West Lafayette-based Inotiv Inc. (Nasdaq: NOTV) is continuing its acquisition strategy. The contract research organization announced Friday it has acquired Protypia Inc., a Tennessee-based bioanalytical company, in a cash and stock deal valued at $11 million.
Protypia specializes in tissue-based protein and peptide mass spectrometry.
The company’s Target Sufficiency platform analyzes the target of a particular drug to see how it will respond to a therapeutic, which “enables development of more effective therapeutic strategies and personalized therapies,” according to the Protypia website.
“This highly-specialized technology and know-how significantly enhances our ability to support clients in the development of safe and effective medicines, particularly in the areas of immuno-oncology and cell and gene therapy,” Inotiv Chief Strategy Officer John Sagartz said in written remarks. “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.”
Inotiv says it expects to retain all existing Protypia employees and maintain the company’s operations in Nashville, Tenn.
The acquisition of Protypia is Inotiv’s third acquisition this year and seventh over the past 12 months.
Over that time, the company has acquired MilliporeSigma in Massachusetts, Gateway Pharmacology Laboratories in Missouri, Indianapolis-based Envigo RMS Holding Corp., Plato BioPharma Inc. in Colorado, Orient BioResource Center Inc. in Texas., and Histion LLC.