Charles River Laboratories International, Inc. [NYSE: CRL] revealed that the company has entered into a contract to purchase Cognate BioServices, Inc. for around $875 million in cash. The transaction is subject to customary closing conditions.
James C. Cultivate, CEO of CRL, stated, “Cognate BioServices presents a novel chance to venture into a high-development, value-added area of the CDMO market. Moreover, It aids us to improve our capacity to address our customers’ needs in arising regions of scientific advancement.”
He further added,” This purchase will be an outstanding key fit, adding to our thorough set-up of early-phase study. It will aid in producing support solutions and empowering us to accomplish our objective of building up a solitary scientific partner to furnish biopharmaceutical customers. So that we can provide clients with an incorporated solution to aid enhancing their cell and gene treatment programs.”
Cognate is a cell and gene therapy CDMo that offers a variety of cell therapy solutions. The transaction will create CRL as a sole partner for cell and gene treatment. Furthermore, CRL will be able to provide the customers with integrated solutions from basic research through GCMP creation. Cognate has broad experience creating different cell types and advances utilized in cell immunotherapy and immuno-oncology.