Tigermed to take Frontage private, sell overseas labs to Charles River

Hangzhou Tigermed, a provider of R&D services to biopharma and medical device companies, plans to participate in taking its controlled subsidiary Frontage Holdings private. In a subsequent restructuring, Frontage's overseas preclinical, testing and CMC lab business would go to Charles River Laboratories (NYSE: CRL) and Frontage chairman Dr. Song Li, while Tigermed keeps the China business.

Why it matters: Tigermed is narrowing its focus to its core clinical CRO business in China.