Inotiv, Inc. and Synexa Life Sciences Sign Letter of Intent to Establish Center of Excellence for Biotherapeutics and Biomarkers
January 04 2022 - 8:33AM
Inotiv, Inc. (NASDAQ: NOTV) (the “Company”, “We”, “Our” or
“Inotiv”), a leading contract research organization
specializing in nonclinical and analytical drug discovery and
development services and research models and related products and
services, and Synexa Life Sciences (“Synexa”), a world leader in
clinical biomarker and bioanalysis research services, today jointly
announced that they intend to form a collaboration that will
accelerate Inotiv’s development of biomarkers essential to the
understanding of safety and efficacy of novel biotherapeutics,
enhancing the Company’s core preclinical discovery and safety
assessment services.
This collaboration will provide Synexa with further
international expansion of its clinical biomarker and bioanalytical
offering. Under this commercial collaboration, Synexa will support
Inotiv in developing and delivering comprehensive GLP biomarker and
biotherapeutics bioanalytical services, and Synexa will lease
laboratory space at Inotiv’s Rockville, MD, site to establish U.S.
operations.
“The evolving complexity of novel biotherapeutics,
such as cell and gene therapies, requires laboratories with real
expertise to develop and validate methods and to perform analysis
in the preclinical and clinical fields to satisfy the scrutiny of
international regulatory authorities throughout the entirety of the
drug development process,” said Kenneth Swart, Ph.D., Inotiv’s
Senior Vice President of Bioanalytical and Biotherapeutic Sciences.
“The complementary service offerings of Inotiv and Synexa will
allow us to combine deep expertise and scientific capabilities to
build a comprehensive bioanalytical and biomarker solution in the
field of biotherapeutics with a priority to support our clients’
molecules from discovery into regulated preclinical (GLP)
analysis.”
“We are very excited to combine forces with Inotiv
in such a promising new collaboration,” said Synexa CEO Paul
O’Riordan. “Our clients need new solutions in an ever more complex
drug development environment, and a seamless transition from the
preclinical to the clinical phase will help reduce risk and
accelerate successful outcomes. Consistent and high-quality
biomarker and bioanalytical solutions are key to bridging that gap.
We look forward to working with Inotiv to bring this innovative
idea to market.”
Benefits of the CollaborationThe
expected benefits of the collaboration include:
- Simplifying the outsourcing of preclinical and clinical
regulated biotherapeutics and biomarker services.
- Building preferred provider partnerships with fast-growing
biopharmaceutical companies, focusing on a
pipeline/follow-the-molecule approach.
- Combining deep scientific expertise across the
DNA-RNA-Protein-Cell-Tissue continuum.
- Delivering potential cost and revenue synergies through
SG&A expense savings and cross-selling existing clients across
a broader platform of services.
About Inotiv
Inotiv, Inc. is a leading contract research
organization dedicated to providing nonclinical and analytical drug
discovery and development services and research models and related
products and services. The Company’s products and services focus on
bringing new drugs and medical devices through the discovery and
preclinical phases of development, all while increasing efficiency,
improving data, and reducing the cost of taking new drugs to
market. Inotiv is committed to supporting discovery and development
objectives as well as helping researchers realize the full
potential of their critical R&D projects, all while working
together to build a healthier and safer world. Further information
about Inotiv can be found here: https://www.inotivco.com/.
About Synexa
Synexa Life Sciences is a global leader the
application of biomarker and bioanalytical science to help
biopharma clients meet their clinical development targets. Founded
in 2003 as an early pioneer in the biomarker field, Synexa
specializes in the development, validation and delivery of a wide
range of complex and custom-designed assays, based on deep
expertise in immunology and the impact of the immune system on
human health and candidate drug performance. Headquartered at the
Leiden Bio Science Park, The Netherlands, Synexa has GCLP
accredited laboratories in London, Berlin and Cape Town. For more
information, please visit www.synexagroup.com and follow them on
LinkedIn.
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, expansion and related
efforts, 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 |
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Investor Relations |
Inotiv, Inc. |
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The Equity Group Inc. |
Beth A. Taylor, Chief Financial Officer |
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Kalle Ahl, CFA |
(765) 497-8381 |
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(212) 836-9614 |
btaylor@inotivco.com |
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kahl@equityny.com |
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Devin Sullivan |
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(212) 836-9608 |
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dsullivan@equityny.com |
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