→ The early-stage specialists at Charles River Laboratories are adding a team of non-clinical CRO experts to their team with a $510 million (€448 million) acquisition of Citoxlab. Coming a year after Charles River’s last big cash buyout — where it dished out $800 million for MPI Research — the deal is designed to beef up the Wilmington, MA-based company’s toxicology, discovery, genomics and medical device testing services while expanding its footprint in Europe. Shareholders should expect non-GAAP earnings per share accretion of around $0.15 in 2019 after the transaction wraps in the second quarter of this year, Charles River said.
→ Touting the promise of modernizing traditional Chinese medicines, Guangzhou-based Magpie Pharmaceuticals has raised $14.8 million from Sangel Capital to propel development of its modified natural products including drugs for Parkinson’s and diabetes, China Money Network reports. The Series B follows earlier financing from Beijing Prudential Capital and Wonderland Capital.
The best place to read Endpoints News? In your inbox.
Comprehensive daily news report for those who discover, develop, and market drugs. Join 41,700+ biopharma pros who read Endpoints News by email every day.Free Subscription