The deal includes the construction of a 50,000-sq.-ft. facility in Shanghai.
Charles River Laboratories began expansion into Asia with the signing of a joint venture agreement with Shanghai BioExplorer, a provider of preclinical services, to form Charles River Laboratories Preclinical Services—China.
As part of this agreement, Charles River will construct a 50,000-square-foot preclinical services facility in Shanghai. The facility, which is expected to open in mid-2008, will provide a range of discovery and development services, including GLP and non-GLP toxicology studies. These services will be designed to meet the FDA’s standards for quality. Charles River intends to use its own research models in the new Shanghai facility.
The joint venture will be majority owned and controlled by Charles River. The transaction is subject to customary closing conditions, including Chinese regulatory approval, and is expected to close by the end of the second quarter of 2007.