WILMINGTON, Mass.--(BUSINESS WIRE)--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).
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.