Inotiv Inc. (NASDAQ: NOTV) (the “Company”, “We”, “Our” or “Inotiv”), is a leading contract research organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, today announced that the Company has completed the purchase of Nashville, Tennessee based Protypia, Inc. (“Protypia”). Protypia is an emerging protein/peptide bioanalytical company offering high-quality, targeted tissue-based protein and peptide mass spectrometry.
“The addition of Protypia’s quantitative tissue-based large molecule bioanalytical capabilities to Inotiv’s already established mass spectrometry-based bioanalytical offerings will enable clients to translate their clinical findings back into their discovery and preclinical pipelines and will be highly complementary to the GLP biomarker capabilities Inotiv is currently building at their Rockville, MD, facility,” said Daniel Liebler, Protypia’s Founder, President, and CEO. “In addition, biopsy-based protein characterization has the potential to segment patient populations for inclusion in clinical trials studying specific mechanisms of action of novel therapeutics. Such segmentation of patients will enhance the probability of success for molecules entering late-stage clinical development.”
John Sagartz, Inotiv’s Chief Strategy Officer, added, “This highly-specialized technology and know-how significantly enhances our ability to support clients in the development of safe and effective medicines, particularly in the areas of immuno-oncology and cell and gene therapy. The ability to precisely quantify protein levels in tissues, including paraffin-embedded tissues, opens exciting new avenues for scientists to explore as they investigate disease pathways.”
Transaction consideration totaled approximately $11.0 million, consisting of approximately $9.5 million in cash, Inotiv common shares having a value of approximately $0.9 million, and $0.6 million in unsecured subordinated promissory notes.
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The company expects to retain all existing Protypia employees and maintain operations in Nashville, TN.
Source: Biospace