WEST LAFAYETTE, Ind., July 12, 2021 (GLOBE NEWSWIRE) -- Inotiv, Inc. (NASDAQ:NOTV) (the “Company”, “We”, “Our” or “Inotiv”), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services, today announced that the Company has acquired key genetic toxicology assets from MilliporeSigma’s BioReliance® portfolio, including standard operating procedures, stock cultures, historic control data and client list. While Inotiv did not disclose the specific financial terms, the transaction consists of a sales-based royalty agreement and does not require upfront funding from the Company.
Robert Leasure, Jr., President and CEO of Inotiv, commented, “This transaction with MilliporeSigma adds genetic toxicology to our suite of internal capabilities. We now have assembled in-house all of the critical nonclinical services necessary to support our clients’ goals of advancing to human clinical trials.”
MilliporeSigma is discontinuing their Genetic Toxicology operations. The agreement with Inotiv is designed to ensure continuity of services for existing clients. Inotiv also plans to offer employment to certain MilliporeSigma employees who otherwise may have been displaced.
To facilitate entry into the genetic toxicology business, Inotiv also announced that Gopala Krishna, PhD, MBA, has joined Inotiv as Senior Vice President, Genetic Toxicology, to lead the Company’s genetic toxicology service offering. Dr. Krishna is a Diplomate, American Board of Toxicology, a Fellow of the Academy of Toxicological Sciences, and has over three decades of pharmaceutical industry experience as a drug discovery and development nonclinical leader at large and small Pharma companies, such as Pfizer, Abbott Labs, MGI Pharma, Enzon, and Supernus. He has also served as Professor (Adjunct) at the University of Michigan teaching Pharmacology & Toxicology in the School of Public Health, Ann Arbor, MI. Most recently he served as Principal Consultant - Nonclinical at PAREXEL International. Currently, he is the President of National Capital Area Chapter (NCAC) of Society of Toxicology (SOT) and has been a contributing senior member of the Environmental Mutagenesis and Genomics (Genetic Toxicology) Society (EMGS) for over 35 years.
“Evaluation of the potential for novel therapeutics to interact with and alter DNA is a key element of the safety assessment of those drug candidates,” said John E. Sagartz, Chief Strategy Officer of Inotiv. “Inotiv historically has relied on other vendors to provide these key assessments. I’m excited to announce the addition of the BioReliance® assets and Dr. Krishna, and we look forward to developing the genetic toxicology business. We believe this is another significant milestone for Inotiv and our clients.”
Dr. Krishna commented, “I am delighted to join Inotiv with the task of expanding the service offering to include genotoxicity capabilities and look forward to leveraging the assets of the BioReliance® portfolio to assist our clients in the development of safe novel therapeutics.”
In support of this new offering, Inotiv expects to lease space near the current MilliporeSigma’s facilities in Rockville, Maryland.
About the Company
Inotiv, Inc. is a leading contract research organization specializing in nonclinical and analytical drug discovery and development services. The Company focuses on developing innovative services supporting its clients’ discovery and development objectives for improved decision-making and accelerated goal attainment. The Company’s products focus on increasing efficiency, improving data, and reducing the cost and time of taking new drugs to market. Visit inotivco.com for more information about the Company.
About the Life Science Business of Merck KGaA, Darmstadt, Germany
The Life Science business of Merck KGaA, Darmstadt, Germany, which operates as MilliporeSigma in the U.S. and Canada, has some 22,000 employees and 59 manufacturing sites worldwide, with a portfolio of more than 300,000 products focused on scientific discovery, biomanufacturing and testing services.
Merck KGaA, Darmstadt, Germany, a leading science and technology company, operates across healthcare, life science and electronics. Around 58,000 employees work to make a positive difference to millions of people’s lives every day by creating more joyful and sustainable ways to live. From advancing gene editing technologies and discovering unique ways to treat the most challenging diseases to enabling the intelligence of devices – the company is everywhere. In 2020, Merck KGaA, Darmstadt, Germany, generated sales of € 17.5 billion in 66 countries.
The company holds the global rights to the name and trademark “Merck” internationally. The only exceptions are the United States and Canada, where the business sectors of Merck KGaA, Darmstadt, Germany operate as EMD Serono in healthcare, MilliporeSigma in life science, and EMD Electronics. Since its founding in 1668, scientific exploration and responsible entrepreneurship have been key to the company’s technological and scientific advances. To this day, the founding family remains the majority owner of the publicly listed company. For more information about Merck, KGaA, Darmstadt, Germany, visit www.emdgroup.com.
Follow MilliporeSigma on Twitter @MilliporeSigma, on Facebook @MilliporeSigma and on LinkedIn.
This release may contain forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to changes in the market and demand for our products and services, the development, marketing and sales of products and services, changes in technology, industry and regulatory standards, the timing of acquisitions and the successful closing, integration and business and financial impact thereof, the impact of the COVID-19 pandemic on the economy, demand for our services and products and our operations, including the measures taken by governmental authorities to address the pandemic, which may precipitate or exacerbate other risks and/or uncertainties, expansion and related efforts, and various other market and operating risks, including those detailed in the Company's filings with the U.S. Securities and Exchange Commission.
Company Contact
Bioanalytical Systems, Inc., dba Inotiv
Beth A. Taylor, Chief Financial Officer
Phone: 765.497.8381
btaylor@inotivco.com
Investor Relations
The Equity Group Inc.
Kalle Ahl, CFA
(212) 836-9614
kahl@equityny.com
Devin Sullivan
(212) 836-9608
dsullivan@equityny.com
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