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WEST LAFAYETTE, Ind. (Inside INdiana Business) – Inotiv Inc., based in West Lafayette (Nasdaq: Inotiv) has acquired Plato BioPharma Inc., an in vivo pharmacology research and drug discovery company in Colorado. Inotiv says the deal, valued at $ 15 million in cash and stock, will bolster its growth operations in the Boulder, Colo. Area.
Plato BioPharma specializes in cardiovascular, renal, pulmonary and hepatic therapy. Inotiv says the company is currently expanding its footprint in Boulder to meet growing demand for its services.
“The acquisition of PBI marks a new milestone for Inotiv as we continue to execute our strategy to create a comprehensive suite of contract research services that spans the entire continuum of drug discovery and preclinical development. Said Dr. John Sagartz, Chief Strategy Officer of Inotiv. . “PBI’s expertise and integrative approach to functional and physiological measurements, histological evaluations and biomarker analyzes are complementary to our existing range of services. This addition allows us to support and accelerate PBI’s growth plans, while further expanding into more physiological and pharmacological offerings.
Inotiv says it expects to retain all 34 PBI employees.
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