Charles River Laboratories has completed the previously announced acquisition of Cognate BioServices for approximately $875 million, subject to customary closing adjustments.
Cognate BioServices is a cell and gene therapy contract development and manufacturing organization (CDMO) offering manufacturing solutions for cell therapies, as well as for production of plasmid DNA and other inputs in the CDMO value chain.
The strategic benefits of the transaction include: providing broad capabilities across the major CDMO platforms for cell and gene therapies; driving greater efficiency and accelerating clients’ speed-to-market by integrating manufacturing and the required analytical testing. Headquartered in Memphis, Tennessee, Cognate has operations in North America and Europe with over 500 employees.
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“We are pleased to welcome the exceptional team at Cognate to the Charles River family, and look forward to working together to provide clients with an integrated solution to help accelerate their cell and gene therapy programs from discovery and non-clinical development through commercialization. We believe Cognate will meaningfully enhance our long-term revenue and earnings growth potential because of the synergistic fit with Charles River, the market growth potential, and the emerging role of advanced drug modalities as treatments for oncology, rare diseases, and other therapeutic areas,” James C. Foster, Chairman, President and Chief Executive Officer of Charles River Laboratories, said.