St. Louis-area animal research lab sold for $48 million

Horizon Development Group, a British life science company, intends to acquire SAGE Labs, a Maryland Heights-based laboratory that provides animal models to the research community, for $16 million in cash and $32 million in stock. SAGE has nearly 50 employees between its two locations in St. Louis and Boyertown, Penn.

SAGE CEO David Smoller said he doesn’t expect any SAGE employees to lose their jobs, but expects the operation to grow and add jobs in St. Louis or Boyertown. The deal comes one week after Sigma-Aldrich, SAGE’s former parent company, was acquired by German pharmaceutical and chemical company Merck KGaA for $17 billion.

Read more from the St. Louis Business Journal

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