BASi Adds Missouri Lab

Posted: Updated:
WEST LAFAYETTE -

West Lafayette-based Bioanalytical Systems Inc. (Nasdaq: BASI) has announced an agreement to acquire a Missouri contract research consultant. The deal for Seventh Wave Laboratories LLC involves $7 million in cash and 1.5 million BASi shares. BASi Senior Vice President of Preclinical Services Philip Downing calls the combination "an excellent strategic fit."

The move follows BASi's investment late last year to expand its laboratory operations in Mt. Vernon, which could be complete within a year. In December, it detailed a "multi-tiered" strategy that includes hiring principal investigators and research analysts for its bioanalytical and pharm analysis labs and to expand cross-training of current staff members. In the weeks before its most recent quarterly earnings report, BASi announced a strategic alliance with another Tippecanoe County-based company, Phlebotics Inc., which aims to boost beta testing and product development capabilities in an effort to bring products to market more quickly. Peter Kissinger is founder of both BASi and Phlebotics Inc.

With regard to the Seventh Wave Laboratories acquisition, Downing adds "for both BASi and Seventh Wave Laboratories, our success has been built on a solid foundation of quality, on-time delivery and a commitment to providing personalized and responsive service to our clients. We believe Seventh Wave's scientific depth and expertise in histopathology, pharmacokinetics, investigative toxicology and pharmacology model development perfectly complement BASi's offerings and make this combination an excellent strategic fit."

The companies say highlights of the combination include boosting lead optimization and candidate selection, in vivo toxicology and pharmacology capabilities and Pharmacokinetics.

Downing adds "for both BASi and Seventh Wave Laboratories, our success has been built on a solid foundation of quality, on-time delivery and a commitment to providing personalized and responsive service to our clients. We believe Seventh Wave's scientific depth and expertise in histopathology, pharmacokinetics, investigative toxicology and pharmacology model development perfectly complement BASi's offerings and make this combination an excellent strategic fit."

Seventh Wave President and founder John Sagartz says "over the past 15 years, we've engaged hundreds of clients to facilitate their discovery and development needs. With BASi, we add capabilities that have often been requested, but have not been available through Seventh Wave alone. Through extensive collaborations over the past several years, it is apparent that the two organizations share a focus on delivering quality and timely services. We expect the enhanced capabilities and shared core values to facilitate enriched client interactions and further growth."

You can connect to more details on the acquisition by clicking here and view the filing with the U.S. Securities and Exchange Commission by clicking here.

  • Perspectives

    • Circling Back on WeWork

      Back in July when we first discussed WeWork, this fast-growing but money-losing venture was one of the most talked-about IPOs in years. At that time, we noted that it was too early to say what would happen, but “it should be very interesting to watch it all play out.” Turns out, that was a massive understatement!

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (IIB Photo/Alex Brown)

      India Wants to Partner with Indiana on Sports

      Indiana Secretary of Commerce Jim Schellinger says a recent trade trip to India included a rare meeting that produced some interesting results.  Schellinger and Governor Eric Holcomb were granted an audience with Indian Prime Minister Narendra Modi.  “We were taken aback at how well he knew Indiana,” said Schellinger. “He knew our (economic) background, our educational background, our history of sports statewide,” said Schellinger, who added...

    • (Image courtesy of Indiana State University)

      ISU 'Dreams' of Major Sports Facilities Improvement

      When Indiana State University developed a master plan for its campus, it didn’t include sports and athletic facilities. That’s about to change.  The university this week revealed a major plan for their sports facilities, according to a report from The Tribune Star of Terre Haute. 

    • Circling Back on WeWork

      Back in July when we first discussed WeWork, this fast-growing but money-losing venture was one of the most talked-about IPOs in years. At that time, we noted that it was too early to say what would happen, but “it should be very interesting to watch it all play out.” Turns out, that was a massive understatement!

    • (Image Courtesy: Purdue Agricultural Communication)

      Slow Harvest in Indiana, Mixed Yield Estimates

      As fall harvest rolls along across the Corn Belt, the U.S. Department of Agriculture has updated its predictions of the size of the nation’s corn and soybean crops. In Indiana, the data shows the state’s corn yield has improved, while soybeans dropped over the past month. 

    • Lauren Petersen and Johna Norton

      United Way Names New Board Members

      United Way of Central Indiana has elected Lauren Petersen (pictured) and Johna Norton (pictured) its newest board members. Petersen currently serves as TechPoint’s senior director of relationship management. She graduated summa cum laude from Ball State University in 2011 where she earned a bachelor’s degree in urban planning and development. Norton serves senior vice president, Global Quality for Eli Lilly and Co.