Inotiv acquires lab assets of Tennessee company

WEST LAFAYETTE, Ind. (Inside INdiana Business) — West Lafayette-based Inotiv Inc. (Nasdaq: NOTV) has acquired the physical assets of a shuttered laboratory services provider in Tennessee. The company says the $1.3 million deal includes lab instrumentation, stock consumables and chemicals, and lab benchwork, among other assets.

Inotiv, formerly known as Bioanalytical Services Inc., is a contract research organization that specializes in nonclinical and bioanalytical drug discovery and development. The company says the acquired assets will help accelerate the expansion of its regulatory lab services for biopharmaceutical companies.

“The state-of-the-art cell and molecular biology instrumentation we acquired will significantly accelerate the completion of a new regulated laboratory operation that we plan to build in support of our broadening biotherapeutics client base,” Dr. Kenneth Stewart, vice president of bioanalytical sciences for Inotiv, said in a news release. “We currently are exploring locations for the operation as well as building the scientific and business team that will execute on Inotiv’s expanded biotherapeutics initiative.”

Inotiv says the acquisition coincides with the $5 million expansion of its St. Louis-based operations and the recent acquisitions of HistoTox Labs Inc. and Bolder BioPATH Inc., both based in Colorado.