WILMINGTON, Mass.--(BUSINESS WIRE)--Apr. 13, 2016--
Charles River Laboratories International, Inc. (NYSE: CRL) today
announced that it has entered into a strategic partnership with
BioMotiv, LLC, the therapeutic accelerator company associated with The
Harrington Project for Discovery & Development. Through this
partnership, Charles River will provide discovery and preclinical
development services that will enable BioMotiv to advance discoveries
sourced from academic research and non-governmental organizations into
Charles River has committed to invest up to $10 million in BioMotiv.
Through the agreement, Charles River will be the preferred drug
discovery and preclinical development partner for BioMotiv’s portfolio
of technologies and companies. As part of this new relationship,
Professor Julie Frearson, Executive Director of Scientific Alliances for
Charles River, will be joining BioMotiv’s Advisory Board.
“We look forward to our partnership with BioMotiv, and the opportunity
to contribute to its mission of accelerating academic discoveries into
novel therapeutics,” said Professor Frearson. “Charles River is uniquely
positioned to support all stages of drug discovery and preclinical
development, and using our deep industry knowledge and operational
excellence, we can accelerate and optimize BioMotiv’s objective to
develop innovative therapies.”
Launched in 2012, BioMotiv is the for-profit component of The Harrington
Project, a $250 million initiative with an aim of identifying, funding,
and rapidly advancing the development of medical discoveries from
innovative physician-scientists throughout the United States and United
“Charles River Laboratories’ ability to support the drug research
process from discovery through safety testing is unmatched in the
industry,” said Baiju R. Shah, Chief Executive Officer of BioMotiv.
“Access to Charles River’s extensive portfolio of services offers
distinct scientific and operational advantages, which we believe will
significantly accelerate the development of breakthrough medicines.”
Caution Concerning Forward-Looking Statements
This press 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,” “intend,” “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. These statements also include statements
regarding our projected investment in BioMotiv, LLC, and Charles River’s
expectations with respect to the strategic partnership with BioMotiv,
including any additional service revenue that may be generated.
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. Those risks and uncertainties include, but
are not limited to those described 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.
BioMotiv is the mission-driven accelerator associated with The
Harrington Project for Discovery & Development, a $250 million
initiative for advancing medicine centered at University Hospitals in
Cleveland. The focus is to accelerate breakthrough discoveries from
research institutions into therapeutics for patients through an
innovative model that efficiently aligns capital and collaborations. The
company leverages an experienced team and advisory board to select,
fund, and actively manage and advance a portfolio of drug development
programs. Learn more at www.biomotiv.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160413006439/en/
Source: Charles River Laboratories International, Inc.
Charles River Laboratories International, Inc.
E. Hardy, 781-222-6190
Corporate Vice President, Investor Relations
Amy Cianciaruso, 781-222-6168
President, Public Relations