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– Establishes Charles River as a Premier Source for CNS Contract Research Services –
Charles River Laboratories International, Inc. (NYSE: CRL) today announced that it has acquired Brains On-Line, a leading contract research organization (CRO) providing critical data that advances novel therapeutics for the treatment of central nervous system (CNS) diseases. With operations in San Francisco, the Netherlands, and Germany, Brains On-Line is considered the world’s premier provider of microdialysis for CNS research. Additionally, Brains On-Line offers sophisticated in vivo efficacy and pharmacokinetics testing to provide critical data required to advance potential CNS therapies through the development process.
James C. Foster, Chairman, President and Chief Executive Officer, said, “The addition of Brains On-Line strategically expands Charles River’s existing CNS capabilities and establishes Charles River as the premier single-source provider for a broad portfolio of discovery CNS services. In addition to enhancing our ability to support clients’ early-stage drug research in this critical therapeutic area, Brains On-Line expands our geographic footprint. This increases the opportunity for clients to work side-by-side with Charles River’s scientists, both in Europe and in the South San Francisco research hub.”
The purchase price was approximately €18 million in cash (approximately $21 million based on current exchange rates), subject to certain post-closing adjustments. In addition to the initial purchase price, the transaction includes potential additional payments of up to €6.7 million based on future performance (approximately $8 million based on current exchange rates).
Caution Concerning Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “will,” “may,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements include statements in this press release regarding the acquisition of Brains On-Line and Charles River’s expectations with respect to the impact of Brains On-Line on the Company and its product and service offerings; as well as Charles River’s future growth in the area of CNS drug research. Forward-looking statements are based on Charles River’s current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A further description of these risks, uncertainties, and other matters can be found in the Risk Factors detailed in Charles River's Annual Report on Form 10-K as filed on February 14, 2017, as well as other filings we make with the Securities and Exchange Commission. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by Charles River, and Charles River assumes no obligation and expressly disclaims any duty to update information contained in this news release except as required by law.
About Charles River
Charles River provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Our dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them. To learn more about our unique portfolio and breadth of services, visit www.criver.com.
Charles River Laboratories International, Inc.
Susan E. Hardy, 781-222-6190
Corporate Vice President, Investor Relations
Amy Cianciaruso, 781-222-6168
Corporate Vice President, Public Relations
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