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Investing up to $10M in the company
April 14, 2016
By: Tim Wright
Editor-in-Chief, Contract Pharma
Charles River Laboratories has entered into a partnership with BioMotiv, committing to invest up to $10 million in the company. BioMotiv is the therapeutic accelerator company associated with The Harrington Project for Discovery & Development. Charles River will provide discovery and preclinical development services that will enable BioMotiv to advance discoveries sourced from academic research and non-governmental organizations into novel medicines. Charles River will be the preferred drug discovery and preclinical development partner for BioMotiv’s portfolio of technologies and companies. As part of this new relationship, Professor Julie Frearson, executive director of scientific alliances, Charles River, will be joining BioMotiv’s advisory board. “We look forward to our partnership with BioMotiv, and the opportunity to contribute to its mission of accelerating academic discoveries into novel therapeutics,” said Professor Frearson. “Charles River is uniquely positioned to support all stages of drug discovery and preclinical development, and using our deep industry knowledge and operational excellence, we can accelerate and optimize BioMotiv’s objective to develop innovative therapies.” Launched in 2012, BioMotiv is the for-profit component of The Harrington Project, a $250 million initiative with an aim of identifying, funding, and rapidly advancing the development of medical discoveries from innovative physician-scientists throughout the U.S. and UK. “Charles River Laboratories’ ability to support the drug research process from discovery through safety testing is unmatched in the industry,” said Baiju Shah, chief executive officer, BioMotiv. “Access to Charles River’s extensive portfolio of services offers distinct scientific and operational advantages, which we believe will significantly accelerate the development of breakthrough medicines.”
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