BroadOak portfolio company Vigene Biosciences was acquired by Charles River Laboratories. Vigene Biosciences is a leading CDMO providing viral vector manufacturing services for the cell and gene therapy market.
The full press release is below.
Charles River Laboratories Completes Acquisition of Vigene Biosciences
WILMINGTON, Mass.–(BUSINESS WIRE)–Jun. 29, 2021– Charles River Laboratories International, Inc. (NYSE: CRL) announced today that it has completed the previously announced acquisition of Vigene Biosciences, Inc. for $292.5 million in cash, subject to customary closing adjustments. In addition to the initial purchase price, the transaction includes additional payments of up to $57.5 million, contingent on future performance.
Based in Rockville, Maryland, Vigene Biosciences is a premier, gene therapy contract development and manufacturing organization (CDMO), providing viral vector-based gene delivery solutions. Vigene’s primary area of expertise is CGMP viral vector manufacturing, which is used for gene therapies and gene-modified cell therapies. It also offers high-quality, research grade and CGMP plasmid DNA. The acquisition complements Charles River’s existing cell and gene therapy contract manufacturing capabilities and establishes an end-to-end, gene-modified cell therapy solution in the United States. In addition, the acquisition enables clients to seamlessly conduct analytical testing, process development, and manufacturing for advanced modalities with the same scientific partner, facilitating their goal of driving greater efficiency and accelerating their speed to market.
James C. Foster, Chairman, President and Chief Executive Officer of Charles River Laboratories, commented, “The addition of Vigene Biosciences’ extensive gene therapy capabilities further enhances Charles River’s position as a premier scientific partner for cell and gene therapies. It also accelerates our long-term revenue and earnings growth potential by expanding our portfolio in this emerging, high-growth market sector. We intend to continue to differentiate Charles River by delivering the scientific expertise and customizable approach required to support the complex needs of cell and gene therapy developers and innovators worldwide. Our goal is to become our clients’ scientific partner of choice for advanced drug modalities from discovery and non-clinical development to CGMP manufacturing.”
“We are pleased to welcome the exceptional team at Vigene to the Charles River family, and believe that together, we offer a compelling value proposition for clients and shareholders,” Mr. Foster concluded.
Vigene has become part of Charles River’s Manufacturing Solutions segment, which was renamed from Manufacturing Support to reflect the segment’s broader scientific capabilities with the addition of the Cell and Gene Therapy CDMO business.