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<SEC-DOCUMENT>0001144204-10-004747.txt : 20100201
<SEC-HEADER>0001144204-10-004747.hdr.sgml : 20100201
<ACCEPTANCE-DATETIME>20100201164942
ACCESSION NUMBER:		0001144204-10-004747
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100126
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100201
DATE AS OF CHANGE:		20100201

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BIOANALYTICAL SYSTEMS INC
		CENTRAL INDEX KEY:			0000720154
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731]
		IRS NUMBER:				351345024
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23357
		FILM NUMBER:		10563950

	BUSINESS ADDRESS:	
		STREET 1:		2701 KENT AVE
		CITY:			WEST LAFAYETT
		STATE:			IN
		ZIP:			47906-1382
		BUSINESS PHONE:		3174634527

	MAIL ADDRESS:	
		STREET 1:		2701 KENT AVENUE
		CITY:			WEST LAFAYETTE
		STATE:			IN
		ZIP:			47906-1382
</SEC-HEADER>
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8-K</font></div>
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to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
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Report (Date of earliest event reported): January 26, 2010</font></div>
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appropriate box below if the Form 8-K filing is intended to simultaneously
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5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
January 26, 2010, the Board of Directors of Bioanalytical Systems, Inc. (the
"Company") approved certain changes to the Company's Board of Directors and
senior management.&#160;&#160;Richard M. Shepperd, the Company's President and
Chief Executive Officer, retired from the office of President and advised the
Board of Directors that he intends to retire from his position as Chief
Executive Officer and as a director of the Company effective February 12, 2010.
In connection with Mr. Shepperd&#8217;s retirement from the Company, the Board of
Directors approved a retirement payment to Mr. Shepperd of $120,000, payable in
twelve equal monthly installments commencing March 1, 2010.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
January 26, 2010, the Board of Directors elected Anthony S. Chilton, Ph.D., 53,
currently the Company's Chief Operating Officer, Scientific Services, to also
serve as the Interim President of the Company.&#160;&#160;Dr. Chilton has over
30 years of experience as a scientist and executive in leading life sciences
companies in England, Canada and the United States.&#160;&#160;He joined BASi in
December 2008.&#160;&#160;Prior to joining BASi, Dr. Chilton was in charge of
early development programs at Atherogenics, Inc. of Alpharetta, Georgia and
provided consulting and advisory services to various pharmaceutical
companies.&#160;&#160;Prior to that, he was Vice President of the
Biopharmaceutical Development Division of Cardinal Health Inc., which he joined
through a predecessor company in 1998 that was acquired by Cardinal in
2002.&#160;&#160;Previously, Dr. Chilton spent three years with life sciences
companies in Canada, prior to which he held positions in his native United
Kingdom.&#160;&#160;Dr. Chilton received his bachelor&#8217;s degree in Chemistry from
the University of East Anglia in 1981, and his Ph.D. in Analytical Chemistry
from the University of Hertfordshire in 1993.&#160;&#160;Dr. Chilton is expected
to assume the additional duties of Chief Executive Officer upon Mr. Shepperd's
departure, pending the results of the executive search.</font></div>
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January 26, 2010, the Company's Board of Directors elected A. Charlene Sullivan,
Ph.D., as a Class I director of the Company, replacing William E. Baitinger who
retired on January 13, 2010. Dr. Sullivan was suggested for election to the
Board of Directors by Peter T. Kissinger and Candice B. Kissinger in a letter to
the Board of Directors dated December 18, 2009.&#160;&#160;There is no
arrangement or understanding between Dr. Sullivan and any other persons pursuant
to which Dr. Sullivan was selected as a director.&#160;&#160;The Board of
Directors has not determined whether Dr. Sullivan will be named to any Board
committees.</font></div>
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February 1, 2010, the Company and Dr. Chilton entered into an Amended and
Restated Employment Agreement (the "Employment Agreement"). Under the amended
Employment Agreement, the Company extended the term of Dr. Chilton's employment
until January 31, 2013. The amended Employment Agreement provides that, during
any period Dr. Chilton serves as Interim President of the Company, (a) his base
salary will be increased to $19,105 per month, and (b) he will receive a cash
bonus equal to two percent (2%) of the consolidated earnings before interest
expense, income tax expense, depreciation expense and amortization expense of
the Company for that period ("EBITDA Bonus"). The Company also granted Dr.
Chilton options to purchase 25,000 Company common shares at a price of $0.78
(the closing price of the Company's common shares on February 1, 2010) pursuant
to the Company's Employee Stock Option Plan and an Option Agreement dated
February 1, 2010. These options will vest in three equal annual installments on
January 31, 2011, 2012 and 2013. In addition to reimbursement of business
expenses in accordance with the Company&#8217;s standard reimbursement policies, Dr.
