West Lafayette-based Bioanalytical Systems Inc. (Nasdaq: BASI) has broken ground on the expansion of its GLP toxicology facility in Mount Vernon. The company says the $6.5 million project will more than double the facility’s current capacity and add at least 15 new jobs.
Plans for the expansion at the 52-acre campus in Posey County were first announced nearly a year ago. The new addition, which BASi says will further its development of protein-based therapeutics, is expected to open by the end of 2019. The company says it is already in the planning phases for further expansion and added capacity heading into 2020.
"This expansion better positions BASi to support development of the most modern, targeted therapies for unmet needs in cancer and chronic degenerative diseases," said Peter Kissinger, founder and scientific adviser of BASi. "It’s an exciting time to see the benefits of decades of basic science now matter for patients."
The expansion is the latest growth effort for BASi, which acquired Missouri-based Seventh Wave Laboratories LLC earlier this year. The company also made capital investments in its pharm analysis lab and upgrades to its lab in West Lafayette.