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Charles River (CRL) Inks CDMO Deal With Gates Institutes
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Charles River Laboratories International, Inc. (CRL - Free Report) entered into a lentiviral vector contract development and manufacturing organization (CDMO) agreement with Gates Institute. Per the terms of the deal, Gates Institute will utilize Charles River’s cutting-edge cell and gene therapy CDMO to develop chimeric antigen receptor (CAR) T-cell therapies for hematological cancers.
The deal underscores the Gates Institute's mission to provide advanced solutions for cell and gene therapy.With this strategic agreement, CRL will be able to expand its CDMO network for oncology patients.
Charles River’s Plasma DNA and Viral Vector CDMO
With years of plasma DNA and viral vector CDMO expertise and platform processes, including eXpDNA and Lentivation, Charles River has a standardized protocol with a high yield. The company has expanded its cell and gene therapy portfolio with several acquisition integrations and expansions to simplify complex supply chains that meet the growing demand for plasmid DNA, viral vector, and cell therapy services.
More on the News
Following the agreement, Gates Institution will have access to Charles River’s manufacturing platforms and viral vector CDMO center of excellence, leveraging a range of services, including process development evaluation of Gates Institute’s LVV backbone, phase-appropriate research grade, high–quality (HQ) plasmid DNA production and GMP LVV manufacturing.
An upcoming Investigational New Drug (IND) application for Phase I clinical trials will be backed by the products developed within the collaboration.
For investors’ note, the Gates Institute is a cell therapy translational research institute with biomanufacturing capabilities delivering first-in-human therapies. It is based at the University of Colorado Anschutz Medical Campus.
Image Source: Zacks Investment Research
Industry Prospects
Per a report by Mordor Intelligence, the Lentiviral Vector Contract Development and Manufacturing Organizations market size is valued at $161.64 million in 2024 and expected to reach $231.89 million by 2029, at a CAGR of 6.20% during the period. Cell and gene therapies have seen success in treating previously untreatable or difficult-to-treat diseases, including certain types of cancer, genetic disorders, and autoimmune conditions. Hence, cell and gene therapy's growing emphasis and development are primary factors influencing the market growth.
Given the market potential, the collaboration between Charles River and Gate Institute seems to be well-timed. It also benefits Charles River strategically.
Other Recent Developments
Earlier this month, Charles River and Captain T Cell, a spinoff from the renowned Max Delbrück Center in Germany, announced a plasmid DNA and retrovirus vector production program agreement. To bring its gene-modified cell therapy to the clinic, Captain T Cell will utilize Charles River’s plasmid and viral vector production capabilities, supporting CGT developers.
In June 2024, Charles River announced the opening of a new Charles River Accelerator and Development Lab (“CRADL”) facility on Chestnut Street in Somerville, MA, a life sciences hub. The building offers a unique coexistence of private lab suites, rentable lab benches, and office space on the same floor to enable seamless communication, collaboration, and productivity.
In May 2024, the company announced the introduction of its Modular and Fast Track viral vector technology transfer frameworks, designed to drive successful, accelerated process transfer to its Maryland-based viral vector center of excellence (CoE) in as little as nine months.
Price Performance
In the past year, shares of CRL have risen 1.0% compared with the industry’s 6.2% growth.
Zacks Rank and Key Picks
Charles River currently carries a Zacks Rank #3 (Hold).
The Hims & Hers Heath stock has surged 178.0% in the past year. Estimates for the company’s earnings have moved north by 5.6% to 19 cents for 2024 in the past 30 days.
HIMS’ earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. In the last reported quarter, it posted an earnings surprise of a staggering 150%.
Estimates for The Joint’s 2024 earnings per share (EPS) have moved up 61.5% to 21 cents in the past 60 days. Shares of JYNT have surged 4.8% in the past year compared with the industry’s 3.0% growth.
In the last reported quarter, JYNT delivered an earnings surprise of 300%. It has a trailing four-quarter average earnings surprise of 18.75%.
Estimates for Medpace’s 2024 EPS have remained unchanged at $11.29 in the past 30 days. Shares of the company have surged 82.7% in the past year compared with the industry’s 6.2% growth.
MEDP’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 12.8%. In the last reported quarter, it delivered an earnings surprise of 30.6%.
