Charles River continues CRO buy up, acquires Agilux Labs for $64m
Agilux provides integrated discovery small and large molecule bioanalytical services, drug metabolism and pharmacokinetic (DMPK) services, and pharmacology services.
According to Charles River, Agilux’s integrated discovery capabilities complement Charles River’s existing nonclinical portfolio.
James C. Foster, Chairman, President and CEO of Charles River explained that the acquisition supports Charles River’s strategy to offer services from the early stages of drug research through the nonclinical development process.
“Agilux reinforces the linkage between our discovery and safety assessment capabilities, and provides clients with a comprehensive testing solution that spans their discovery and regulated drug development needs,” he said in the company’s press release.
Foster also expects that Charles River will leverage Agilux’s existing client relationships in the Boston-Cambridge biohub.
Agilux is expected to generate full-year revenue of $27m in 2016 and will be reported as part of Charles River’s Discovery and Safety Assessment (DSA) segment.
The latest M&A activity
After reporting a successful FY16, Charles River predicted a “robust year” to follow, driven by customer demand and enhanced strategic partnerships.
In April, Charles River’s completed its previously announced acquisition of WIL Research for approximately $585m in cash. The acquisition is expected to add $150 to $170m to the company’s 2016 consolidated revenue, and $240 o $250m in 2017.
Months later, the company acquired another Massachusetts-based CRO, Blue Stream Laboratories, expanding the company’s biologic and biosimilar development capabilities.
As of press time, Charles River has not responded to a request for comment.
