West Lafayette-based Bioanalytical Systems Inc. (Nasdaq: BASI) is growing its services. The contract research services company plans to expand its offerings by adding cardiovascular safety pharmacology testing capabilities, a move it says is nearly a year in the making.
The new offering will be added to the company’s existing respiratory and central nervous system safety pharmacology capabilities. BASi says safety pharmacology evaluations are “critical for assessing the impact of drug candidates.”
“The initiative to add cardiovascular safety pharmacology began in April 2020, as we assembled our cardiovascular safety pharmacology team and conducted validation studies to fully support this new offering,” said Robert Leasure, chief executive officer of BASi. “This is yet another step we’re taking to support our growth strategy and expand our current suite of services to provide the broad scope and right-sized solutions crucial to the success of our clients.”
The company says it previously relied on subcontractors for cardiovascular safety pharmacology assessments. Leasure says the company has made “significant investments” over the past year to reduce its subcontracted and outsourced work.
“This is a continuation of that strategy that we believe will allow us to improve speed and control quality of services while also enhancing margins,” Leasure added.
BASi did not specify if any new jobs would be created as a result of the move.