-- Expected to establish a leading global provider of full-spectrum, preclinical and clinical biotherapeutics and biomarker analysis solutions --
-- Expected to enhance scale, broaden customer base and create significant cross-selling opportunities --
WEST LAFAYETTE, Ind., Jan. 04, 2022 (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 and research models and related products and services, and Synexa Life Sciences (“Synexa”), a world leader in clinical biomarker and bioanalysis research services, today jointly announced that they intend to form a collaboration that will accelerate Inotiv’s development of biomarkers essential to the understanding of safety and efficacy of novel biotherapeutics, enhancing the Company’s core preclinical discovery and safety assessment services.
This collaboration will provide Synexa with further international expansion of its clinical biomarker and bioanalytical offering. Under this commercial collaboration, Synexa will support Inotiv in developing and delivering comprehensive GLP biomarker and biotherapeutics bioanalytical services, and Synexa will lease laboratory space at Inotiv’s Rockville, MD, site to establish U.S. operations.
“The evolving complexity of novel biotherapeutics, such as cell and gene therapies, requires laboratories with real expertise to develop and validate methods and to perform analysis in the preclinical and clinical fields to satisfy the scrutiny of international regulatory authorities throughout the entirety of the drug development process,” said Kenneth Swart, Ph.D., Inotiv’s Senior Vice President of Bioanalytical and Biotherapeutic Sciences. “The complementary service offerings of Inotiv and Synexa will allow us to combine deep expertise and scientific capabilities to build a comprehensive bioanalytical and biomarker solution in the field of biotherapeutics with a priority to support our clients’ molecules from discovery into regulated preclinical (GLP) analysis.”
“We are very excited to combine forces with Inotiv in such a promising new collaboration,” said Synexa CEO Paul O’Riordan. “Our clients need new solutions in an ever more complex drug development environment, and a seamless transition from the preclinical to the clinical phase will help reduce risk and accelerate successful outcomes. Consistent and high-quality biomarker and bioanalytical solutions are key to bridging that gap. We look forward to working with Inotiv to bring this innovative idea to market.”
Benefits of the Collaboration
The expected benefits of the collaboration include:
- Simplifying the outsourcing of preclinical and clinical regulated biotherapeutics and biomarker services.
- Building preferred provider partnerships with fast-growing biopharmaceutical companies, focusing on a pipeline/follow-the-molecule approach.
- Combining deep scientific expertise across the DNA-RNA-Protein-Cell-Tissue continuum.
- Delivering potential cost and revenue synergies through SG&A expense savings and cross-selling existing clients across a broader platform of services.
About Inotiv
Inotiv, Inc. is a leading contract research organization dedicated to providing nonclinical and analytical drug discovery and development services and research models and related products and services. The Company’s products and services focus on bringing new drugs and medical devices through the discovery and preclinical phases of development, all while increasing efficiency, improving data, and reducing the cost of taking new drugs to market. Inotiv is committed to supporting discovery and development objectives as well as helping researchers realize the full potential of their critical R&D projects, all while working together to build a healthier and safer world. Further information about Inotiv can be found here: https://www.inotivco.com/.
About Synexa
Synexa Life Sciences is a global leader the application of biomarker and bioanalytical science to help biopharma clients meet their clinical development targets. Founded in 2003 as an early pioneer in the biomarker field, Synexa specializes in the development, validation and delivery of a wide range of complex and custom-designed assays, based on deep expertise in immunology and the impact of the immune system on human health and candidate drug performance. Headquartered at the Leiden Bio Science Park, The Netherlands, Synexa has GCLP accredited laboratories in London, Berlin and Cape Town. For more information, please visit www.synexagroup.com and follow them 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
View original content: https://www.globenewswire.com/news-release/2022/01/04/2360855/0/en/Inotiv-Inc-and-Synexa-Life-Sciences-Sign-Letter-of-Intent-to-Establish-Center-of-Excellence-for-Biotherapeutics-and-Biomarkers.html
