Charles River Laboratories buys Oncotest for $36 million

Preclinical and clinical lab services provider Charles River Laboratories has acquired German oncology drug discovery contract research organization Oncotest.

Charles River paid 34 million euros ($36 million) for Oncotest subject to certain post-closing adjustments. In addition to this initial purchase price, the transaction includes a potential additional payment of 2 million euros based on future performance. Charles River said the acquisition will have a negligible impact on its consolidated revenue and non-GAAP earnings per share for the fourth quarter of 2015.

Oncotest specializes in in vivo pharmacology services and uses a collection of more than 400 patient-derived xenograft tumor models. And a full range of in vitro assays with commercially available and proprietary PDX-derived cell lines.