WILMINGTON, Mass.--(BUSINESS WIRE)--Charles River Laboratories International, Inc. (NYSE: CRL) today announced that it has acquired Blue Stream Laboratories, Inc. Combining Blue Stream with Charles River’s existing discovery, safety assessment, and biologics capabilities creates a leading provider with the ability to support biologic and biosimilar development from characterization through clinical testing and commercialization.
Blue Stream is an analytical contract research organization (CRO) supporting the development of complex biologics and biosimilars. Located in Woburn, Massachusetts, the company is recognized for its expertise in structural and functional protein characterization programs, and the development and validation of assays for current good manufacturing practice (cGMP) lot release and stability programs. Protein characterization is the key element for development and registration of biologic and biosimilar entities.
James C. Foster, Chairman, President and Chief Executive Officer, said, “Our continued investment in expanding our biologics portfolio, through the development of new assays and capabilities, has enabled us to provide a broader testing solution for our clients. This investment is particularly important now, when the number of biologic and biosimilar drugs in development is increasing. The acquisition of Blue Stream will meaningfully enhance the ability of our Biologic Testing Solutions business to compete effectively in this high-growth market segment.”
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 Blue Stream Laboratories, Inc. (Blue Stream) and Charles River’s expectations with respect to the impact of Blue Stream on the Company and its product and service offerings; Charles River’s projected future performance; as well as Charles River’s future growth in the area of biologics and biosimilars. 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 12, 2016, 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.