By Business Wire, October 16, 2013, 11:28:00 AM EDT
WEST LAFAYETTE, Ind.--(BUSINESS WIRE)--
BASi (Bioanalytical Systems, Inc.) (NASDAQ:BASI) announced today
that it has entered into a Preferred Provider Agreement (PPA) with G1
Therapeutics, a privately held company that develops small molecule
therapeutics to protect bone marrow from damage due to chemotherapy or
radiation. Under the agreement, BASi will become the preferred provider
of preclinical services, including toxicology, bioanalytical and
analytical testing, to support G1's drug development programs.
BASi President & CEO and CFO Jacqueline M. Lemke said, "With our common
focus on innovation and scientific excellence, this PPA is a natural
arrangement for both of our companies. We are proud that G1 recognizes
the ability of BASi's research team to conduct studies which generate
quality and timely data, a critical part of the drug development
"BASi has been a valuable partner as we advance our lead clinical
candidate toward IND filing and clinical development," said Jay Strum,
Ph.D., Chief Scientific Officer and President, G1 Therapeutics. "We look
forward to working with BASi to complete a number of pre-clinical
activities necessary for the IND filing in 2014."
About G1 Therapeutics.
G1 Therapeutics, Inc. is a privately held pharmaceutical company based
in Chapel Hill, NC, that focuses on the discovery and development of
novel small molecules for use in cancer therapy and biodefense
applications. These molecules are being developed for targeting specific
proteins associated with cell proliferation and growth. Such therapies
may be useful to protect the bone marrow and other organs, including the
kidney and lung from toxic insult. In October 2013, the company raised
$12.5 million in a Series A financing led by MedImmune Venture Partners
and Hatteras Venture Partners that will enable it to advance its lead
clinical candidate into clinical trials for the potential treatment of
chemotherapy induced myelosuppression.
About Bioanalytical Systems, Inc.
BASi is a pharmaceutical development company providing contract research
services and monitoring instruments to the world's leading drug
development companies and medical research organizations. 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 about BASi.
This release contains 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.