13 Jul. 2010
WILMINGTON, N.C. (July 13, 2010) - 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.
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.
"As 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," said David Grange, chief executive officer of PPD. "This collaboration also enables us to broaden our work with government organizations through LBERI's existing government relationships."
Robert Rubin, Ph.D., president and chief executive officer of Lovelace Respiratory Research Institute, of which LBERI is a subsidiary, added, "Aligning with one of the world'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."
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.