SOURCE: Pacific Biometrics, Inc.

June 17, 2008 08:50 ET

Pacific Biometrics, Inc. Ranked 8th in a Survey of Fastest-Growing Public Companies in Washington State

Achieved 163% Annual Revenue Growth Compounded Over Three Years

SEATTLE, WA--(Marketwire - June 17, 2008) - Pacific Biometrics, Inc. (OTCBB: PBME) ("PBI"), a leading provider of specialized central laboratory and contract research services, has been identified as the 8th fastest-growing public company in Washington state by the Puget Sound Business Journal. In its May 23-29, 2008 issue (vol. 29, no. 5), the Puget Sound Business Journal published a list of the 50 fastest-growing public companies ranked by three-year compounded annual percent changes in revenue. Moreover, in the same survey, PBI was ranked the 88th largest public company in Washington state, based on 2007 revenues.

Ron Helm, Chairman and Chief Executive Officer of PBI, credits aggressive business development efforts and a diversified client base with the company's 163% percent revenue growth from 2005-2007. Helm said, "We have focused considerable resources on expanding our business development and sales & marketing activities, together with substantial improvements and upgrades of our laboratory and technical infrastructure. These investments have paid off, as witnessed by our fiscal 2006 and 2007 financial performance, which in terms of revenues are the two best years in the company's history. Moreover, with the recent creation of our new Pacific Biomarkers subsidiary, which has resulted in a considerable expansion of our service menu, and with further additions to our business development team, we expect these trends to continue."

PBI's increase in revenues of 163 percent from 2005 to 2007 resulted in a number 8 ranking among public companies in Washington State. Rankings are based on available information from SEC filings and public markets. Other Washington companies on the top-50 list include Trubion Pharmaceuticals Inc., Seattle Genetics Inc., Amazon.com Inc., Starbucks Corp., Microsoft Corp., and Expedia Inc.

About Pacific Biometrics, Inc.:

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 Biomarkers, Inc., incorporated February 1, 2008 as a wholly owned subsidiary of Pacific Biometrics, Inc., focuses specifically on the emerging field of biomarker assay development and testing. Services include validating and performing ligand-binding assays for novel clinical biomarkers, immunogenicity testing, and multiplex testing.

For more information about Pacific Biometrics, visit the company's web site at www.pacbio.com.

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 our established and 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, 2007, December 31, 2007, and March 31, 2008).

Contact Information

  • Contacts:

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

    Kari Charbonnel
    (206) 298-0068