WEST LAFAYETTE, Ind., Feb. 24, 2021 (GLOBE NEWSWIRE) -- Bioanalytical Systems, Inc. (NASDAQ:BASI) (the “Company”, “We”, “Our” or “Inotiv”), doing business as Inotiv, a leading provider of nonclinical and analytical contract research services, today announced additional investments in laboratory infrastructure and data and study management technologies in order to support the Company’s growth strategy and service delivery goals for clients.
In November 2020, Inotiv hired Todd Francisco as Director, Laboratory Information Systems, to assist with Company directives related to laboratory infrastructure and data and study management technologies. Inotiv recently partnered with Centric Consulting, LLC, a digital, business and technology solutions company, to facilitate the design and implementation of an enterprise technology solution for study management. The Company believes that integrating study management activities and migrating multiple legacy systems to a new, singular platform, will improve processes, enable a more seamless, automated workflow and improve client deliverables.
Concurrently, Inotiv has invested in software solutions to support existing internal expertise in the area of SEND (Standard for Exchange of Nonclinical Data) data management and delivery, with the near-term objective to support and grow most of this function with internal resources, as some of these services were previously outsourced. Through involvement with organizations like PHUSE (Pharmaceutical User Software Exchange) and its working groups, the Company remains abreast of discussions about the management and implementation of this standard. The Company believes its experience, expertise, and ongoing exchange of knowledge in this area will benefit their clients by enhancing their ability to present data in the best possible light, in conformity with evolving regulatory standards.
“We are a services company, focused on delivering high quality data to our clients. Having one scalable, data and study management platform is fundamental to our success. We believe our investments in infrastructure and technology will support future growth, enhance communication internally, reduce our outsourcing of services, and further bolster our ability to service our clients,” said Company President and Chief Executive Officer Robert Leasure, Jr. “These efforts support our fundamental goals of enhancing our work environment and delivering exceptional client experience—always.”
Over the past several years, the Company has worked to integrate processes and coordinate teams and services across their multiple sites to move from a collective of broad responsibilities and disparate systems to more focused and integrated teams, aligned with client and internal needs.
About the Company
Bioanalytical Systems, Inc., doing business as Inotiv, is a pharmaceutical development company providing contract research services and monitoring instruments to emerging pharmaceutical companies and the world's leading drug development companies and medical research organizations. The Company focuses on developing innovative services supporting its clients’ discovery and development objectives for improved decision-making and accelerated goal attainment. The Company’s products focus on increasing efficiency, improving data, and reducing the cost of taking new drugs to market. Visit inotivco.com for more information about the Company.
This release may contain forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to changes in the market and demand for our products and services, the development, marketing and sales of products and services, changes in technology, industry and regulatory standards, the timing of acquisitions and the successful closing, integration and business and financial impact thereof, the impact of the COVID-19 pandemic on the economy, demand for our services and products and our operations, including the measures taken by governmental authorities to address the pandemic, which may precipitate or exacerbate other risks and/or uncertainties and various other market and operating risks, including those detailed in the Company's filings with the U.S. Securities and Exchange Commission.
|Company Contact||Investor Relations|
|Bioanalytical Systems, Inc., dba Inotiv||The Equity Group Inc.|
|Beth A. Taylor, Chief Financial Officer||Kalle Ahl, CFA|
|(765) 497-8381||(212) 836-9614|