Huntingdon Life Sciences and Harlan announce new equity funding
The combined company, soon to be called Envigo, has received a commitment of up to US$125m in minority equity financing
Huntingdon Life Sciences (HLS) and Harlan Laboratories, soon to be called Envigo, have announced that a group of institutional investors has committed up to US$125m in minority equity financing that can be used to fund future growth initiatives.
Brian Cass, CEO, commented: ‘We recently announced our company rebranding to Envigo as we complete the integration of HLS and Harlan to broaden the support we provide to life science research. This equity investment validates the success of that integration and further strengthens the company’s balance sheet to pursue additional organic and strategic investments. We look forward to leveraging the resources of the investor group as we continue to grow Envigo and enhance our market leading position.’
The new company is a leading provider of non-clinical contract research, research models, products and services to the pharmaceutical, crop protection and chemical industries, universities, government and other research organisations.
When launched, Envigo will have 3,800 employees and a revenue of approximately $500m. It will be the third largest provider of preclinical research services to the pharmaceutical industry.