SOURCE: Pacific Biometrics, Inc.

November 14, 2007 08:00 ET

Pacific Biometrics, Inc. Announces Appointment of Dr. Edwin Merrifield to Lead Biomarker Technical Operations

SEATTLE, WA--(Marketwire - November 14, 2007) - Pacific Biometrics, Inc. (PBI) (OTCBB: PBME) announced the appointment of Edwin Merrifield, Ph.D. as its new Director, Biomarker Technical Operations. Dr. Merrifield joined PBI in February 2007 as Senior Scientist. Dr Merrifield has more than 20 years' experience in the biotechnology industry, with a particular focus on GMP process development, GLP laboratory operations and assay development for biologic drugs. Dr. Merrifield will be responsible for the technical direction and provision of client support for the newly launched Clinical Biomarker Services, a new area of specialty testing services for clinical drug development.

Clinical Biomarker Services was established primarily to support the clinical development of biotherapeutics. The new services will include validation of ligand-binding assays for immunogenicity testing and novel biomarkers in a regulatory-compliant laboratory environment. These new specialty biomarker services will be supported by investments in new instrument platforms for electrochemiluminescence- and multiplex-based testing.

The company expects that the new specialty services for biotherapeutics will open new markets for PBI in biopharmaceutical and biotech companies, and will broaden the specialty central lab services PBI has provided for the past 18 years.

Commenting on Dr. Merrifield's appointment, Ron Helm, Chief Executive Officer of Pacific Biometrics, said, "We are very pleased that Ed has agreed to assume these new responsibilities. In the short time that he has been at PBI, Ed has demonstrated his deep and extensive knowledge of the biotech industry, especially as it relates to the unique challenges associated with the clinical development of biologic drugs. Ed is singularly well suited to heading up our technical operations for this critical new service area. As noted earlier, we are seeing the continued evolution of clinical drug development towards increased reliance on novel biomarkers."

Helm continued, "The provision of clinical biomarker services requires a high level of scientific expertise and a thorough understanding of ligand-binding assays, which PBI has demonstrated consistently since it was founded in 1989. We will also begin providing immunogenicity testing services, which is a specific requirement for biologic drugs and represents an area of growing demand. The company is fully committed to becoming a significant player in outsourced clinical biomarker services and we expect to see substantial growth in backlog and revenues associated with these services in the medium and long term."

About Pacific Biometrics, Inc. (PBI)

Established in 1989, PBI provides specialized central laboratory and contract research services to support pharmaceutical and diagnostic manufacturers conducting human clinical trial research. The company provides expert services in the areas of cardiovascular disease, diabetes, osteoporosis, arthritis, and nutrition. The PBI laboratory is accredited by the College of American Pathologists, and through its non-profit affiliate Pacific Biometrics Research Foundation, is one of only three U.S.-based members of the Centers for Disease Control (CDC) Cholesterol Reference Method Laboratory Network. PBI's clients include many of the world's largest pharmaceutical, biotech, and diagnostic companies.

Pacific Biometrics also owns several patented and patent-pending technologies, including monitoring devices for glucose and changes in bone turnover, an advanced, proprietary, isothermal DNA amplification technology, and a gene-based cell viability technology to distinguish live from dead cells in a broad range of diagnostic applications.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release includes forward-looking statements including, but not limited to, the growth in revenues and backlog that may result from these new services, our strategic planning and business development plans, impacts on our financial results, our future growth, and the viability and acceptance of our products and services in the market. These forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those described in the forward-looking statements. These risks include, but are not limited to, our ability to bid on and win laboratory services contracts, the success of our marketing and business development efforts, competition in the industry, and our ability to manage growth, as well as the risks and other factors set forth in our periodic filings with the U.S. Securities and Exchange Commission (including our Form 10-KSB for the year ended June 30, 2007 and our Form 10-QSB for the quarters ended September 30, 2006, December 31, 2006, and March 31, 2007).

Contact Information

  • Contact:

    Pacific Biometrics, Inc.
    Ron Helm
    (206) 298-0068

    Kari Charbonnel
    (206) 298-0068