SEATTLE, WA and RESEARCH TRIANGLE PARK, N.C. - November 19, 2004 - Pacific Biometrics, Inc. (OTCBB: PBME), a provider of specialty central laboratory services, and Quintiles Transnational Corp., the world's leading provider of pharmaceutical services, today announced the signing of an agreement to co-promote and co-market central laboratory services.
Quintiles' global provider of central laboratory services, Quintiles Laboratories Ltd., will promote Pacific Biometrics as its preferred partner for the provision of specialty and efficacy tests in its areas of expertise, namely lipids and cardiovascular risk, diabetes and metabolic syndrome, and osteoporosis and arthritis. Similarly, Pacific Biometrics will promote Quintiles Laboratories as its preferred partner for the provision of global central laboratory services. The two companies are currently integrating procedures for specimen management, data management, and project management, leading to seamless, one-stop shopping for their clients. Seamless process integration will assure efficient testing and results reporting in a single integrated database.
Ron Helm, Chief Executive Officer of Pacific Biometrics, said, "We believe that this partnership agreement is a landmark in central lab services and represents the best of both worlds for our pharmaceutical clients: best-in-class specialty testing combined with industry-leading global central laboratory services. PBI and Quintiles Labs share a common vision for enhancing central lab services by this strategic alliance, allowing each company to focus on what it does best: specialty testing by PBI and global central laboratory services by Quintiles Labs."
"Quintiles Laboratories is truly excited about the partnership with PBI," said Thomas Wollman, Quintiles Vice President of Global Central Laboratory. "We have seen a real increase in the complexity level of testing required by our customers. The relationship allows us to offer a further depth of technical expertise alongside our existing broad global services."
About Pacific Biometrics, Inc. (PBI)
Established in 1989, PBI provides specialized central laboratory and contract research services to support pharmaceutical and diagnostic manufacturers conducting human clinical trial research. The company provides expert services in the areas of cardiovascular disease, osteoporosis, diabetes and nutrition. The PBI laboratory is accredited by the College of American Pathologists and through its non-profit affiliate Pacific Biometrics Research Foundation is one of only three U.S.-based laboratories approved and accredited by the Centers for Disease Control (CDC) as a Cholesterol Reference Laboratory. PBI's clients include many of the world's largest pharmaceutical, biotech and diagnostic companies.
Pacific Biometrics also owns several patented and patent-pending technologies, including an advanced, proprietary, isothermal DNA amplification technology, and a gene-based cell viability technology to distinguish live from dead cells in a broad range of diagnostic applications.
For more information about Pacific Biometrics, visit the company's Web site at www.pacbio.com or contact Ronald Helm, Chairman / CEO at (206) 298-0068.
About Quintiles Laboratories Limited
Quintiles Laboratories is a global Central Laboratory committed to providing fully integrated clinical laboratory services that support all phases of both global and regional clinical trials, while retaining a strong emphasis on patient care.
Quintiles Labs offers one of the broadest areas of geographic coverage in the industry with owned facilities in the U.S., Europe, South Africa and Singapore, operational offices in South America and China and sub-contract facilities in China, Brazil, Argentina and Australia. Dedicated global and regional project management works closely with the sponsor clinical team to assure smooth study set-up, implementation and close-out resulting in the on-time transfer of an accurate, verifiable and integrated database.
Quintiles helps improve healthcare worldwide by providing a broad range of professional services, information and partnering solutions to the pharmaceutical, biotechnology and healthcare industries. Headquartered near Research Triangle Park, North Carolina, Quintiles has offices in 50 countries and is the world's leading pharmaceutical services organization. For more information visit the company's Web site at www.quintiles.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release includes forward-looking statements including to but not limited to our strategic planning and business development plans, our future growth, and the viability and acceptance of our products and services in the market. These forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those described in the forward-looking statements. These risks include, but are not limited to, our ability to bid on and win laboratory services contracts, the success of our marketing and business development efforts, competition in the industry, and our ability to manage growth, as well as the risks and other factors set forth in our periodic filings with the U.S. Securities and Exchange Commission.