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Charles River Laboratories to acquire CROs Argenta and BioFocus.
Charles River Laboratories has entered into an agreement to acquire the CRO services division of Galapagos NV, which includes both Argenta and BioFocus. These businesses offer integrated drug discovery services, with a focus on in-vitro capabilities. The acquisition will help position Charles River as a full service, early-stage CRO, with integrated in-vitro and in-vivo capabilities from target discovery through preclinical development. The purchase price is €129 million (approximately $179 million), and the transaction includes future performance payments of up to €5 million (approximately $7 million).
Located in the United Kingdom and the Netherlands, Argenta and BioFocus provide a full suite of drug discovery services from target discovery through the delivery of clinic-ready candidates to a broad range of pharmaceutical and biotechnology companies.
Source: Charles River Laboratories