- 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.
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