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Inotiv, Inc. announces that it has agreed to buy substantially every asset of HistoTox Labs, Inc.
FREMONT, CA: Inotiv, Inc., the top provider of nonclinical and analytical contract research services, announces that it has entered into an agreement to buy substantially every asset of HistoTox Labs, Inc., a full-service histopathology contract research organization (CRO) that provides medically related nonclinical and clinical services to the pharmaceutical, biotech, and academic communities.
“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 Inotivs pathology team and our suite of services,” said Robert Leasure, Jr., Inotivs President and Chief Executive Officer. “More than two-thirds of HistoToxs client base consists of emerging biopharma companies focused on cell and gene therapy, dovetailing well with our growth strategy.”
Mr Leasure continued, “Over the past three years, HistoTox Labs has grown revenue organically at a compounded annual growth rate in excess of 30 percent. We believe that we have identified excellent cross-selling opportunities and expect to leverage their newly renovated facility in Boulder, CO, which we estimate has the capacity to accommodate an increase in HistoTox Labs revenue from 2020 levels. This acquisition positions us for further growth and enables us to better serve our clients and help them achieve their research and development goals.”
Along with the regular histology and pathology abilities at HistoTox Labs, the immunohistochemistry and digital pathology capabilities are innovative, with an extensive library of tailored antibodies and highest-level technology like AT2 (Aperio) high-throughput slide scanners, a Vectra Polaris Immunofluorescent slide scanner, and the Visiopharm software solutions platform, which includes AI abilities for their image analysis requirements.
“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.”