April 29, 2019
Charles River announced today that it has completed the previously announced acquisition of Citoxlab, the parent company of SOLVO Biotechnology.
Citoxlab is a premier, non-clinical contract research organization (CRO), specializing in regulated safety assessment services, non-regulated discovery services, and medical device testing. With operations in Europe and North America, the acquisition of Citoxlab will further strengthen Charles River’s position as the leading, global, early-stage CRO by expanding its scientific portfolio and geographic footprint, which will enhance our ability to partner with clients across the drug discovery and development continuum.
Citoxlab provides a broad suite of early-stage services that would strengthen Charles River’s existing capabilities in four key areas:
James C. Foster, Chairman, President and Chief Executive Officer of Charles River Laboratories, commented, “Citoxlab’s complementary service offering and geographic footprint are an excellent strategic fit and will enable us to enhance the support we can provide for our clients’ early-stage research efforts. The addition of Citoxlab’s talented staff, extensive scientific capabilities, and client-centric approach solidifies our leading position in the outsourced safety assessment market at a time when we believe there is and will continue to be significant client demand for these outsourced services. We are pleased to welcome the exceptional team at Citoxlab to the Charles River family, and look forward to working together to help our clients discover and develop new drugs for the patients who need them.”
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