Inotiv Inc., a non-clinical contract research organization, has announced the $11 million acquisition of Nashville-based Protypia Inc., a biotechnology company that provides analytical proteomics solutions to support the development of new immunotherapeutics for oncology and autoimmune diseases.
“The addition of Protypia’s quantitative tissue-based large molecule bioanalytical capabilities to Inotiv’s already established mass spectrometry-based bioanalytical offerings will enable clients to translate their clinical findings back into their discovery and preclinical pipelines and will be highly complementary to the GLP biomarker capabilities Inotiv is currently building at their Rockville, MD, facility,” said Daniel Liebler, Protypia’s Founder, President and Chief Executive Officer. “In addition, biopsy-based protein characterization has the potential to segment patient populations for inclusion in clinical trials studying specific mechanisms of action of novel therapeutics. Such segmentation of patients will enhance the probability of success for molecules entering late stage clinical development.”
According to the news release issued by the West Lafayette, IN-based Inotiv, the terms of the deal include about $9.5 million in cash, Inotiv common shares having a value of approximately $0.9 million, and $0.6 million in unsecured subordinated promissory notes.
An article in Fierce Biotech also noted that Inotiv is on an acquisition highway, purchasing Plato BioPharma and Gateway Pharmacology Laboratories in the last half of 2021.