West Lafayette-based Inotiv Inc. (Nasdaq: NOTV), a provider of nonclinical and analytical contract research services, has entered into an agreement to purchase HistoTox Labs Inc. in Colorado. HistoTox Labs is a full-service histopathology contract research organization.
Inotiv says the deal is valued at $22 million.
“HistoTox Labs’ well-trained scientific staff, with strong expertise in cell-typing, biodistribution, gene therapy and novel biomarker assay development, is a solid and strategic complement to Inotiv’s pathology team and our suite of services,” said Robert Leasure, Inotiv’s president. “More than two-thirds of HistoTox’s client base consists of emerging biopharma companies focused on cell and gene therapy, dovetailing well with our growth strategy.”
In addition to the routine histology and pathology capability at HistoTox Labs, the company says the immunohistochemistry and digital pathology capability is “cutting edge.”
“Since 2003, HistoTox Labs has been building an exceptional team while fostering a culture dedicated to scientific expertise, outstanding customer service and excellence in both the quality and timeliness of data we deliver,” added Jon Bishop, chief executive officer of HistoTox Labs. “I am very proud of what we have accomplished and I am confident that partnering with Inotiv will continue to bolster the HistoTox Labs team and create a meaningful impact on our clients’ drug development success.”