Inotiv Inc. (Nasdaq: NOTV) has secured an agreement to acquire HistoTox Labs Inc. in Boulder for $22 million.
The Indiana-based contract clinical researcher said in a statement that it intends to retain every employee currently at HistoTox upon the deal closing, which is expected to occur in the next 120 days.
“More than two-thirds of HistoTox’s client base consists of emerging biopharma companies focused on cell and gene therapy, dovetailing well with our growth strategy,” Inotiv CEO Robert Leasure Jr. said.
Neither company responded to a BizWest request for comment about how many employees work at the Boulder company.
HistoTox specifically focuses on how diseases manifest themselves in bodily tissues, and performs those analyses for clinical research companies that are preparing to launch trials for prospective drug candidates. The company generated $9.1 million in revenues in 2020 after hitting more than 30% in compounded annual growth, according to the deal announcement.
Inotiv was previously known as Bioanalytical Systems Inc. before shareholders approved a change to its name and stock ticker in March.
© 2021 BizWest Media LLC