Inotiv enters genetic toxicology business with acquisition
WEST LAFAYETTE, Ind. (Inside INdiana Business) — West Lafayette-based Inotiv Inc. (Nasdaq: NOTV) has acquired the toxicology assets of MilliporeSigma in Massachusetts. Financial terms of the deal were not disclosed, but Inotiv says the deal comes as MilliporeSigma discontinues its genetic toxicology operations.
The acquired assets are from MilliporeSigma’s BioReliance portfolio and includes the company’s client list, standard operating procedures, stock cultures, and historic control data. Inotiv says it plans to offer employment to certain MilliporeSigma employees who may have otherwise been displaced.
Inotiv says the acquisition is designed to ensure continuity of services for existing clients.
“This transaction with MilliporeSigma adds genetic toxicology to our suite of internal capabilities,” said Robert Leasure, chief executive officer of Inotiv. “We now have assembled in-house all of the critical nonclinical services necessary to support our clients’ goals of advancing to human clinical trials.”
In conjunction with the acquisition, Inotiv has hired Dr. Gopala Krishna as senior vice president of genetic toxicology. Krishna most recently served as principal consultant at Massachusetts-based PAREXEL International, and has previously worked for companies such as Pfizer (NYSE: PFE) and Abbott Laboratories (NYSE: ABT).
Inotiv says it also plans to lease space near MilliporeSigma’s facilities in Maryland.