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Charles River plans to enhance its gene therapy capabilities through the acquisition of Vigene Biosciences.
Charles River announced on May 17, 2021 that it has acquired Vigene Biosciences, a US-based gene therapy contract development and manufacturing organization (CDMO), for up to $350 million.
Under the terms of the agreement, Charles River will provide an initial payment of $292.5 million in cash along with additional payments of up to $57.5 million based on future performance, Charles River said in a company press release. The transaction is set to close at the beginning of the third quarter of 2021.
Charles River plans to enhance its gene therapy capabilities through the acquisition. Specifically, the company will expand its CDMO capabilities for vectors and plasmid DNA; further develop its existing non-clinical development and manufacturing portfolio; increase its exposure in the high-growth market sector; and produce profitable growth and shareholder value, according to the press release.
“The addition of Vigene Biosciences’ extensive gene therapy expertise will enable us to expand our comprehensive cell and gene therapy portfolio to span each of the major CDMO platforms – cell therapy, viral vector, and plasmid DNA production. In these emerging, high-growth, value-added segments, we intend to continue to differentiate ourselves by bringing our high-science, customizable approach to support the complex needs of cell and gene therapy developers and innovators worldwide,” said James C. Foster, chairman, president, and CEO of Charles River, in the press release. “Our goal is to become our clients’ scientific partner of choice for advanced drug modalities from discovery and non-clinical development to CGMP manufacturing [current good manufacturing practice]. We look forward to welcoming Vigene’s dedicated employees to the Charles River family.”
Source: Charles River