WILMINGTON, Mass.--(BUSINESS WIRE)--Charles River Laboratories International, Inc. (NYSE: CRL) today announced that it has acquired KWS BioTest, a leading contract research organization (CRO) specializing in in vitro and in vivo discovery testing services for immuno-oncology and inflammatory and infectious diseases. The addition of KWS enhances Charles River’s discovery expertise, with complementary offerings that provide our clients with additional tools in the active therapeutic research areas of oncology and immunology.
James C. Foster, Chairman, President and Chief Executive Officer of Charles River, said, “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 premier 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.”
The purchase price was approximately £15 million in cash (approximately $20 million based on current exchange rates), subject to certain post-closing adjustments. In addition to the initial purchase price, the transaction includes a potential additional payment of up to £3 million based on future performance (approximately $4 million based on current exchange rates). The transaction is not expected to be material to 2018 GAAP or non-GAAP results from operations.
About Charles River
Charles River provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Our dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them. To learn more about our unique portfolio and breadth of services, visit www.criver.com.