CHARLES RIVER LABORATORIES INTERNATIONAL, INC. acquired Cognate BioServices, Inc. for approximately $875 million (purchase price $879.0 million, net of $70.5 million cash), a transaction completed in March 2021, structured as all cash.
Cognate BioServices, Inc. operates in Manufacturing Support — cell and gene therapy CDMO, is based in United States (Memphis, Tennessee) with European operations. Cognate BioServices was a cell and gene therapy CDMO offering comprehensive manufacturing solutions for cell therapies, as well as for the production of plasmid DNA and other inputs in the CDMO value chain.
The acquisition of Cognate establishes us as a scientific partner for cell and gene therapy development, testing, and manufacturing, providing clients with an integrated solution from basic research and discovery through cGMP production.
Manufacturing Support segment, Biologics / CDMO
Because of the synergistic fit with Charles River, the market growth potential, and the emerging role of advanced drug modalities as treatments for oncology and rare disease, we believe Cognate will meaningfully enhance our long-term revenue and earnings growth potential.James C. Foster, Chairman, President and Chief Executive Officer, Charles River Laboratories
Advisory firms were not disclosed for this transaction.