Charles River Acquires Explora BioLabs
Charles River Laboratories, a US specialist provider of laboratory, gene and cell therapy services, has acquired Explora BioLabs for approximately $295 million in cash.
The San Diego, California-headquartered company, which is now part of Charles River’s Research Models and Services segment, provides contract vivarium research services to biopharmaceutical companies and employs more than 100 staff. It generated revenue of approximately $38 million in 2021 and Charles River is anticipating strong, double-digit revenue growth over the next five years.
Explora BioLabs operates more than 15 preclinical vivarium facilities in San Diego and San Francisco, and Boston, Massachusetts, with more planned. A seventh facility opened in San Francisco in January and four other facilities are scheduled to open in 2002, including one in Seattle, Washington, which is due in May. A second facility in Seattle will open in 36 months’ time.
Charles River said the acquisition complements and expands its Charles River Accelerator and Development Lab (CRADL) operation. When combined with Explora BioLabs, this will include at least 25 vivarium facilities by the end of 2022 and provide more than 300,000 ft2 of turnkey rental capacity in key biohubs, including expansions in the US and internationally.
“With its presence in West Coast biohubs, the acquisition of Explora BioLabs complements our existing CRADL footprint and offers incremental opportunities to partner with an emerging, high-growth client base, many of which are engaged in cell and gene therapy development,” said Charles River chairman, president and CEO James Foster.
Author: Elaine Burridge, Freelance Journalist
