WEST BRIDGEWATER, Mass., Oct. 25 /PRNewswire-FirstCall/--
Boston Biomedica, Inc. (Nasdaq: BBII) today announced that it has retained the
investment banking group of William Blair & Company (William Blair
) to
advise the Company in the evaluation of strategic opportunities aimed at
increasing shareholder value and increasing the capital needed for growth.
Richard T. Schumacher, Founder, CEO, and Chairman of BBI commented: We
are pleased to engage William Blair to help us identify and sort through the
options that may be available to increase shareholder value. We expect to
explore opportunities both in our core quality control business and in our
patented pressure cycling technology (PCT). We look forward to working with
William Blair to help develop and execute the best path forward.
William Blair & Company, L.L.C. is an independent investment firm offering investment banking, equity research, institutional and private brokerage, asset management and private capital to individual, institutional and issuing clients. Since 1935, the Chicago-based firm has been dedicated to helping its clients achieve their financial objectives by providing quality products and services. Located in Chicago, Hartford, London, San Francisco, Tokyo, Vaduz, and Zurich, William Blair & Company is entrusted with more than $20 billion in client assets. For more information, please visit www.williamblair.com
BBI provides products and services to the life sciences industry to evaluate, monitor, and ensure the quality of infectious disease test results, to improve the preparation of specimens for genomic/proteomic testing, and to safely store and retrieve rare and valuable biological specimens. We also manufacture biological reagents used in test kits and provide a broad range of routine and esoteric research services to governments and industry. BBI operates in three states, and conducts research in new applications for our patented Pressure Cycling Technology (PCT). In 2000, we launched Panacos Pharmaceuticals, and the Company maintains a significant passive investment in this novel antiviral drug development company.
Statements contained in this news release that state the Company's or
management's intentions, hopes, beliefs, expectations or predictions of the
future are forward-looking
statements. It is important to note that the
Company's actual results could differ materially from those projected in such
forward-looking statements. Factors that could cause actual results to differ
from those projected include the possibility that due to difficulties in the
implementation of its strategies, Boston Biomedica may not be successful in
commercializing the PCT Sample Preparation System, or such activities may take
longer, or may require more financial, technical, and marketing resources than
currently expected. If so, the Company may not have the resources necessary to
develop additional products in PCT, or to improve upon existing products.
Pressure Cycling Technology may also not be adaptable to any other
commercially viable applications, certain Pressure Cycling Technology
applications may not fall within the claims of the Company's eight issued US
patents, and individuals and groups utilizing such PCT procedures may not be
required to license such technology from BBI. The financial results for the
quarter and nine months ended September 30, 2002 are not necessarily
indicative of future results. Future revenue may not meet expectations due to
changes in customer needs and technological innovations. Additional
information concerning factors that could cause actual results to differ
materially from those in the forward- looking statements is contained from
time to time in the Company's SEC filings, including but not limited to the
Company's Annual Report on Form 10-K for the year ended December 31, 2001 and
the Company's Quarterly Reports on Form 10-Q for the quarters ended March 31st
and June 30th, 2002. Copies of these and other documents may be obtained by
contacting the Company or the SEC.
Visit us at our website http://www.bbii.com
Please email us at IR@bbii.com if you prefer to receive future announcements electronically.
Investor Contacts:
Richard T. Schumacher, CEO & Chairman
Kevin W. Quinlan, President & COO
Boston Biomedica, Inc.
(508) 580-1900 (T)
(508) 580-1110 (F)
Media Contact:
Jennifer Viera
Schneider & Associates
(617) 536-3300 (T)
jviera@schneiderpr.com
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SOURCE Boston Biomedica, Inc.
-0- 10/25/2002
/CONTACT: Investors, Richard T. Schumacher, CEO & Chairman or Kevin W. Quinlan, President & COO of Boston Biomedica, Inc., +1-508-580-1900; or Media, Jennifer Viera of Schneider & Associates, +1-617-536-3300, jviera@schneiderpr.com /
/Web site: http://www.bbii.com/
(BBII)
CO: Boston Biomedica, Inc.
ST: Massachusetts
IN: MTC BIO FIN
SU:
ES-EO
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4217 10/25/2002 13:01 EDT http://www.prnewswire.com