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Charles River (CRL) Inks CDMO Deal With Gates Institutes
Charles River Laboratories International, Inc. (CRL - Free Report) entered into a lentiviral vector contract development and manufacturing organization (CDMO) agreement with Gates Institute. Per the terms of the deal, Gates Institute will utilize Charles River’s cutting-edge cell and gene therapy CDMO to develop chimeric antigen receptor (CAR) T-cell therapies for hematological cancers.
The deal underscores the Gates Institute's mission to provide advanced solutions for cell and gene therapy.With this strategic agreement, CRL will be able to expand its CDMO network for oncology patients.
Charles River’s Plasma DNA and Viral Vector CDMO
With years of plasma DNA and viral vector CDMO expertise and platform processes, including eXpDNA and Lentivation, Charles River has a standardized protocol with a high yield. The company has expanded its cell and gene therapy portfolio with several acquisition integrations and expansions to simplify complex supply chains that meet the growing demand for plasmid DNA, viral vector, and cell therapy services.
More on the News
Following the agreement, Gates Institution will have access to Charles River’s manufacturing platforms and viral vector CDMO center of excellence, leveraging a range of services, including process development evaluation of Gates Institute’s LVV backbone, phase-appropriate research grade, high–quality (HQ) plasmid DNA production and GMP LVV manufacturing.
An upcoming Investigational New Drug (IND) application for Phase I clinical trials will be backed by the products developed within the collaboration.
For investors’ note, the Gates Institute is a cell therapy translational research institute with biomanufacturing capabilities delivering first-in-human therapies. It is based at the University of Colorado Anschutz Medical Campus.
Image Source: Zacks Investment Research
Industry Prospects
Per a report by Mordor Intelligence, the Lentiviral Vector Contract Development and Manufacturing Organizations market size is valued at $161.64 million in 2024 and expected to reach $231.89 million by 2029, at a CAGR of 6.20% during the period. Cell and gene therapies have seen success in treating previously untreatable or difficult-to-treat diseases, including certain types of cancer, genetic disorders, and autoimmune conditions. Hence, cell and gene therapy's growing emphasis and development are primary factors influencing the market growth.
Given the market potential, the collaboration between Charles River and Gate Institute seems to be well-timed. It also benefits Charles River strategically.
Other Recent Developments
Earlier this month, Charles River and Captain T Cell, a spinoff from the renowned Max Delbrück Center in Germany, announced a plasmid DNA and retrovirus vector production program agreement. To bring its gene-modified cell therapy to the clinic, Captain T Cell will utilize Charles River’s plasmid and viral vector production capabilities, supporting CGT developers.
In June 2024, Charles River announced the opening of a new Charles River Accelerator and Development Lab (“CRADL”) facility on Chestnut Street in Somerville, MA, a life sciences hub. The building offers a unique coexistence of private lab suites, rentable lab benches, and office space on the same floor to enable seamless communication, collaboration, and productivity.
In May 2024, the company announced the introduction of its Modular and Fast Track viral vector technology transfer frameworks, designed to drive successful, accelerated process transfer to its Maryland-based viral vector center of excellence (CoE) in as little as nine months.
Price Performance
In the past year, shares of CRL have risen 1.0% compared with the industry’s 6.2% growth.
Zacks Rank and Key Picks
Charles River currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Hims & Hers Health, Inc. (HIMS - Free Report) , The Joint Corp. (JYNT - Free Report) , and Medpace Holdings (MEDP - Free Report) . While Hims & Hers and The Joint currently sport a Zacks Rank #1 (Strong Buy) each, Medpace Holdings carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Hims & Hers Heath stock has surged 178.0% in the past year. Estimates for the company’s earnings have moved north by 5.6% to 19 cents for 2024 in the past 30 days.
HIMS’ earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. In the last reported quarter, it posted an earnings surprise of a staggering 150%.
Estimates for The Joint’s 2024 earnings per share (EPS) have moved up 61.5% to 21 cents in the past 60 days. Shares of JYNT have surged 4.8% in the past year compared with the industry’s 3.0% growth.
In the last reported quarter, JYNT delivered an earnings surprise of 300%. It has a trailing four-quarter average earnings surprise of 18.75%.
Estimates for Medpace’s 2024 EPS have remained unchanged at $11.29 in the past 30 days. Shares of the company have surged 82.7% in the past year compared with the industry’s 6.2% growth.
MEDP’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 12.8%. In the last reported quarter, it delivered an earnings surprise of 30.6%.