Pacific Biometrics awarded $2.8 million research contracts

By Angela McDaniels

Seattle, Jan. 5 - Pacific Biometrics Inc. said it has been awarded multiple contracts by a multi-national pharmaceutical company to provide clinical data for a pivotal phase 3 cardiovascular program.

The company estimated that total revenue over the expected life of these contracts will be $2.8 million.

Pacific Biometrics will perform cholesterol, lipid and inflammatory marker testing on samples collected by the sponsor during phase 3 clinical development of a product for the prevention and treatment of dyslipidemia, atherosclerosis and coronary heart disease.

"The sponsor's endpoints of improving the cholesterol and inflammatory marker profile required a central laboratory that has expertise in biomarkers for both lipids and cardiovascular risk, and Pacific Biometrics is well positioned to deliver the highest quality results in both of these areas," chief executive officer Ron Helm said in a company news release.

"As this contract indicates, our expertise across multiple categories of biomarkers offers Pacific Biometrics a competitive advantage that we believe will enable us to pursue a growing number of opportunities going forward. Assuming the scope of the studies remains unchanged, the contract should have a meaningful impact on our fiscal 2006 and 2007 financial results."

Testing has already begun and is anticipated to be completed in 18 months.

Pacific Biometrics is based in Seattle and provides specialized central laboratory and contract research services to pharmaceutical and diagnostic manufacturers conducting human clinical trial research.

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