WEST BRIDGEWATER, Mass., Feb. 25 /PRNewswire/ -- Boston Biomedica, Inc. (Nasdaq: BBII) announced today that its wholly-owned subsidiary, Biotech Research Laboratories (BTRL), has been awarded a contract from the National Cancer Institute (NCI) for the processing and storage of biological specimens to support cancer studies. This contract consists of first year funding at $915,803 plus four one-year options exercisable by the NCI, and has a total value of $4,878,284 if all options are exercised. Under this contract, BTRL will provide support services for the processing and preservation of biologic materials including blood products, tissues, and other biological specimens for long term storage, distribution of samples to collaborating investigators, maintenance of the existing specimen repository and management of information on the quality, quantity and location of samples in a computerized sample inventory. The current NCI repository houses over 1,600,000 specimens collected for a wide variety of NCI research studies.
"BTRL has provided research support under numerous government sponsored contracts and grants since 1975 and has been the incumbent on the NCI repository since 1982. This contract is a principal part of our commitment to providing high quality, dependable service to the Federal Government, especially the National Institutes of Health (NIH)," said Richard T. Schumacher, President of BBI.
BTRL has played a significant role in infectious disease research since 1975, particularly in the area of retrovirology. BTRL's expertise in providing research support services in cell biology, immunology and molecular biology is also currently applied to various other government contracts, including the discovery and characterization of potential anti-HIV drugs and support services to the National Institute of Allergy and Infectious Diseases' animal model vaccine program for AIDS.
"The requirements of this contract fit in well with our expertise in processing, storing and distributing well-characterized biological specimens to the research and clinical testing markets, and in providing quality services in support of government research activities," said Dr. Mark Manak, Sr. Vice President of R&D for BBI.
Boston Biomedica, Inc. is a worldwide manufacturer and provider of proprietary quality control products for use with in vitro diagnostic (IVD) test kits for the detection, analysis and monitoring of infectious diseases, including AIDS, Hepatitis and Lyme Disease. These products are used by clinical and research laboratories, blood banks, IVD manufacturers and regulatory agencies to help ensure the accuracy of infectious disease test results. The Company also manufactures IVD test kit components and provides specialty laboratory testing services.
This release may include forward-looking statements that may or may not
materialize. Since the exercise of all four one-year options is
discretionary, there is no assurance that any of the options to extend this
contract will be exercised by the NCI. Additional information or factors
could potentially affect the Company's financial results may be found in the
Company's filings with the Securities and Exchange Commission.
SOURCE Boston Biomedica, Inc.
CONTACT: Richard T. Schumacher, President and CEO, or Kevin W. Quinlan, Chief Financial Officer, of Boston Biomedica, Inc., 508-580-1900
