Bioanalytical Systems, Inc., doing business as Inotiv, Invests in Laboratory Infrastructure and Data and Study Management Tec...
February 24 2021 - 8:33AM
Bioanalytical Systems, Inc. (NASDAQ:BASI) (the “Company”,
“We”, “Our” or “Inotiv”), doing business as Inotiv, a
leading provider of nonclinical and analytical contract research
services, today announced additional investments in laboratory
infrastructure and data and study management technologies in order
to support the Company’s growth strategy and service delivery goals
for clients.
In November 2020, Inotiv hired Todd Francisco as Director,
Laboratory Information Systems, to assist with Company directives
related to laboratory infrastructure and data and study management
technologies. Inotiv recently partnered with Centric Consulting,
LLC, a digital, business and technology solutions company, to
facilitate the design and implementation of an enterprise
technology solution for study management. The Company believes that
integrating study management activities and migrating multiple
legacy systems to a new, singular platform, will improve processes,
enable a more seamless, automated workflow and improve client
deliverables.
Concurrently, Inotiv has invested in software solutions to
support existing internal expertise in the area of SEND (Standard
for Exchange of Nonclinical Data) data management and delivery,
with the near-term objective to support and grow most of this
function with internal resources, as some of these services were
previously outsourced. Through involvement with organizations like
PHUSE (Pharmaceutical User Software Exchange) and its working
groups, the Company remains abreast of discussions about the
management and implementation of this standard. The Company
believes its experience, expertise, and ongoing exchange of
knowledge in this area will benefit their clients by enhancing
their ability to present data in the best possible light, in
conformity with evolving regulatory standards.
“We are a services company, focused on delivering high quality
data to our clients. Having one scalable, data and study management
platform is fundamental to our success. We believe our investments
in infrastructure and technology will support future growth,
enhance communication internally, reduce our outsourcing of
services, and further bolster our ability to service our clients,”
said Company President and Chief Executive Officer Robert Leasure,
Jr. “These efforts support our fundamental goals of enhancing our
work environment and delivering exceptional client
experience—always.”
Over the past several years, the Company has worked to integrate
processes and coordinate teams and services across their multiple
sites to move from a collective of broad responsibilities and
disparate systems to more focused and integrated teams, aligned
with client and internal needs.
About the Company
Bioanalytical Systems, Inc., doing business as
Inotiv, is a pharmaceutical development company providing contract
research services and monitoring instruments to emerging
pharmaceutical companies and the world's leading drug development
companies and medical research organizations. The Company focuses
on developing innovative services supporting its clients’ discovery
and development objectives for improved decision-making and
accelerated goal attainment. The Company’s products focus on
increasing efficiency, improving data, and reducing the cost of
taking new drugs to market. Visit inotivco.com for more information
about the Company.
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, the impact of the COVID-19 pandemic
on the economy, demand for our services and products and our
operations, including the measures taken by governmental
authorities to address the pandemic, which may precipitate or
exacerbate other risks and/or uncertainties 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 |
Bioanalytical Systems, Inc., dba Inotiv |
The Equity Group Inc. |
Beth A. Taylor, Chief Financial Officer |
Kalle Ahl, CFA |
(765) 497-8381 |
(212) 836-9614 |
btaylor@inotivco.com |
kahl@equityny.com |
|
|
|
Devin Sullivan |
|
(212) 836-9608 |
|
dsullivan@equityny.com |
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