Charles River to Acquire Cognate BioServices for $875 Million
The acquisition will allow Charles River to expand its cell and gene therapy development, testing, and manufacturing capabilities, while adding to its existing portfolio of non-clinical capabilities.
Charles River Laboratories announced on Feb. 17, 2021 that it has acquired Cognate BioServices, a cell and gene therapy contract development and manufacturing organization (CDMO), for $875 million in cash.
The acquisition will allow Charles River to expand its cell and gene therapy development, testing, and manufacturing capabilities, while adding to its existing portfolio of non-clinical capabilities in order to offer clients integrated solutions from basic research and discovery through to CGMP production, Charles River said in a company press release. The deal is expected close during the first quarter of 2021.
“Cognate BioServices presents a unique opportunity to expand into a high-growth, value-added sector of the CDMO market and enhance our ability to meet our clients’ needs in emerging areas of scientific innovation,” said James C. Foster, chairman, president, and CEO of Charles River Laboratories, in the press release. “This acquisition will be an exceptional strategic fit, adding to our comprehensive suite of early stage research and manufacturing support solutions and enabling us to achieve our goal of establishing a single scientific partner to provide biopharmaceutical clients with an integrated solution to help accelerate their cell and gene therapy programs from discovery and non-clinical development through commercialization.”
Source: Charles River
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