Frontage Laboratories, Inc. of Exton is expected to operate independently after its recent takeover by Chinese drug and medical device testing firm Hangzhou Tigermed Consulting Co. Ltd. for $50.25 million.

That cash sum will provide the firm’s Hong Kong Tigermed Ltd. unit with majority ownership of Frontage, though Philly.com reports that Frontage CEO Song Li and his management team will remain in place.

Frontage had already established a division in Shanghai, China, and Li said in the article that “‘Tigermed is the ideal fit for Frontage.’ … He called Frontage’s early-stage clinical-trials specialization ‘complementary’ to Tigermed’s late-stage China and Asia-Pacific focus; together they can conduct more far-reaching trials for drug-company clients.”

Read more about the acquisition on Philly.com here.

Recent coverage of Frontage Laboratories expansion plans on Chesco Business Today here.

Top image courtesy of Bespoke Arsenal.