Charles River Laboratories (NYSE: CRL) has completed its acquisition of HemaCare Corporation (OTCMKTS: HEMA) for $380 million in cash, or $25.40 per HemaCare share.
Acquiring HemaCare has several strategic purposes for Charles River, including:
- Expands Charles River’s scientific capabilities in the emerging, high-growth cell therapy sector.
- Creates a portfolio of early-stage research and manufacturing support solutions to help cell therapy developers and manufacturers from early-stage development to commercialization.
- Creates anticipated revenue growth for Charles River, with the company estimating revenue growth of at least 30% annually over the next five years.
Why Hemacare as an Acquisition Target?
Headquartered near Los Angeles, California, HemaCare Corporation (OTCMKTS: HEMA) is a leader in the customization and supply of human-derived biological products and services for biomedical research and cell therapy.
Within the U.S. and internationally, the company is well-known for its network of FDA-registered, GMP/GTP-compliant collection centers where it collects human biological materials.
Types of cellular materials collected and supplied by Hemacare include peripheral blood, bone marrow, and cord blood, each of which it isolates into primary cells types and can supply to customers in both fresh and frozen states.
Furthermore, Hemacare is the provider of leukapheresis process development material for the following FDA-approved immunocellular therapies, making it a powerful target for acquisition:
- Kymriah® (Novartis; Switzerland)
- Yescarta® (Kite, a Gilead Company; CA, USA)
- Provenge® (Dendreon; WA, USA).
To learn about about the acquisition, view the press announcement here.
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