Market Overview

The Smithers Avanza Toxicology Services Business Unit Acquired by Bioanalytical Systems, Inc. "BASi"

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The Smithers Avanza Toxicology Services business unit in Gaithersburg,
MD, a boutique contract research organization (CRO) specializing in
general toxicology, vaccine safety and developmental and reproductive
toxicology (DART), announced today that it will be acquired by
Bioanalytical Systems, Inc. (NASDAQ:BASI) ("BASi" or the "Company"). The
Smithers Avanza Bioanalytical Services business is not included in this
sale.

"Selling a business unit is never an easy decision, but we recognized
that the scope and scale of BASi coupled with our team's scientific
expertise would benefit our clients and team tremendously. Operating as
a single site toxicology business presented operational efficiency
challenges that could only be overcome with the added sites and in-house
capabilities of BASi," said Michael Hochschwender, President and Chief
Executive Officer, The Smithers Group, Inc. "We are very proud of the
accomplishments and reputation of the Gaithersburg Toxicology Services
team. We are thankful to our loyal clients who supported this business
and are confident they will enjoy a seamless transition to BASi."

Robert Leasure, Jr., BASi's President and Chief Executive Officer,
commented, "The acquisition of the Smithers Avanza Toxicology Services
business unit solidly supports BASi's vision of strategic growth. With
strong demand for our services, we needed to add space and talent. The
team that is joining us from Smithers in Gaithersburg will allow us to
provide more resources to our clients, while remaining small enough to
be flexible and responsive. Not only will the Gaithersburg site provide
increased capacity for routine safety assessment, we also gain
significant expertise in developmental and reproductive toxicology."

The Smithers Group is an independent global leader in delivering trusted
solutions by integrating science, technology, and business expertise.
Our companies are innovative in adding value throughout the life cycle
of our clients' products, utilizing testing, consulting, information,
and compliance services. We are committed to delivering accurate data,
on time, with high-touch.

Each of our companies specializes in technology-based services, and
focuses on defined, manageable markets. Their niche market strategy
fosters stability and longevity and enables them to leverage their
technical and brand equity to compete effectively on a global basis.

Important: This divestiture does not include the large molecule
bioanalytical services division known as Smithers Avanza Bioanalytical
Services, LLC.

For more information about the Smithers portfolio of services, visit https://www.smithers.com/.

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