Bioanalytical Systems, Inc. Agrees to Acquire Clinical Innovations, Ltd.WEST LAFAYETTE West Lafayette, city (1990 pop. 25,907), Tippecanoe co., W Ind., a suburb of Lafayette, on the Wabash River; inc. 1924. A primarily residential city, it is the seat of Purdue Univ. , Ind.--(BW HealthWire)--May 27, 1998-- Bioanalytical Systems, Inc. (BAS BAS abbr. 1. Bachelor of Agricultural Science 2. Bachelor of Applied Science ) has agreed to acquire Clinical Innovations, Ltd., located in Warwickshire UK. BAS' initial public offering last November continues to fuel expansion made possible by recent shifts in outsourcing policy among pharmaceutical companies. BAS has served the pharmaceutical industry with contract services and instruments for 24 years. Acquisition of Clinical Innovations tracks with the BAS plan to expedite ex·pe·dite tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites 1. To speed up the progress of; accelerate. 2. growth of its BAS Analytics division. BAS Analytics has also recently occupied its new building in West Lafayette, Ind., increasing available lab space by 300%. Professional staff has doubled since the end of 1996 in this division. Significant addition of instruments, most manufactured by BAS, accompanied this move. Clinical Innovations was established in 1989 to provide a unique service for the analysis of biological samples to pharmaceutical developers. Both BAS Analytics and Clinical Innovations provide contract analytical services globally for the world's largest bioscience companies. Both perform assays on samples from clinical trials of new pharmaceutical candidates, a growing market. Much of this work is reported in filings with regulatory agencies regulatory agency Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. like the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. . Ronald Shoup, Ph.D., President of the BAS Analytics contract services division, commented, "Our customers will see several benefits quickly. More chemists and quality assurance staff, more facilities and know-how will enable quicker response and greater security for our clients. Although location of a service lab is less important than its results, our two sites are well placed to optimize contacts and work in customer cultures. BAS is now better able to service European accounts and multinational pharmaceutical companies with interests in both the US and UK." BAS provides research and development resources to the basic research community and many of the leading pharmaceutical, medical device, animal health and biotechnology companies Top 100 Biotechnology Companies The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies. in the world. Since 1974 BAS has earned a worldwide reputation as an innovator in biological and chemical analysis and instrumentation. Company technologies are used to help detect diseases early, identify their underlying biochemistry biochemistry, science concerned chiefly with the chemistry of biological processes; it attempts to utilize the tools and concepts of chemistry, particularly organic and physical chemistry, for elucidation of the living system. and develop therapeutic solutions. BAS operates worldwide with teams in Indiana, New Jersey, Pennsylvania, Kansas, the UK, Belgium and Japan. Learn more about BAS at www.bioanalytical.com. BAS is traded under the symbol BASI on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market. CONTACT: Bioanalytical Systems, Inc., West Lafayette Michael P. Silvon, 765/497-5831 |
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