Drug discovery company Charles River Laboratories International Inc (NYSE: CRL) disclosed on Monday that it has acquired the remaining 80% ownership stake in SAMDI Tech Inc, a provider of screening (HTS) solutions for drug discovery research, for a purchase price of USD50m in cash for the ownership stake in SAMDI Tech that Charles River did not already own, marking the culmination of a partnership between the companies that began in 2018.

Further financial details were not disclosed, as the transaction is not expected to have a material impact on Charles River's financial results in 2023. The transaction is subject to customary post-closing adjustments.

The company added that SAMDI Tech will become part of its Discovery and Safety Assessment segment.

SAMDI Tech is based in Chicago, Illinois and offers a proprietary mass spectrometry (MS) technology for high-throughput analysis of biochemical activities and affinity selection MS (SAMDI ASMS) for identifying binding interactions. Its comprehensive drug discovery solutions also include optical and radioactivity capabilities, cell-based assays, and an in-house collection of over a half million drug-like small molecules.

Charles River Laboratories' chairman, president and chief executive officer, James C Foster, stated: "The acquisition of SAMDI Tech's cutting-edge, high-throughput screening technology further strengthens Charles River's drug discovery capabilities and enhances our unique ability to serve as an integrated partner to support our clients' early-stage research. SAMDI Tech's platform combined with our premier, end-to-end drug discovery portfolio will generate better data and faster hit identification and is another step to accelerate our clients' drug discovery efforts. With over a decade of industry experience and the successful, existing partnership, we believe the addition of SAMDI Tech will continue to generate new business opportunities and we are pleased to welcome them to the Charles River family."