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Charles River announced it will acquire Vigene Biosciences, a gene therapy contract development and manufacturing organization (CDMO) for $292.5 million in cash. The transaction is expected to close in the third quarter of 2021, and the deal includes additional payments of up to $57.5 million contingent on future performance. Management anticipates funding the acquisition through its existing credit facility, which has a borrowing capacity of up to $3 billion.
Charles River Laboratories was founded in 1947 and is a leading provider of drug discovery and development services. The company's research model & services segment is the leading provider of animal models for laboratory testing, which breeds and delivers animal research models with specific genetic characteristics for preclinical studies around the world. The discovery & safety assessment segment includes services required to take a drug through the early development process, including discovery services. The manufacturing support segment includes microbial solutions, which provides in vitro (non-animal) testing products, biologics testing services, and avian vaccine services.
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