Pacific Biometrics, Inc. Announces the Appointment of Michael Murphy, PhD as Chief Operating OfficerSEATTLE, Dec. 22 /PRNewswire-FirstCall/ -- Pacific Biometrics, Inc. (OTC Bulletin Board: PBME; "PBI"), today announced that Dr. Michael Murphy has been appointed to the position of Chief Operating Officer.
Prior to this appointment, Dr. Murphy served as the Company's Senior Vice President, Operations, from May 2005 to October 2009. In this position, he has managed all aspects of PBI's service business, including laboratory operations, client and information services, business development and quality assurance.
Dr. Murphy was previously Technical Director at Laboratory Corporation of America (LabCorp®), where he was responsible for three of its West Division laboratories (Northwest, Reno, and Salt Lake regions). In this role, he provided technical leadership for all aspects of operations, including the operational re-design of the labs for cost reductions and new technology introduction. Dr. Murphy has also served in leadership positions at a number of healthcare and research centers, including Eastern Maine Medical Center (Laboratory Director) and CompuLab Corporation (Director of Professional Services).
Dr. Murphy earned a BS Degree in Natural Sciences from Xavier University in Cincinnati, Ohio, and a PhD in pathology and physiological chemistry from The Ohio State University. He is also a Diplomat of the American Board of Clinical Chemistry.
"As a key member of the PBI senior management team, Dr. Murphy has played a critical role in growing and nurturing our dynamic service business model," commented Ron Helm, Chairman and Chief Executive Officer of Pacific Biometrics, Inc. "He has proven to be an outstanding member of our executive team, has played a critical role in shaping the Company's business strategy, and has made numerous material contributions to the execution of our operating plans. It is a great pleasure to announce his appointment as Chief Operating Officer, thereby further solidifying the Company's senior management team. We look forward to Michael's leadership as PBI continues expands into new areas - most notably clinical biomarker services - and seeks to enhance shareholder value by building upon the record earnings we reported in Fiscal 2009."
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, 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 ligand-binding assays for novel clinical biomarkers, immunogenicity testing, cell based assay testing and multiplex testing.
PBI is headquartered in Seattle, Washington, and its common stock trades on the OTC Bulletin Board under the symbol "PBME". For more information about PBI, 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 following: results of business development activities; future growth; and the viability and acceptance of the Company's biomarker services. 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, the following: the Company's ability to enter into contracts for its laboratory testing or biomarker services; client changes or early terminations of studies; variability in backlog; the success of marketing and business development efforts, and competitive factors; the Company's ability to manage growth; and other risks and uncertainties set forth in periodic filings with the U.S. Securities and Exchange Commission (including Form 10-K for the year ended June 30, 2009).
SOURCE Pacific Biometrics, Inc.
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