WEST BRIDGEWATER, Mass., Jan. 5 /PRNewswire/ -- Boston Biomedica Inc. (Nasdaq: BBII) announced today the appointment of William Prather, MD to serve as Senior Vice President for Business Development. In this newly created position, Dr. Prather will be responsible for investor relations, due diligence on potential acquisitions, medical and technical strategic advice and planning, and other business development activities.
Dr. Prather comes to Boston Biomedica with over seven years of experience as a healthcare analyst for both institutional investment advisors and Wall Street investment banking firms. Dr. Prather earned his BS (Pharmacy) and his MD at the University of Missouri - Kansas City, and completed a Clinical Research Geriatric Fellowship at Harvard Medical School. Dr. Prather practiced clinical medicine for approximately ten years prior to his healthcare analytical experience with the investment community.
"In my role as a healthcare industry research analyst, I have evaluated and followed numerous emerging technology companies," Dr. Prather commented. "After reviewing Boston Biomedica's core businesses, their research and development effort in pressure cycling technology (PCT), and their drug discovery initiative, I believe that Boston Biomedica has outstanding potential for continued rapid growth. I am especially pleased to have the opportunity to collaborate with Boston Biomedica's research scientists, management team, and existing and future investors in realizing this potential."
"We believe that the addition of Dr. Prather to our senior management group will dramatically enhance our ability to tell the BBI story to the investment community," said Richard T. Schumacher, President and CEO of Boston Biomedica Inc. "It's a story of steady growth in our core diagnostic businesses fueled by innovative products and services, together with the even greater growth potential of our PCT and drug discovery R&D programs."
Boston Biomedica Inc. is a worldwide manufacturer and provider of proprietary quality control products for use with IVD test kits for the detection, analysis and monitoring of infectious diseases, including AIDS, Hepatitis, Lyme Disease and ToRCH. The Company's products are used by clinical and research laboratories, blood banks, and IVD manufacturers to help ensure the accuracy of infectious disease test results through the routine monitoring of test performance. The Company also manufactures diagnostic test kit components and laboratory instrumentation, and provides specialty laboratory testing and contract research services.
This release may include forward-looking statements that may or may not
materialize. There can be no assurance that Boston Biomedica will continue to
grow as expected. There can be no assurance that the Company's core
businesses will continue to grow; that additional anti-HIV compounds will be
discovered; that any discovered compounds will be developed for commercial
use; that the pressure cycling technology being developed will lead to any
commercially viable applications; or that the Company will successfully
complete any further acquisitions. Additional information and risk factors
that could potentially affect Boston Biomedica's results may be found in the
Company's filings with the Securities and Exchange Commission (SEC).
SOURCE Boston Biomedica
CONTACT: Richard T. Schumacher, Pres./CEO, or Kevin W. Quinlan, CFO, or William R. Prather, MD, Sr. VP Business Development of Boston Biomedica Inc., 508-580-1900, Maribel Lopez, ext. 12, or Jon Siegal, ext. 15, both of Ronald Trahan Associates Inc., 617-332-0101
