Bio Pharma Services Inc. Opens New Bioanalytical Laboratory Financed by BDC

TORONTO, Nov. 17, 2011 /CNW Telbec/ - Bio Pharma Services Inc. (BPSI) today announced the opening of its new bioanalytical laboratory located in Toronto. BPSI has received subordinate debt financing from the Business Development Bank of Canada (BDC) to custom design and build its 12,000 square-feet laboratory equipped with state-of-the-art bioanalytical laboratory capabilities for mass spectrometry, high performance liquid chromatography, handling of biohazardous samples, and future ligand-binding assay capabilities.

"The new laboratory will allow BPSI to become a true one-stop-shop and provide clinical and bioanalytical services to pharmaceutical, biotechnology and medical device manufacturing companies across the world, while maintaining scientific integrity and quality standards," says Dr. Masood Bhatti, Chief Scientific Officer, BPSI.

"BPSI's depth of experience and knowledge in Bioequivalence and Phase I/IIa studies is the foundation of its success," says Enes Kula, Manager, BDC Subordinate Financing. "BPSI has an established reputation for drug development and contract research with pharmaceutical and biotechnology companies. The company is now looking to expand its service offerings, strengthen customer relationships and continue to grow as an early stage drug developer."

"This is a significant leap forward for us in North America. We can now offer both clinic and bioanalytical services under a controlled GCP and GLP environment.  As one of the fastest growing Contract Research Organizations (CRO) in the Early Phase business, we are excited about our growth opportunities and many prospects for the future," says Renzo DiCarlo, CEO, BPSI. "BDC has not only been a capital supporter of BPSI's new laboratory but also worked with us from the concept stage, throughout the business planning phase and during the physical implementation phase. I am proud to have the BDC as a partner and feel confident that they will continue to be involved in BPSI's success.

About Bio Pharma Services Inc.
Bio Pharma Services Inc. (BPSI) is a privately held physician-owned and run CRO which specializes in Bioequivalence (BE) Studies for generic pharmaceutical companies, and Phase I/IIa clinical trials for innovative pharmaceutical, biotechnology and medical device companies from Europe, US, Canada, Australia, and the rest of the world. BPSI is FDA, MHRA and Health Canada inspected and currently has a modern 174-bed clinical facility and a newly opened bioanalytical laboratory based in Toronto, Canada.

About BDC

Canada's business development bank, BDC, puts entrepreneurs first. With almost 1,900 employees and more than 100 business centres across the country, BDC offers financing, subordinate financing, venture capital and consulting services to 29,000 small and medium sized companies. Their success is vital to Canada's economic prosperity. www.bdc.ca

SOURCE BUSINESS DEVELOPMENT BANK OF CANADA

For further information:

Lorelei Lutter
VP Business Development and Project Management
Bio Pharma Services Inc.
416-671-5665
llutter@biopharmaservices.ca.

Maria Constantinescu
Advisor, Public relations
BDC
514-496-1876
maria.constantinescu@bdc.ca


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