WEST LAFAYETTE, Ind., March 17, 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 plans to expand the Company's service offerings to add cardiovascular safety pharmacology capabilities to the existing capabilities for respiratory and central nervous system safety pharmacology.
Safety pharmacology evaluations are critical for assessing the impact of drug candidates. By summer 2021, Inotiv expects to offer integrated safety pharmacology packages that include core battery tests for cardiovascular, respiratory, and central nervous system functions as standalone safety pharmacology packages or as part of a full investigational new drug / clinical trial application program. The Company previously relied on subcontractors for these cardiovascular assessments.
"Over the past year, we've made significant investments towards reducing our subcontracted and outsourced work," said Company President and Chief Executive Officer Robert Leasure, Jr. "This is a continuation of that strategy that we believe will allow us to improve speed and control quality of services while also enhancing margins."
"The initiative to add cardiovascular safety pharmacology began in April 2020, as we assembled our cardiovascular safety pharmacology team and conducted validation studies to fully support this new offering. This is yet another step we're taking to support our growth strategy and expand our current suite of services to provide the broad scope and right-sized solutions crucial to the success of our clients."