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'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:
VP Business Development and Project Management
Bio Pharma Services Inc.
Advisor, Public relations