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The acquisition strengthens Charles River Laboratories’ capabilities in the oncology and immunology therapeutic areas.
On Jan. 11, 2018, Charles River Laboratories International, a contract research organization (CRO), announced its acquisition of KWS BioTest, a CRO specializing in in vitro and in vivo discovery testing services for immuno-oncology and inflammatory and infectious diseases, for approximately £15 million (USD$21 million) in cash.
The acquisition provides additional and complementary tools, strengthening Charles River’s capabilities in the oncology and immunology therapeutics areas. In addition to the initial purchase price, the transaction includes a potential additional payment of up to £3 million (USD$4 million) based on future performance.
“The addition of KWS strategically expands Charles River’s existing discovery capabilities in the field of immunology, which is critical given the importance of new therapies which harness the human immune system. In addition to enhancing our position as the [single-source] provider for a broad portfolio of discovery services, KWS increases our ability to support clients’ early-stage drug research in critical therapeutic areas, and expands our geographic footprint in the United Kingdom,” said James C. Foster, chairman, president and CEO of Charles River, in a company press release.