Inotiv, Inc. Announces New Site Openings and Expansions Supporting Additional Capacity and Service Offerings
Inotiv, Inc. (NASDAQ: NOTV) announced significant expansions with the opening of its new lab facility in Rockville, MD, dedicated to bioanalysis and biomarker assays for biotherapeutics. Additionally, a pathology campus and training center in Kalamazoo, MI, is set to open in January 2023, enhancing nonclinical pathology services. The Boulder, CO facility has also expanded, increasing capacity by 30%. Inotiv's organic growth rate exceeded 30% through Q3 FY 2022, aiming to address service bottlenecks and enhance client support in drug development.
- Opening of a new lab facility in Rockville, MD, enhancing bioanalysis and biomarker assay services.
- Scheduled opening of a pathology campus and training center in Kalamazoo, MI, supporting nonclinical pathology services.
- 30% increase in capacity from the Boulder, CO expansion, improving discovery pharmacology and histopathology offerings.
- Organic growth rate of over 30% for the Discovery and Safety Assessment segment through Q3 FY 2022.
- None.
WEST LAFAYETTE, Ind., Dec. 08, 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, announced today the opening of the second phase of its lab facility in Rockville, MD, the scheduled opening date of January 2023 for its pathology campus and training center in Kalamazoo, MI, and the opening and occupancy of the site expansion at its facility in Boulder, CO. These openings and expansions reflect the Company’s ongoing initiatives to broaden its portfolio of pre-clinical and clinical service offerings.
On December 7, the Company hosted a ribbon cutting for the opening of its lab facility in Rockville, MD, dedicated to the support of bioanalysis and biomarker assays for biotherapeutics. The center of excellence will support the entire spectrum of biotherapeutic drug development, from early-stage discovery to clinical trials. In addition to the bioanalytical and biomarker services, the site will offer customized solutions for novel modalities including cell and gene therapy products, further broadening Inotiv’s preclinical service offerings. As previously announced, Synexa Life Sciences will continue its collaboration with Inotiv’s biotherapeutics team by providing their clinical bioanalytical and biomarker services. This Synexa Life Sciences offering will be co-located with Inotiv’s Rockville facility.
Inotiv has also scheduled January 2023 for the opening of a pathology campus and training center in Kalamazoo, MI, focused on providing nonclinical and investigative pathology services in toxicology and medical device studies required to support first-in-human therapeutics.
“The addition of this pathology campus allows the pharmaceutical industry greater access to pathology expertise in a wide range of therapeutic areas, while also helping to develop the next generation of industry pathologists,” said Adam Aulbach, DVM, DACVP, Vice President of Pathology at Inotiv. “With this expansion, we are committing ourselves to creating solutions for current and future pathology needs in the pharmaceutical, medical device, and agrochemical development spaces.”
Inotiv’s pathology team has recently grown to over 30 board certified veterinary anatomic and clinical pathologists supported by extensive histopathology and related support staff, making its pathology services one of the largest and most broadly capable pathology CROs in the industry.
Finally, the Company has completed the expansion of its Boulder, CO, facility, resulting in approximately
Robert Leasure, Jr., Inotiv’s President and Chief Executive Officer, concluded, “Inotiv remains steadfast in our commitment to develop, enhance, and expand our facilities and offerings to help support our clients in developing safe and effective medicines. Our Discovery and Safety Assessment (DSA) business segment has continued to grow organically in excess of historical growth rates of
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/.
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, governmental regulations, inspections and investigations, the impact of site closures and consolidations, 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 | Investor Relations | |
| Inotiv, Inc. | The Equity Group Inc. | |
| Beth A. Taylor, Chief Financial Officer | Devin Sullivan | |
| (765) 497-8381 | (212) 836-9608 | |
| btaylor@inotivco.com | dsullivan@equityny.com |
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