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WEST LAFAYETTE, Ind., November 13, 2017 (Newswire.com) - Bioanalytical Systems, Inc. (NASDAQ:BASI) (“BASi” or the “Company”) today announced the company has retained architects and consultants to design and complete a multi-phased plan for the expansion of its GLP toxicology facility in Mt. Vernon, Indiana, near Evansville. Steady growth and the increasing market demand for preclinical and non-clinical studies have made this multi-million dollar investment an organizational priority for the company.
“BASi’s growth has been built on a solid foundation of quality, on-time delivery and a loyal client base,” said Philip Downing, senior vice president of Preclinical Services at BASi. “We expect this momentum to continue well into 2018 and beyond. We are currently improving our environmental systems and infrastructure, and this further investment in expansion and upgrading facilities will allow us to better serve our clients while stabilizing current jobs and creating new workforce opportunities in the Evansville and surrounding markets.”
With a timeline for completion within the next 18-24 months, the company expects an increase in capacity of up to 30% with the planned expansion and renovation on the 52-acre campus. Backlog remains particularly strong, and this expansion is part of the company’s strategy to increase research capacity to meet that demand.
Our outlook is very positive as we consider evolving industry demands and how BASi is poised to meet them. These facility upgrades and the talented people supporting them will allow us to maintain our longstanding commitment to clients and their drug development success.
BASi founder and scientific adviser Peter Kissinger commented, “Our outlook is very positive as we consider evolving industry demands and how BASi is poised to meet them. These facility upgrades and the talented people supporting them will allow us to maintain our longstanding commitment to clients and their drug development success.”
About Bioanalytical Systems, Inc.
BASi is a pharmaceutical development company providing Preclinical, Toxicological and Bioanalytical contract research services and monitoring instruments to the world's leading drug development companies and medical research organizations. The Company’s laboratory, located near Evansville, Indiana, has been successfully providing clients with drug safety and toxicology testing services for over 40 years, including general toxicology services, carcinogenicity studies, DART, juvenile toxicology studies, bioanalytical supporting preclinical and clinical, and in vivo discovery. 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 information about BASi.
This release may contain 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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Source: Bioanalytical Systems, Inc.