Charles River Sells Assets in Sweden and Japan
US-based Charles River Laboratories International on Oct. 12 completed the divestment of its gene therapy CDMO site in Sweden and its research models and services operations in Japan. The site in Matfors, Sweden, was sold to an unnamed private investor group for about $52 million cash, with potential contingent payments of up to an additional $25 million, subject to certain adjustments.
Charles River gained the site, which produces plasmid DNA for use in gene therapies, as part of its acquisition of Cognate BioServices in March. The Wilmington, Massachusetts-based firm said it will continue to provide plasmid DNA, as well as its broader suite of cell and gene therapy CDMO services, from its operations in the UK and the US.
The Japanese business, which has approximately 260 employees and generated annual revenue in 2020 of $46 million, was sold to the Jackson Laboratory (JAX) for approximately $63 million in cash.
Based in Bar Harbor, Maine, JAX is an independent nonprofit organization focused on genomic solutions to fight human diseases. Charles River and JAX have had a distribution agreement for the production and sale of JAX’s research models in Japan for more than 20 years.
As part of the transaction, the companies have entered into a technology license agreement under which JAX will produce and distribute Charles River’s research models in Japan. Charles River said it will continue to provide research models and services from its operations in Europe, North America and China.
Author: Elaine Burridge, Freelance Journalist
