JSR Life Sciences LLC, a global leader in life sciences materials and services, announced it has entered into a definitive agreement to transfer Crown Bioscience Inc. to Adicon Holdings Limited.
The deal will enable Crown Bioscience to operate as a standalone entity under Adicon’s ownership. The transaction, subject to customary closing conditions, is expected to close in 2026. Financial terms were not disclosed.
Crown Bioscience is a contract research organization (CRO) specializing in oncology and immuno-oncology drug discovery and development. The company has a comprehensive portfolio of translational oncology services, including its patient-derived xenograft models, tumor organoid platforms, immuno-oncology assays and bioinformatics solutions.
Adicon Holdings Limited, a portfolio company of The Carlyle Group, is a premier independent clinical laboratory provider in China.
Crown Bioscience’s portfolio of translational oncology services will transition to Adicon, positioning the company to accelerate advancements in precision medicine and drug discovery for oncology. Crown Bioscience’s Global Biospecimens business will remain fully integrated within JSR Life Sciences.
Until the transaction closes, Crown Bioscience will continue to operate as a wholly owned subsidiary of JSR Life Sciences, with no anticipated disruptions to ongoing services, projects or customer relationships.
According to data captured in the LevinPro HC database, this transaction represents the 74th Life Sciences R&D acquisition of the year, and the 17th in the CRO specialty. There were 35 CRO acquisition announcements in 2024, and 44 in 2023.