Chilton will be entitled to reimbursement for reasonable living expenses in the
Lafayette, Indiana area during the term of his employment, and reasonable travel
expenses for travel to and from his residence in the Alpharetta, Georgia. The
Company has also agreed to provide Dr. Chilton a $600 monthly car allowance and
certain other benefits consistent with other executive level
employees.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Employment Agreement also provides that if Dr. Chilton becomes the Company's
President and Chief Executive Officer, then (i) his base salary will increase to
$21,188.33 per month, (ii) he will receive a grant of options to purchase an
additional 125,000 common shares of the Company on the date he is elected to
those positions and grants of additional options to purchase 25,000 common
shares on the first and second anniversaries of the date of the Employment
Agreement, (iii) he will continue to earn the EBITDA Bonus, and (iv) he will be
elected to the Company's Board of Directors. All of the options will be granted
at an exercise price that is equal to the fair market value of the common shares
on the date of grant. The options granted on the date of Dr. Chilton's election
would vest in three equal installments on January 31, 2011, 2012 and 2013. The
options granted in 2011 would vest in two equal installments on January 31, 2012
and 2013 and the options granted in 2012 would vest on January 31,
2013.</font></div>
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</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">According
to the Employment Agreement, if Dr. Chilton's employment is terminated without
Cause (as defined in the Employment Agreement) or he resigns for "Good Reason"
(as defined in the Employment Agreement), then the Company shall (a) pay Dr.
Chilton (i) his current salary through the termination date or resignation date;
(ii) all vacation accrued as of date of resignation or termination, and (iii)
all bonuses earned but not paid as of the date of termination or resignation;
and (b) pay Dr. Chilton as compensation for loss of office twelve (12) months
base salary at the then current salary, provided that such payments shall cease
if Dr. Chilton becomes employed during such period.&#160;&#160;If Dr. Chilton is
terminated for Cause or resigns without Good Reason, the Company will pay Dr.
Chilton (x) his earned but unpaid then-current base salary through the date of
termination or resignation (y) all vacation accrued as of the date of
termination resignation and (z) all bonuses earned but not paid as of the date
of termination or resignation. </font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In the
event Dr. Chilton's employment is involuntarily terminated within one year
following a "Change in Control" of the Company, as defined in the Employment
Agreement, Dr. Chilton would be entitled to receive his monthly base salary for
the 12 months prior to termination payable for at least 2 years.&#160;&#160;Dr.
Chilton would also be eligible for any special bonus program instituted by the
Company during the transition period leading up to or following the Change in
Control.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
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            </td>
            <td align="left">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Financial Statements and
      Exhibits.</font></font></div>
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                    <div style="MARGIN-LEFT: 18pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(d)</font></div>
                  </td>
                  <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="top" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exhibits</font></td>
                </tr>
                <tr>
                  <td align="left" valign="top" width="10%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="top" width="88%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                </tr>
                <tr>
                  <td align="left" valign="top" width="10%" style="PADDING-LEFT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">99.1</font></div>
                  </td>
                  <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="top" width="88%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Bioanalytical
      Systems, Inc. press release, issued January 27,
  2010.</font></div>
                  </td>
                </tr>
            </table>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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</font></div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
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      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURES</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
      <div>
        <div align="left">
          <div align="left">
            <table cellpadding="0" cellspacing="0" width="100%">
                <tr>
                  <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td align="left" colspan="2" valign="top" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">BIOANALYTICAL
      SYSTEMS, INC.</font></div>
                  </td>
                </tr>
                <tr>
                  <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="top" width="46%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                </tr>
                <tr>
                  <td align="left" valign="top" width="50%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Date:
      February 1, 2010</font></div>
                  </td>
                  <td align="left" valign="top" width="4%" style="PADDING-BOTTOM: 2px">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:</font></div>
                  </td>
                  <td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 2px solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/
      <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Richard
      M. Shepperd</font></font></div>
                  </td>
                </tr>
                <tr>
                  <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td align="left" valign="top" width="46%" style="PADDING-LEFT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">      </font>
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Richard
      M. Shepperd</font></div>
                    </div>
                  </td>
                </tr>
                <tr>
                  <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td align="left" valign="top" width="46%" style="PADDING-LEFT: 0pt">
                    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief&#160;Executive&#160;Officer</font></div>
                  </td>
                </tr>
            </table>
          </div>
        </div>
      </div>
    </div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
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Index</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div align="left">
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          <table cellpadding="0" cellspacing="0" width="100%">
              <tr>
                <td align="left" valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
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                </td>
                <td align="left" valign="top" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="86%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline">Description</font></font></div>
                </td>
              </tr>
              <tr>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td valign="top" width="86%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              </tr>
              <tr>
                <td align="left" valign="top" width="12%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">99.1</font></div>
                </td>
                <td align="left" valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                <td align="left" valign="top" width="86%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Bioanalytical
      Systems, Inc. press release, issued January 27,
  2010.</font></div>
                </td>
              </tr>
          </table>
        </div>
      </div>
    </div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v172868_ex99-1.htm
<TEXT>
<html>
  <head>
    <title></title>
    <!--Licensed to: trackball-->
    <!--Document Created using EDGARizer 4.0.6.4-->
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">FOR MORE
INFORMATION:</font>&#160;&#160;Michael R. Cox</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Phone&#160;&#160;&#160;765.497.5829</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">mcox@BASInc.com</font></font><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BIOANALYTICAL
SYSTEMS, INC. ANNOUNCES MANAGEMENT CHANGES, ELECTION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OF
NEW DIRECTOR</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>West Lafayette, Indiana, January 27,
2010 &#8211; Bioanalytical Systems, Inc. (NASDAQ: BASI) today announced several
changes to its Board of Directors and senior management.&#160;&#160;Richard M.
