These contracts with a pharmaceutical company (the sponsor) are part of a series of seven contracts related to clinical trials that form part of a global development program for an innovative approach for the treatment of type 2 diabetes and obesity.
Pacific Biometrics (PBI) will provide the sponsor with testing of metabolic markers and gut hormones on samples collected to support the sponsor’s clinical development program. Testing has already commenced and is anticipated to be completed by the end of the first quarter of calendar 2009, although additional studies may be added to the program. PBI estimates total revenue over the expected life of these contracts at over $800,000.
Ron Helm, CEO of Pacific Biometrics, said: “The sponsor is developing a next-generation metabolic drug and we are excited to be a part of this program. The sponsor required a lab with gold-standard methods for metabolic marker and hormone testing, as well as the capability to set up and validate new assays, and PBI is well positioned to deliver the highest quality results in all of these areas.”