Charles River To Acquire CDMO Cognate BioServices for $875 MBy
Charles River Laboratories, a Wilmington, Massachusetts-headquartered contract research organization, has agreed to acquire Cognate BioServices, a CDMO specializing in cell and cell-mediated gene-therapy products, for approximately $875 million.
Cognate provides manufacturing services for cell therapies as well as for the production of plasmid DNA and other inputs. The planned acquisition will establish Charles River as a scientific partner for cell and gene therapy development, testing, and manufacturing. Headquartered in Memphis, Tennessee, Cognate has operations in North America and Europe with over 500 employees. Cognate is expected to generate annual revenue of approximately $140 million in 2021.
The transaction is expected to close by the end of the first quarter of 2021, subject to regulatory requirements and customary closing conditions. Upon closing, it will become part of Charles River’s Manufacturing Support segment.
Source: Charles River Laboratories and Cognate BioServices