Mergers and Acquisitions: Good and Bad
In the ever-changing field of scientific research and development, mergers and acquisitions of biotech companies can open the door to amazing possibilities. One recent acquisition was between Charles River Laboratories and Explora Biolabs.
Explora Biolabs, started in 2004 in San Diego, and was known for its expertise in facilities that many companies call home for their preclinical animal testing research. They have developed cutting edge facilities that have earned a respectable reputation among researchers and pharmaceutical companies who use their services.
Charles River Laboratories (CRL), a global company that specializes in early-stage research services, made waves when they announced the acquisition of Explora Biolabs in April of 2022. Before the acquisition, CRL had an established presence on the East Coast. With Explora under CRL branding, they now have an even larger footprint, spreading out to the West Coast. The acquisition of Explora signified a combination of expertise and resources towards the future of preclinical facilities.
At the time of the time of the acquisition, there were three Charles River / Explora projects that were underway. This provided some interesting hurdles, as there were some projects that were already designed under Explora. Explora, like CRL, had existing robust design standards that now had to be shaped to fit/match the equally robust design standards of CRL. Intersect Management was ready to assist in the integration between the two companies, and played an important role in this change, analyzing both companies’ design standards, operational standards, and overall functionality. Explora being an existing client of Intersect, there is an expensive stock of knowledge Intersect Management has gained with Explora over the years. Intersect Management has been able to take advantage of this existing information to create a perfect combination of standards that will best suit the future of CRL as a company and the future of their tenants. CRL and Intersect Management continue to work closely together to make sure these facilities are built with quality and functionality that you would expect to find in a Charles River / Explora space.
The transition of Explora Biolabs to Charles River Laboratories marks a major milestone in the field of preclinical research. The combination of resources, expertise, and facility designs makes the future of Charles River look promising. Both Intersect Management and Charles River Laboratories are excited to see where this new change will take the world of research and development.
-By Charles Peterson