Attributes Its 237 Percent Revenue Growth to Broader, Deeper Client Relationships, Expanding Menu of Novel Biomarker Assays, Upgraded Infrastructure, and Pursuit of Central Lab Partnerships
SEATTLE, WA, Oct 27, 2010 (MARKETWIRE via COMTEX) -- Pacific Biomarkers, Inc., a provider of biomarker laboratory services to the pharmaceutical, biotechnology and diagnostics industries, today announced that it is one of the companies on Technology Fast 500(TM), Deloitte's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the period from 2005-2009.
Pacific Biomarkers' revenue grew 237 percent during this period. Pacific Biomarkers' chief executive officer, Ron Helm, credits broader, deeper client relationships, developed through an upgraded business development infrastructure, and pursuit of central lab partnerships for the company's revenue growth. He said, "We are very pleased that Deloitte has honored us, recognizing Pacific Biomarkers' success as one of North America's fastest growing technology firms."
Mr. Helm added, "Our improvements over the last five years rest on three basic factors: a continuous effort in business development to expand our relationships with existing customers, while acquiring new ones with our expanded menu of novel biomarker assays; the expansion of our scientific infrastructure with greater expertise and the addition of new technology and instrumentation platforms; and the pursuit of strong central lab partnerships to expand our global reach, establish a presence in new markets and participate aggressively in joint marketing efforts."
"Pacific Biomarkers and the other 2010 Technology Fast 500(TM) winners forged ahead in a challenging economic environment to realize exceptional growth," said Phil Asmundson, vice chairman and Deloitte's U.S. technology, media and telecommunications leader. "Deloitte commends Pacific Biomarkers for this impressive accomplishment."
"Pacific Biomarkers has proved itself to be one of the fastest growing tech companies in North America, and we are proud to honor them as one of the 2010 Technology Fast 500(TM)," said Mark Jensen, managing partner, venture capital services, Deloitte & Touche LLP.
The company's revenues for its most recently completed fiscal year (ended June 30, 2010) are contained in its annual report on Form 10-K filed with the SEC. Pacific Biomarkers' revenues, both during the measured period and on-going, fluctuate significantly from one fiscal period to another. The annual report also includes discussion of factors that impact fluctuations in the company's revenues. Interested readers should review this annual report and the company's other filings with the SEC.
For additional details on the Technology Fast 500(TM) including selection and qualifying criteria, visit www.fast500.com
About Pacific Biomarkers, Inc. Established in 1989, PBI provides biomarker laboratory services to support pharmaceutical, biotech and diagnostic manufacturers conducting clinical trial research. The Company provides expert services in the areas of cardiovascular, musculoskeletal diseases, diabetes, obesity, and nutrition. The PBI laboratory is accredited by the College of American Pathologists, New York State, and the Lipid Standardization Program. PBI's clients include many of the world's largest pharmaceutical, biotech, and diagnostic companies. PBI also provides clinical biomarker services focusing on the emerging field of biomarker assay development and testing. Services include validating and performing custom assays for novel clinical biomarkers, immunogenicity testing, cell-based assays, mass spectrometry, and multiplex testing. PBI is headquartered in Seattle, Washington, and its common stock trades on the OTC Bulletin Board under the symbol "PBMC."
For more information about PBI, visit the company's website at www.pacbio.com.