Advion BioServices to Open New Laboratory in Indianapolis to Provide Metabolism, ADME Screening, and Other Early-Stage Bioanalytical Services to Life Sciences Customers, including Lilly
INDIANAPOLIS and ITHACA, NY - March 1, 2011 - Advion BioServices, a subsidiary of Advion BioSciences, Inc. and a leading bioanalytical contract research organization, today announced plans to open a 22,000 square-foot drug discovery bioanalytical laboratory. The new laboratory will be located in the Purdue Research Park of Indianapolis' technology center at the Ameriplex Business Park near the Indianapolis International Airport. Advion will hire local talent to fill scientific and administrative positions at the facility. The laboratory is expected to be fully operational by the end of May 2011.
Headquartered in Ithaca, NY, Advion BioServices' primary focus is to provide high-quality, later stage bioanalytical drug development services as required by global regulatory agencies, including the U.S. Food and Drug Administration (FDA).
At the new Indianapolis facility, Advion will focus on the earlier stage, drug discovery bioanalytical services which evaluate how a potential new medicine is absorbed and metabolized in experimental models. Many of these services that will be performed at the new site are data generation activities required for the preparation of a molecule's entry into clinical testing.
Building on its existing partnership, Advion has also entered into a new, multi-year contract with Lilly to provide a variety of these services that will be conducted at the new facility. As part of the agreement, Lilly will transition its drug discovery bioanalytical capability to Advion. All Lilly employees impacted by this decision will have the opportunity to join Advion. Financial terms of the transaction are not being disclosed.
"Our company's consistent growth and success has been the direct result of close customer partnerships," said David B. Patteson, President and CEO of Advion BioSciences, Inc. "The establishment of this laboratory in Indianapolis further strengthens our relationship with Lilly as a key partner in bioanalytical services while positioning Advion to be one of the largest and most-respected bioanalytical service providers in North America."
Advion's expansion into Indianapolis was made possible in part by assistance provided through the Indiana Economic Development Corporation (IEDC). IEDC offers a centralized resource for organizations looking to establish a presence in Indiana. Support from IEDC has streamlined many of the processes for Advion in establishing this new Indianapolis facility. Additional assistance was provided by BioCrossroads, Indiana's initiative for investment, development and advancement of the state's signature life sciences strengths.
"Drug discovery bioanalytical services in Indianapolis are a strategic complement to the regulated drug development bioanalytical services in our Ithaca, New York, and Manassas, Virginia laboratories. Advion has always upheld the highest standards of scientific rigor and looks forward to establishing a center-of-excellence for discovery bioanalytical services in Indianapolis," said Tom Kurz, President of Advion BioServices, Inc. "In addition to providing these services to Lilly, we are very pleased with the prospect of offering these services to our other clients, and see this as a significant opportunity to further grow this business and expand the size of our Indianapolis operation in the future."
About Advion BioServices, Inc.
Advion is a scientific leader in bioanalytical LC/MS services, in vitro assays, and immunoassay services. Advion offers a range of GLP-compliant and discovery bioanalytical services including LC/MS/MS for the determination of small molecule drugs, macromolecule therapies, and biomarkers, immunoassay services, ADME screening, cytochrome P450 inhibition and induction study support, metabolism profiling, metabolite identification, sample management, and sample storage. The company is the laboratory of choice for pharmaceutical and biotechnology companies in pursuit of scientific excellence.
Additional information about Advion is available at www.advion.com .
Manager of Corporate Marketing Communications
Advion BioSciences, Inc.
607.266.0665 ext. 331