PRINCETON, New Jersey, November 7 /PRNewswire/ --
- Strong Momentum of Client Project Pipeline Drives 223% Revenue Growth and Positive EBITDA for Second Quarter in a Row
Laureate Pharma, Inc., a full-service biopharmaceutical development and protein production company, today announced its fourth consecutive record- breaking quarterly results for the period ending September 30, 2007, posting a 223% increase in revenues over the same period last year and generating positive EBITDA for the second quarter in a row. Laureate has expanded its customer base with several new biopharmaceutical manufacturing and aseptic filling agreements. The company's healthy prospects -- future revenues from signed contracts -- are expected to provide strong momentum to achieve 2007 objectives and a solid base for revenues in 2008. As part of its growth strategy, Laureate is continuing to increase its workforce to 111 employees by the end of the year and expand its cGMP manufacturing capacity at its facility located in Princeton, NJ.
"We are pleased that strong demand for our services continues to fuel the growth of our business," said Robert Broeze, Ph.D., President and Chief Executive Officer of Laureate Pharma. "We closed Q3 2007 with our fourth consecutive record quarter, an impressive list of clients, a portfolio of active projects and a robust pipeline of new business on the horizon. We are committed to achieving our goal of being EBITDA positive for the year and exceeding our 2007 business objectives."
"Having superior contract manufacturing service offerings, infrastructure and expertise, Laureate continues to capture a significant share of the market for biopharmaceutical manufacturing," said James A. Datin, Executive Vice President and Managing Director of the Life Sciences Group at Safeguard Scientifics. "Laureate continues to augment its organization and generate a solid pipeline of manufacturing and filling agreements. We are excited by the opportunities ahead for Laureate and look forward to its continued growth."
About Laureate Pharma
Laureate Pharma, Inc. is a full-service biopharmaceutical development and protein production company located in Princeton, New Jersey. Laureate Pharma offers superior bioprocessing services that accelerate new products from development through production. We provide a wide range of specialized services from process design and development to full-scale cGMP manufacturing, purification, aseptic filling, testing, validation, analytical services, and regulatory support. Our business is focused on two active segments of the biopharmaceutical industry: monoclonal antibodies and recombinant protein products. Laureate Pharma is a wholly owned subsidiary of Safeguard Scientifics, Inc. For more information, contact Michael Cavanaugh, Vice President Sales, Marketing, and Business Development at +1-609-919-3400, or firstname.lastname@example.org or visit our web site at http://www.laureatepharma.com.
Safeguard Scientifics, Inc. (NYSE: SFE), a holding company, builds value in growth-stage technology and life sciences businesses. Safeguard provides growth capital as well as a range of strategic, operational and management resources to its partner companies. Safeguard participates in growth buyout financings, including corporate spinouts and management buyouts, expansion financings, industry consolidations and early-stage financings. For more information, visit http://www.safeguard.com.
Michael Cavanaugh, Vice President Sales, Marketing, and Business Development of Laureate Pharma, Inc., +1-609-919-3400, email@example.com ; Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020723/LPHARMLOGO, AP Archive: http://photoarchive.ap.org, PRN Photo Desk, firstname.lastname@example.org