April 13, 2016
WILMINGTON, MA, April 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 novel medicines.
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 Kingdom.
“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 2 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.Download PDF