Shepperd, President and Chief Executive Officer of BASi, retired from the office
of President of the Company and has advised the Board of Directors that he
intends to retire from his position as Chief Executive Officer and as a director
of BASi on February 12, 2010.&#160;&#160;The Board intends to conduct a national
search for a new Chief Executive Officer.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company also announced today that the Board of Directors has elected Anthony S.
Chilton, Ph.D., 53, BASi's Chief Operating Officer, Scientific Services, as the
interim President of BASi.&#160;&#160;Dr. Chilton has over 30 years of
experience as a scientist and executive in leading life sciences companies in
England, Canada and the United States.&#160;&#160;He joined BASi in December
2008.&#160;&#160;Prior to joining BASi, Dr. Chilton was in charge of early
development programs at Atherogenics, Inc. of Alpharetta, Georgia and provided
consulting and advisory services to various pharmaceutical
companies.&#160;&#160;Prior to that, he was Vice President of the
Biopharmaceutical Development Division of Cardinal Health Inc., which he joined
through a predecessor company in 1998 that was acquired by Cardinal in
2002.&#160;&#160;Previously, Dr. Chilton spent three years with life sciences
companies in Canada, prior to which he held positions in his native United
Kingdom.&#160;&#160;Dr. Chilton received his bachelor&#8217;s degree in Chemistry from
the University of East Anglia in 1981, and his Ph.D. in Analytical Chemistry
from the University of Hertfordshire in 1993.&#160;&#160;Dr. Chilton is expected
to assume the additional duties of Chief Executive Officer upon Mr. Shepperd's
departure, pending the results of the executive search.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">"The
Board would like to express its sincere appreciation to Mr. Shepperd for his
strong leadership at a critical time in the Company's history," said David W.
Crabb, M.D. the Chair of BASi's Nominating Committee.&#160;&#160;"We are
confident that Dr. Chilton has the background, knowledge and industry experience
to effectively lead the Company into the future."</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company also announced that A. Charlene Sullivan, Ph.D., has been elected as a
director of the Company effective January 26, 2010, replacing William E.
Baitinger who retired on January 13, 2010.&#160;&#160;"We are pleased to welcome
Dr. Sullivan to the Board and look forward to working with her," Dr. Crabb
said.&#160;&#160;The Board of Directors has not determined whether Dr. Sullivan
will be named to any Board committees.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dr.
Sullivan has served as an Associate Professor of Management at the School of
Management and the Krannert Graduate School of Management at Purdue University
since 1984.&#160;&#160;In addition, Dr. Sullivan has served as a financial
analyst for the Indiana Gaming Commission since 1995 and as a risk management
consultant for Edgar Dunn &amp; Company (a strategy and consulting firm) since
1994.&#160;&#160;She currently serves on the board of directors of the Greater
Lafayette Community Foundation and on the Asset-Liability Committee for the
Purdue Employees Federal Credit Union.&#160;&#160;Dr. Sullivan earned a B.S.
degree in Home Economics from the University of Kentucky and a M.S. and Ph.D. in
Management from Purdue University.</font><br></div><br>
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        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
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</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">About
Bioanalytical Systems, Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BASi is a
pharmaceutical development company providing contract research services and
monitoring instruments to the world&#8217;s leading drug development companies and
medical research organizations.&#160;&#160;The company focuses on developing
innovative services and products that increase efficiency and reduce the cost of
taking a new drug to market. Visit <font style="DISPLAY: inline; TEXT-DECORATION: underline">www.BASInc.com</font> for
more information about BASi.</font></div>
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