Inotiv, inc. announces expansion of in vivo pharmacology offering with acquisition of plato biopharma, inc.

West lafayette, ind., oct. 04, 2021 (globe newswire) -- inotiv, inc. (nasdaq:notv) (the “company”, “we”, “our” or “inotiv”), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services, today announced the acquisition of plato biopharma, inc. (“pbi”), a colorado-based, in vivo pharmacology research and drug discovery company specializing in cardiovascular, renal, pulmonary and hepatic therapeutic areas. transaction consideration totaled $15.0 million, consisting of: $10.0 million in cash; 57,587 inotiv common shares having a value of $2.0 million based on the weighted average closing price of company shares as reported by nasdaq for the twenty trading-day period ending on september 29, 2021; and $3.0 million in unsecured promissory notes.
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