Huntingdon rescued by US backer

UK contract-research firm Huntingdon Life Sciences, which has beenlosing orders from pharmaceutical firms and has been criticized by animal rights activists over its treatment of laboratory animals, has been saved from closure thanks to securing a financing deal with an anonymous US financial group. The deal was announced just as the firm's L22.6 million ($32.1 million) debt facility with the Royal Bank of Scotland was due to expire (Marketletter January 22).

Both Huntingdon and the Royal Bank have been targeted by anti-vivisection groups, most notably Stop Huntingdon Animal Cruelty. The latter group issued a statement saying that it will step up its efforts across North America to ensure Huntingdon's "financial horizons remain bleak," and added that "SHAC activists promise to be relentless against anyone still connected to the company."

Speaking before the rescue bid emerged, Joe Bateman of SHAC said that if Huntingdon "does get help with its refinancing from any American investors, we promise to find out who stepped in, and we will hold them accountable for the 500 animals that will die every extra day [the firm] remains open." He went on to say it is SHAC's objective to see Huntingdon close, claiming that "any investor that tries to prevent this inevitable foreclosure will be dragged through the mud."