Inotiv Acquires Orient BioResource Center
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West Lafayette-based Inotiv Inc. (Nasdaq: NOTV) has acquired Orient BioResource Center Inc. in Texas. The deal for the primate quarantine and holding facility is valued at more than $51 million in cash and stock.
Inotiv Chief Executive Officer Robert Leasure, Jr. says the acquisition will provide “increased access to critical research models and expanded facilities for the development of safe and effective medicines.”
Inotiv says OBRC’s Texas operations span 500 acres and consist of primate holding, veterinary care, diagnostic and maintenance facilities, and earned revenue of $23 million in fiscal year 2021.
“Inotiv acquired our primate facility in Alice, Texas, in November of 2021, and that facility has been a leader in primate welfare and supply for decades,” said Jim Harkness, chief operating officer for research models and services at Inotiv. “Our clients have consistently asked us to build the scale and services necessary to meet their needs. We believe the acquisition of OBRC’s Alice, Texas, facility, and its proximity to our existing facility, will accelerate growth, provide scale, and ensure that client needs are met with the highest level of animal welfare.”
Inotiv is a contract research organization specializing in nonclinical and analytical drug discovery. Inotiv acquired the company from Orient Bio, Inc., a preclinical contract research organization and animal model supplier in South Korea.