New technologies and partnerships launched to date in 2010 are expected to generate $ 3 to 5 million in annual contracts by 2011
Toronto Stock Exchange Symbol: LRI
LAVAL, QC, June 10 /CNW Telbec/ - LAB Research Inc. ("LAB Research"), (TSX: LRI), a Canadian-based global non-clinical contract research organization, today announced that it has recently completed development of a novel drug investigation model focused on biodistribution and pharmacokinetic of biologics.
LAB Research's innovative strategy combines its expertise in pharmacology, infusion, surgery and minipigs research and could potentially revolutionize pharmacokinetic assessments of new therapeutic proteins. The new drug investigation model was created with the specific goal of meeting the early non-clinical research needs of pharmaceutical companies developing therapeutic proteins and to facilitate lead compound selection. The new model is being offered for regulatory driven studies complying with Good Laboratory Practices.
"The completion of this novel drug investigation model follows another recently completed research and development program involving real time quantitative pulmonary monitoring of non-human primates using wireless telemetry technology. Both highly specialized programs, once again, clearly demonstrate our leadership in developing innovative scientific solutions for clients", said Luc Mainville, President and Chief Executive Officer of LAB Research. "The launch of novel services and partnerships announced to date in 2010 are meant to help generate new recurrent revenues estimated at $3 to 5 million per year by 2011."
About LAB Research Inc.:
LAB Research is a Canadian global non-clinical contract research organization that provides contract research services to the pharmaceutical, biotechnology, agro-chemical, petro-chemical and industrial markets. LAB Research supports the development of its customers' products from three state-of-the-art facilities located in Canada, Denmark and Hungary.
LAB Research's shares trade on the TSX under the symbol "LRI", with 52.7 million shares outstanding.
This news release contains certain forward-looking statements that reflect the current views and/or expectations of LAB Research Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
SOURCE LAB RESEARCH INC.
For further information: For further information: visit LAB Research's website at www.labresearch.com, or contact: Luc Mainville, Chief Executive Officer, Tel: (450) 973-2240 (ext. 1206), firstname.lastname@example.org; Frédéric Dumais, Partner, Jasmin-Dumais Financial Communications, Tel: (514) 862-1251, email@example.com