteinproducts. Laureate Pharma, Inc. is a wholly owned subsidiary of SafeguardScientifics, Inc. For more information, contact Michael Cavanaugh, VicePresident Sales, Marketing, and Business Development at (609) 919-3400, [email protected]
or visit www.laureatepharma.com.
About Safeguard Scientifics
Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc.(NYSE: SFE) provides growth capital for entrepreneurial and innovativetechnology and life sciences companies. Safeguard targets technology companiesin Software as a Service (SaaS), Technology-Enabled Services and Internet-based Businesses, and life sciences companies in Molecular and Point-of-CareDiagnostics, Medical Devices and Specialty Pharmaceuticals with capitalrequirements between $5 and $50 million. Safeguard participates in expansionfinancings, corporate spin-outs, management buyouts, recapitalizations,industry consolidations and early-stage financings. www.safeguard.com
SOURCE Laureate Pharma, Inc.