Inotiv to Acquire Plato BioPharma for ~$15.0M

Shots:

  • Inotiv to acquire Plato BioPharma for $15.0M that consist of $10.0M in cash, $2.0M in Inotiv’s common shares (57,587) based on the average closing price for 20 trading-day period ends on Sept 29, 2021, $3.0M in unsecured promissory notes
  • The acquisition will bolster PBI’s growing discovery operations in the Boulder, Colorado & expands its business to supports the growing demand for services
  • After closing the transaction, Inotiv expects to retain all of PBI’s 34 employees. Plato focusses on cardiovascular, renal, pulmonary, and hepatic therapeutic areas

Click here to read full press release/ article | Ref: Globe Newswire | Image: Inotiv

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