Inotiv, Inc. Announces Purchase of St. Louis Facility and Plans to Expand Capacity
May 27, 2021 at 08:33 am EDT
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Inotiv, Inc. announced that it has completed the purchase of its previously leased St. Louis facility for approximately $4.7 million. In early June 2021, the company intends to commence construction on approximately 20,000 square feet of unfinished shell space at the 50,000 square foot facility, expanding the company’s capacity to serve its client base with more comprehensive and integrated service offerings. The expansion will include laboratories for increased drug metabolism & pharmacokinetics technology and capability, as well as a new cell and molecular biology suite capable of delivering in vitro solutions in pharmacology and toxicology. The company will fund the purchase of the facility and expansion costs by proceeds from the public offering that the company completed in April 2021, and a new $4.8 million term loan from First Internet Bank.
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. 
