Inotiv, a BASi Company, Announces Closing of Pre-Clinical Research Services Transaction, Including New Financing to Fund the Transaction and Expand Discovery and DMPK Business
BIOANALYTICAL SYSTEMS (BASI)
US:NASDAQ Investor Relations:
basinc.com/invest
Company Research
Source: GlobeNewswire
WEST LAFAYETTE, Ind., Dec. 03, 2019 (GLOBE NEWSWIRE) -- Bioanalytical Systems, Inc. (NASDAQ:BASI) (“BASi” or the “Company”) doing business as Inotiv, a leading provider of nonclinical and analytical contract research services, announced today the closing of the previously announced agreement to purchase substantially all of the assets of Pre-Clinical Research Services, Inc. (“PCRS”), a premier provider of surgical and medical device contract research services. In connection with the closing, the Company also closed on additional funding, which positions the Company to make future investments in organic growth in the drug metabolism and pharmacokinetics arena. The Company, which recently announced the rebranding of the Company’s contract research services business under the name Inotiv, closed on the PCRS business on December 1, 2019. In addition to the previously announced terms of the transaction, the Company purchased real property comprising the main facility, and additional pro
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