- 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.
What’s Going On With Alibaba Shares
Alibaba Group Holding Ltd - ADR (NYSE: BABA) shares are trading lower by 2.80% to $85.41 going into the close of Friday's session. The stock is trading lower amid weakness in Chinese stocks, possibly due to concerns over
