BioMotiv secures up to $10 million investment from Charles River Laboratories

Story excerpt provided by Crain’s Cleveland Business.

BioMotiv LLC of Shaker Heights has secured an investment from Wilmington, Mass.-based Charles River Laboratories International Inc. that could reach up to $10 million.

As part of the agreement, Charles River (NYSE: CRL) will provide preclinical development services that will help BioMotiv — the for-profit arm of The Harrington Project for Discovery & Development, a $250 million drug development effort launched out of University Hospitals — advance discoveries sourced from academic research and non-governmental organizations into new medicines.

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Originally published April 14, 2016.