Bioanalytical Systems Inc. (NASDAQ:BASI) has announced its acquisition of the business unit of Smithers Avanza Toxicology Services, a contract research organization located in Maryland. The acquired business will operate as a wholly-owned subsidiary of BASi under the name BASi Gaithersburg.
“The acquisition of the Smithers Avanza Toxicology Services business unit solidly supports BASi’s vision of strategic growth,” said Robert Leasure, Jr., BASi’s president and chief executive officer. “With strong demand for our toxicology and drug disposition services, we needed to add space and talent. The team that is joining us from Smithers in Gaithersburg will allow us to provide more resources to our clients, while remaining small enough to be flexible, responsive and consultative. Not only will the Gaithersburg site provide increased capacity for routine safety assessment, we also acquired significant expertise in developmental and reproductive toxicology.”
BASi acquired the assets of the company, which specializes in general toxicology, vaccine safety and developmental and reproductive toxicology studies in support of pharmaceutical and chemical industry research and development, for approximately $1.2 million in cash.