WEST BRIDGEWATER, Mass., June 18 /PRNewswire/ -- Boston Biomedica, Inc. (Nasdaq: BBII) announced today the appointment of Mr. William A. Wilson to the Company's Board of Directors to complete the remaining term of Dr. William R. Prather. Dr. Prather, a Board Member since 1999, recently resigned after playing an important role in a number of Company transactions, including the spin-off of its Drug Discovery unit (Panacos Pharmaceuticals) and the sale of its Clinical Laboratory business unit (BBI Clinical Laboratories). Dr. Prather resigned from the Board to pursue other opportunities but will remain on the Company's Institutional Review Board (IRB).
Mr. Wilson was most recently the Chief Financial Officer of Interliant, Inc., an Internet infrastructure services company, which he joined in 1998. Prior to Interliant, Mr. Wilson served as Chief Financial Officer at XCOM Technologies, Inc., a competitive local exchange carrier. Mr. Wilson served as Senior Vice President, Finance and Chief Financial Officer of Computervision Corporation, an enterprise level software developer, in 1997. From 1989-1997, Mr. Wilson was Executive Vice President and Chief Financial Officer of Arch Communications Group, Inc., a leading wireless messaging Company. Mr. Wilson served on the Board of Directors of PSINet, Inc., (Nasdaq: PSIX) a leading independent Internet service provider, from 1996 to 1998, and as a Director of BioSeq, Inc., the original developer of Pressure Cycling Technology (PCT) from 1997 to 1998. BioSeq was acquired by Boston Biomedica in September of 1998. Mr. Wilson received a Bachelor of Arts degree from Luther College, a Master of Science degree from Northeastern University, a Master of Business Administration degree from Babson College, and is a Certified Public Accountant.
"We are extremely pleased to have Bill Wilson join our Board," said Richard T. Schumacher, Founder, CEO and Chairman of BBI. "Bill's strong financial and business development capabilities will be a benefit to all shareholders at this very important time in our Company's growth. We look forward to Bill playing a significant role in helping us plan and achieve the future success of Boston Biomedica."
Boston Biomedica, Inc. provides products and services for the detection and monitoring of infectious diseases such as AIDS and Viral Hepatitis. BBI has three operating business units: (1) BBI Diagnostics, an ISO 9001 certified manufacturer and supplier of quality control and diagnostics reagents used to increase the accuracy of in vitro diagnostic tests, (2) BBI Biotech Research Laboratories, a research and development center providing R&D support for the other BBI business units, as well as contract research and repository services for the government, industry and other third parties, and (3) BBI Source Scientific, an ISO 9001 certified manufacturer of diagnostic instrumentation and medical devices. In addition, BBI is conducting research and development in Pressure Cycling Technology (PCT) through its subsidiary BBI BioSeq, with the goal of introducing new solutions for a number of important healthcare issues, including: inactivation of pathogens in human plasma, sample preparation in molecular diagnostics and proteomics, food safety, and genomics. BBI also maintains a passive investment in Panacos Pharmaceuticals, a privately held antiviral drug and vaccine development company recently spun- off from BBI, whose goal is to introduce new solutions for the treatment of infectious diseases.
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. There can be no assurance that Boston Biomedica will have future growth or that Mr. Wilson will have a significant impact on the success of the Company. Mr. Wilson's appointment as a Director is through the Annual Meeting date of June 21, 2001, and there can be no assurance he will be reelected to the Board at the next Annual Meeting of the Shareholders. Factors that might cause actual results to differ materially from those projected in the forward-looking statements are 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 (as amended) for the year ended December 31, 2000, Form 8-K filed March 8, 2001, Form 10-Q for the quarter ended March 31, 2001, and in the Company's Registration Statements on Form S-3 (Reg. No. 333-46426 and Reg. No. 333-94379). Copies of these documents may be obtained by contacting the Company or the SEC.
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SOURCE Boston Biomedica, Inc.
Web site: http: //www.bbii.com
CONTACT: Richard T. Schumacher, CEO & Chairman, or Kevin W. Quinlan, President & COO of Boston Biomedica, Inc., Boston Biomedica, Inc., 508-580-1900
