- Contract research organization Inotiv Inc (NASDAQ:NOTV) acquired Nashville, Tennessee-based Protypia Inc for $11 million.
- Inotiv specializes in nonclinical and analytical drug discovery, development services, research models, and related products and services.
- Protypia is a protein/peptide bioanalytical company offering high-quality, targeted tissue-based protein and peptide mass spectrometry.
- Deal consideration consists of approximately $9.5 million in cash, Inotiv common shares of approximately $0.9 million, and $0.6 million in unsecured subordinated promissory notes.
- The company expects to retain all existing Protypia employees and maintain operations in Nashville.
- “This highly-specialized technology and know-how significantly enhances our ability to support clients in developing 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,” said John Sagartz, Inotiv’s Chief Strategy Officer.
- Price Action: NOTV shares closed 2.53% higher at $10.94 on Thursday.
Ceridian HCM Sees Q3 Revenue $368M-$371M Vs $370.26M Est.; FY23 Revenue $1.49B-$1.51B Vs $1.49B Est.
Business Outlook
Based on information available as of August 2, 2023, Ceridian is issuing the following guidance for the third quarter and full year of 2023 as indicated below. Comparisons are
