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PPD and Lovelace Biomedical and Environmental Research Institute Enter into Collaboration for Laboratory, Preclinical and Clini

^{Published on 2010-07-13 14:11:20 - Market Wire}
 

WILMINGTON, N.C.--([ BUSINESS WIRE ])--PPD, Inc. (Nasdaq: PPDI) and Lovelace Biomedical and Environmental Research Institute (LBERI) today announced they have entered into a collaboration focused on future service opportunities for biopharmaceutical and government clients across a range of therapeutic areas.

"This collaboration also enables us to broaden our work with government organizations through LBERIa™s existing government relationships."

Under the collaboration, the companies plan to refer to one another potential business opportunities for laboratory, preclinical and clinical development services they do not offer to their respective clients. In addition, the companies intend to work together to collaborate and jointly bid on select new research projects.

aAs demand for preclinical services grows, our collaboration with LBERI builds on our strong capabilities and competitive position, particularly in the areas of respiratory, infectious diseases, health outcomes and epidemiology,a said David Grange, chief executive officer of PPD. aThis collaboration also enables us to broaden our work with government organizations through LBERIa™s existing government relationships.a

Robert Rubin, Ph.D., president and chief executive officer of Lovelace Respiratory Research Institute, of which LBERI is a subsidiary, added, aAligning with one of the worlda™s leading CROs allows us to build on our 65-plus year history of discovery research, public health advancement and extensive preclinical service offerings. With PPD, we can expand our already strong laboratory, preclinical and clinical development capabilities to meet future health challenges.a

About PPD

PPD is a leading global contract research organization, celebrating 25 years of providing drug discovery, development and lifecycle management services. Our clients and partners include pharmaceutical, biotechnology, medical device, and academic and government organizations. With offices in 41 countries and more than 10,500 professionals worldwide, PPD applies innovative technologies, therapeutic expertise and a commitment to quality to help clients and partners accelerate the delivery of safe and effective therapeutics and maximize the returns on their R&D investments. For more information, visit [ www.ppdi.com ].

About Lovelace

Lovelace Biomedical and Environmental Research Institute and its family of companies is a 65-year-old, not-for-profit biomedical research institute dedicated to improving the public health through cutting-edge research on the causes, new treatments and molecular mechanisms of disease.The Institutes specialize in drug development; environmental science, clinical and health outcomes investigations; defense studies and respiratory disease research.Lovelace Biomedical and Environmental Research Institute (LBERI) is a subsidiary of Lovelace Respiratory Research Institute (LRRI). LRRI is based in Albuquerque, N.M., employs 1,100 people, and is a $125 million company. For more information, visit[ www.lrri.org ].

Except for historical information, all of the statements, expectations and assumptions contained in this news release, including expectations and assumptions about the collaboration between PPD and Lovelace, are forward-looking statements that involve a number of risks and uncertainties. Although PPD attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors which could cause results to differ materially include the following: economic conditions and outsourcing trends in the pharmaceutical, biotechnology, medical device, academic and government industry segments; competition within the outsourcing industry; risks associated with and dependence on collaborative relationships; rapid technological advances that make our products and services less competitive; success in sales growth; loss of large contracts; increased cancellation rates; and the ability to attract and retain key personnel; and the other risk factors set forth from time to time in the SEC filings for PPD, copies of which are available free of charge upon request from the PPD investor relations department.