BASi (Bioanalytical Systems, Inc.) (NASDAQ: BASI) announced today that it has entered into a Preferred Provider Agreement (PPA) with G1 Therapeutics, a privately held company that develops small molecule therapeutics to protect bone marrow from damage due to chemotherapy or radiation. Under the agreement, BASi will become the preferred provider of preclinical services, including toxicology, bioanalytical and analytical testing, to support G1’s drug development programs.
BASi President & CEO and CFO Jacqueline M. Lemke said, "With our common focus on innovation and scientific excellence, this PPA is a natural arrangement for both of our companies. We are proud that G1 recognizes the ability of BASi’s research team to conduct studies which generate quality and timely data, a critical part of the drug development process."
"BASi has been a valuable partner as we advance our lead clinical candidate toward IND filing and clinical development," said Jay Strum, Ph.D., Chief Scientific Officer and President, G1 Therapeutics. "We look forward to working with BASi to complete a number of pre-clinical activities necessary for the IND filing in 2014."
About G1 Therapeutics.G1 Therapeutics, Inc. is a privately held pharmaceutical company based in Chapel Hill, NC, that focuses on the discovery and development of novel small molecules for use in cancer therapy and biodefense applications. These molecules are being developed for targeting specific proteins associated with cell proliferation and growth. Such therapies may be useful to protect the bone marrow and other organs, including the kidney and lung from toxic insult. In October 2013, the company raised $12.5 million in a Series A financing led by MedImmune Venture Partners and Hatteras Venture Partners that will enable it to advance its lead clinical candidate into clinical trials for the potential treatment of chemotherapy induced myelosuppression. About Bioanalytical Systems, Inc. BASi is a pharmaceutical development company providing contract research services and monitoring instruments to the world's leading drug development companies and medical research organizations. The company focuses on developing innovative services and products that increase efficiency and reduce the cost of taking a new drug 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.