Worcester lab acquired for $64M
Agilux Laboratories has been acquired by Charles River Laboratories International, a move that will allow the Wilmington company to begin working with clients earlier in the drug research process.
Agilux is a contract research organization that provides a host of integrated discovery services including bioanalytical and pharmacology services. These early-stage services enhance the flexibility and speed of its biopharmaceutical clients’ lead identification, optimization, and candidate selection efforts, according to a release from Charles River.
“We expect to leverage Agilux’s strong client relationships in the Boston-Cambridge biohub, one of the most significant concentrations of medical research in the world, and expand the reach of its discovery bioanalytical services offering to Charles River’s global client base,” James Foster, chairman, president and CEO of Charles River said in a statement.
The purchase price of Agilux was approximately $64 million in cash, subject to certain post-closing adjustments, according to Charles River. Agilux is expected to generate full-year revenue of $27 million in 2016.
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