Charles River Laboratories, a Wilmington, Massachusetts-based provider of research and drug development services, has agreed to buy the bioanalysis and drug metabolism and pharmacokinetics (DMPK) operations of Frontage Holdings in Exton, Pennsylvania, the company announced on November 9, 2026. Charles River will pay about $470 million in cash, plus up to $75 million in additional payments tied to the businesses’ future performance. The deal is expected to close in the first half of 2027.
“As biologics and increasingly complex modalities become a larger part of development pipelines, clients are seeking scientific partners that can support programs from early development through the clinic,” said Birgit Girshick, Chief Executive Officer of Charles River. “By adding Frontage’s clinical bioanalysis expertise, talented scientific team, and strong client relationships, we will be better positioned to meet those evolving needs.”
What Charles River Is Acquiring
The deal covers two Frontage laboratory sites in Exton, which together span about 150,000 square feet and employ about 340 people. The sites provide bioanalysis, biomarker, and DMPK testing for large and small molecules, mostly supporting clinical development programs for biopharmaceutical clients. The operations include a central laboratory certified under the Clinical Laboratory Improvement Amendments (CLIA).
The acquired businesses made up about 40% of Frontage’s total 2025 revenue of $256.7 million. They will become part of Charles River’s Discovery and Safety Assessment (DSA) segment.
Why Clinical Bioanalysis
Charles River’s bioanalysis work today is mostly preclinical, with only about 15% of its bioanalysis revenue coming from clinical-phase testing. Most of Frontage’s bioanalysis revenue in 2025 came from clinical development. Charles River says combining the two will let clients carry programs from preclinical work through clinical testing with one partner.
The company estimates the bioanalysis market will grow from about $6 billion in 2026 to $8 billion to $9 billion by 2031. It expects faster growth in biologics, complex modalities, and clinical-phase testing.
“We look forward to welcoming Frontage’s talented bioanalysis and DMPK team to the Charles River family,” Girshick said.
How the Deal Is Structured
Frontage is publicly traded on The Stock Exchange of Hong Kong. Charles River has formed a consortium with Frontage’s controlling shareholder, Hongkong Tigermed Co., Limited, and Frontage’s Chairman, Dr. Song Li, to take Frontage private. After the privatization, Frontage will be split up. Charles River will keep the Exton bioanalysis and DMPK businesses, and Frontage’s remaining businesses will go to Tigermed and Dr. Li.
The transaction requires approvals from Tigermed and Frontage shareholders, regulators, and the Grand Court of the Cayman Islands. Charles River plans to fund the deal through its credit facility and available cash.
About Charles River Laboratories
Charles River provides products and services that help pharmaceutical and biotechnology companies, government agencies, and academic institutions with drug discovery, early-stage development, and manufacturing.
Caution Concerning Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “intend,” “will,” “would,” “may,” “estimate,” “plan,” “outlook,” and “project,” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements include statements regarding: the proposed acquisition of Frontage’s bioanalysis and DMPK business; expectations regarding the terms and the timing of the closing of the proposed acquisition including regarding the satisfaction of required shareholder, regulatory and court approvals; expectations with respect to the impact of the proposed acquisition on the Company, its product and service offerings, client perception, operating margin and related cost savings, revenue, including third-party revenue, revenue growth rates, earnings per share, and GAAP or non-GAAP financial results; expectations regarding the separation of the acquired business from Frontage’s other operations and the integration of the acquired business; expectations regarding any earnout payments that may become payable in respect of the acquired business; the Company’s expectations concerning projected future financial and operating performance, including with respect to revenue and booking activity and related financial metrics; the Company’s commitment to, and ability to create long-term value for shareholders and to successfully execute on the strategies described herein; client demand, including trends and the future demand for the Company’s products and services; the impact of foreign exchange; and the Company’s plans or prospects, expectations and long-term goals associated with our business.
Forward-looking statements are based on Charles River’s current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. Those risks and uncertainties include, but are not limited to: the ability to successfully complete the proposed acquisition and the related privatization of Frontage; the risk that the required regulatory, shareholder or court approvals are not obtained, or are not obtained on the anticipated timetable, or that other conditions to the transaction are not satisfied, and the risk that the transaction is therefore delayed or does not complete; the risk that the separation of the acquired business from Frontage’s other operations is delayed, costs more than anticipated or is not completed as contemplated, including the risk that required third-party consents are not obtained; the ability to successfully integrate the acquired business, and risks and uncertainties associated with that business, including the potential loss of clients or key personnel; uncertainty as to whether any earnout payment will become payable and the resulting impact on the total consideration for the transaction; ; and the demand, proposal and booking trends (including net book-to-bill) in the Company’s DSA business segment. Furthermore, these and other risks relating to the Company are set forth in the documents filed by Charles River with the Securities and Exchange Commission, including without limitation, the Risk Factors in the Company’s Annual Report on Form 10-K filed February 18, 2026. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by Charles River, and Charles River assumes no obligation and expressly disclaims any duty to update information contained in this press release except as required by law.
Source: Charles River Laboratories, https://ir.criver.com/news-releases/news-release-details/charles-river-laboratories-acquire-frontages-bioanalysis-and/ on November 9, 2026. Republished with credit to the original author. Read the original article.
