Alliance Between Bioanalytical Systems, Inc. and Shanghai Institute of Materia Medica.

WEST LAFAYETTE, Ind.--(BW HealthWire)--Jan. 7, 1999-- Bioanalytical Systems, Inc. (Nasdaq:BASI) and the Shanghai Institute of Materia Medica, Chinese Academy of Sciences (SIMM) jointly announced the creation of a strategic partnership today. The Master Strategic Agreement was completed on December 3 by Professor Kai-Xian Chen, director of SIMM, and Peter T. Kissinger, president and CEO of Bioanalytical Systems (BAS).

BAS and SIMM agreed to develop targeted joint research projects in neuroscience and bioanalytical chemistry and to develop joint grants with funding agencies worldwide. Under the Agreement SIMM will also assist BAS in developing a market in China for BAS instruments and contract services, and BAS will help SIMM develop alliances with major U.S. pharmaceutical companies.

The Chinese government has been reassessing growth strategies and encouraging regulatory change. Recent industry discussions in China on the future of pharmaceutical research, development and manufacturing show a marked policy shift toward greater efficiency, new drugs, new technologies and new ways to improve healthcare among the Chinese people. BAS and SIMM expect to be a part of this healthcare revolution.

"SIMM is one of the most prestigious Chinese institutes for new drug development, including traditional medicine," said Kissinger. "The intellectual and physical resources at SIMM will continue to play a key part in the evolution of healthcare in China."

"BAS has had a presence in China for more than a decade. This new partnership joins two smart, strong organizations when both can see huge potential advances for BAS instruments and contract services in China and for SIMM among pharmaceutical companies in the U.S."

BAS serves pharmaceutical and medical device industries, clinical laboratories, and the basic research community with a wide variety of contract research services, research equipment, and diagnostic kits. Visit http://www.bioanalytical.com to learn more about BAS.