BASi (Bioanalytical Systems Inc.) (NASDAQ: BASI), is expanding its capabilities to meet demand for drug discovery and development services. The company has renovated space at its preclinical toxicology site in Evansville, Ind. and will relocate some research services to West Lafayette, creating several new positions. In addition, BASi also has added state-of-art research instrumentation at its bioanalytical labs at three sites.
BASi is using some proceeds of a $5.5 million public offering in May to make capital improvements and purchase laboratory equipment. The building renovations in Evansville are providing scientists with more flexibility with space for multiple studies.
As a result of the growing demand for discovery services, BASi is relocating its in vivo discovery services in 2012 to its facility in the Purdue Research Park of West Lafayette. Several new positions will be created to staff the laboratories. These studies will provide pharmaceutical companies the information they need to evaluate new compounds in the earliest stages of development.
General manager John Devine Jr., BS, DABT, has been promoted to vice president of non-clinical services to oversee expansion of the in vivo discovery services business."John has successfully developed the toxicology service at Evansville consistently growing the business year by year," said BASi president and CEO Anthony S. Chilton Ph.D. "John's focus on customers and his commitment to drive sales have contributed to the success of our contract research services." The ability to analyze thousands of samples each week has been enhanced with the purchase of several new triple quad mass spectrometry systems. Several AB SCIEX Triple Quad ™ LC/MS/MS have been installed at BASi bioanalytical labs in West Lafayette, Ind., McMinnville, Ore. and Warwickshire, UK. About BASi BASi is a drug discovery and development services company providing contract research services and instruments to the world's leading pharmaceutical companies and medical research organizations. The company, based in the Purdue Research Park of West Lafayette, focuses on developing innovative services and products that increase efficiency and reduce the cost of taking new and generic drugs to market. Visit www.BASInc.com for more about BASi. This release contains forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to changes in the market and demand for our products and services, the development marketing and sales of products and services, changes in technology, industry standards and regulatory standards, and various market and operating risks detailed in the company's filings with the Securities and Exchange Commission.
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