Inotiv Acquires Laboratory Instrumentation for Discovery and Development of Novel Therapies
July 15, 2021 at 08:33 am EDT
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Inotiv, Inc. (the “Company” or “Inotiv”) announced that the Company has purchased the physical assets of a Tennessee-based laboratory services provider that ceased operations. The assets, which include lab instrumentation, stock consumables and chemicals, lab benchwork, and office furniture, were acquired for approximately $1.3 million, a substantial discount to the Company’s estimate of fair market value. The acquired assets will accelerate the Company’s expansion of its regulated (GLP/GCLP) laboratory services and solutions for biopharmaceutical companies pursuing cell and gene therapy (CGT) as well as traditional biotherapeutics and immunotherapies. This investment in laboratory assets coincides with recent announcements of expanded drug discovery laboratory and in-life services at Inotiv’s St. Louis-based operation and recently acquired Boulder, CO, sites (formerly Bolder BioPATH, Inc. and HistoTox Labs, Inc.), the footprints of which effectively extended the Company’s breadth of DMPK, cell & molecular biology and pharmacology offerings for clients pursuing traditional small molecule therapies and novel cell and gene therapies.
Inotiv, Inc. is a contract research company, which is engaged in providing nonclinical and analytical drug discovery and development services to the pharmaceutical and medical device industries and selling a range of research-quality animals and diets to the same industries, as well as academia and government clients. Its products and services focus on bringing new drugs and medical devices through the discovery and preclinical phases of development. It operates through two segments: Discovery and Safety Assessment (DSA) and Research Models and Services (RMS). The DSA segment supports the discovery, nonclinical development and clinical development needs of researchers and clinicians for primarily small molecule drug candidates, as well as biotherapeutics and biomedical devices. The RMS segment offer access to a range of small and large research models for basic research and drug discovery and development, as well as specialized models for specific diseases and therapeutic areas.
INOTIV, INC. 
