RTTNews | Mar 31, 2021 07:49AM EDT

07:48 Wednesday, March 31, 2021 (RTTNews.com) - Early-stage contract research company Charles River Laboratories International, Inc. (CRL) acquired Retrogenix Limited, an early-stage contract research organization for about 35 million pounds in cash, Charles River said in a release.

The transaction also includes a potential additional payment of up to 5 million pounds based on future performance.

The company does not see the deal to have any material impact on the its 2021 financial results.

Retrogenix provides specialized bioanalytical services utilizing its proprietary cell microarray technology. Charles River Laboratories believes that the acquisition of Retrogenix enhances its scientific expertise with additional large molecule and cell therapy discovery capabilities.

"The acquisition of Retrogenix strategically expands Charles River's existing discovery capabilities by adding a proprietary cell microarray technology to accelerate target identification and provide preclinical safety assurance for novel therapies. In addition to enhancing our position as the premier, single-source provider for a broad portfolio of discovery services, Retrogenix enhances our ability to support clients' early-stage drug research efforts in advanced drug modalities, including cell therapies," James C. Foster, Chairman, President and Chief Executive Officer of Charles River Laboratories, commented.

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