Company's Quality Control Panel Expected To Facilitate the Development of Blood Donor and Laboratory Tests for the Mosquito-borne Virus
WEST BRIDGEWATER, Mass., Dec. 3 /PRNewswire-FirstCall/ -- Boston Biomedica, Inc. (Nasdaq: BBII) today announced that it has released for sale and has begun to ship its first West Nile Virus (WNV) product. The Company also confirmed that it has already received firm orders to purchase from researchers, test kit manufacturers and blood organizations for 20% of the product initially manufactured. Because of the difficulties involved in the preparation of this and subsequent WNV products -- such as the need for special permits, coordination required with scientific and business colleagues throughout the country, special handling, and the need for specialized technical capabilities and equipment -- the Company indicated in its release notice to prospective customers that it can not guarantee the long-term availability of this product to any group.
Although birds are the primary hosts of West Nile Virus, the virus can also be transmitted to humans and other animals (such as horses, cats, and squirrels) through mosquito bites. Most humans infected with WNV exhibit mild flu-like symptoms or no symptoms at all. However, in some cases, infection can cause life-threatening encephalitis or meningitis. Outbreaks of WNV in humans have been observed in Europe, Russia and the Middle East for years, with the first U.S. outbreak occurring in 1999. The disease has spread rapidly in the U.S. since then, and thus far in 2002 more than 3,700 cases of West Nile Virus infection have been reported by state health departments, resulting in over 200 deaths.
Dr. Mark M. Manak, Senior Vice President for Research and Development at Boston Biomedica commented: "Strong evidence generated over the past few months has confirmed that WNV infection can be transmitted through blood transfusion and organ transplantation, although the magnitude of the risk of contracting WNV infection through these means is still under investigation. In the meantime, the Food and Drug Administration (FDA) has issued an appeal to blood organizations and the in vitro diagnostics industry for the rapid development of donor screening tests for WNV. The use of quality control products during each stage of the R&D process is essential in determining the accuracy and reliability of the tests being developed. We are pleased to announce that we now have available the first of several much needed and much requested quality control products."
Richard T. Schumacher, CEO, Chairman, and Founder of Boston Biomedica, said: "In just three short months, our staff was able to develop a plan with colleagues in public health, blood banking, industry, government, and academia that resulted in the development and release of our first WNV product. This is remarkable and is a true testament to the focus, drive, and capabilities of our employees, and to the working relationships that we enjoy with so many others throughout the country. And what makes this even more satisfying is the knowledge that our product has the potential to play a significant role in the development of tests that may be used as early as next year to add an additional level of safety to the nation's blood supply - already the safest in the world."
Boston Biomedica, Inc. provides products and services to the diagnostics and life sciences industries 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 Boston Biomedica may not be successful in commercializing its first West Nile Virus QC product, that the Company may not be successful in developing additional WNV products, or that these products may not be needed by developers or users of WNV tests. 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 three months ended March 31, June 30, and September 30, 2002. Copies of these documents may be obtained by contacting the Company or the SEC.
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SOURCE Boston Biomedica, Inc.
