Inotiv, Inc. Continues to Expand Genetic Toxicology Offering with Support of GLP Assays at Rockville, MD, Location
Inotiv (NASDAQ: NOTV) announced a significant expansion in its capacity to conduct Good Laboratory Practices (GLP) studies for in vitro cytogenetics and bacterial mutation assays. This enhancement is part of the Standard Battery of genetic toxicology studies needed for first-in-human evaluations of new therapeutics. Following the acquisition of genetic toxicology assets from MilliporeSigma in July 2021 and Integrated Laboratory Systems in January 2022, Inotiv aims to meet increasing demand and achieve full operational capacity by early 2023.
- Expansion of GLP studies capability supports growing demand.
- Acquisition of key assets enhances genetic toxicology services.
- Expected operational capacity by early 2023 indicates growth.
- Currently booking studies months out, indicating high demand may strain resources.
WEST LAFAYETTE, Ind., July 26, 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, today announced that the Company has greatly expanded its capacity to conduct Good Laboratory Practices (“GLP”) studies for in vitro cytogenetics and bacterial mutation assays as components of the Standard Battery of genetic toxicology studies required to support first-in-human evaluations of novel therapeutics.
Since acquiring key genetic toxicology assets from MilliporeSigma’s BioReliance® portfolio in July 2021, the Company has been hiring and investing in validating and further developing those assets to offer clients critical genetic toxicology services to support their drug development goals. With the acquisition of North Carolina-based Integrated Laboratory Systems, LLC (now Inotiv RTP) in January 2022, the Company further expanded its GLP safety assessment offerings for in vivo and in vitro general and genetic toxicology services, including the addition of significant pathology and toxicology expertise, as well as adding genomics, bioinformatics and computational toxicology services.
“Our genetic toxicology service offering is expanding in order to meet growing demand and we continue to develop our program across these two sites to help drive research and innovation for our clients,” said David Allen, Ph.D., Vice President, Inotiv RTP. “Although we are currently booking studies several months out, we are continually increasing capacity and capabilities at both our Rockville and Inotiv RTP sites with the objective of reaching full operational capacity by early 2023.”
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 |
FAQ
What recent capacity expansion did Inotiv announce related to genetic toxicology studies?
What acquisitions has Inotiv made to enhance its service offerings for drug development?
When is Inotiv expected to reach full operational capacity for its GLP studies?
What is the current status of study bookings at Inotiv?
