Pacific Biomarkers, Inc. Awarded Major Research Contract as Part of Innovative Diabetes Program

SEATTLE, March 15 /PRNewswire-FirstCall/ -- Pacific Biomarkers, Inc. (OTC Bulletin Board: PBMC) ("PBI"), which provides specialized central laboratory and contract research services to support pharmaceutical and diagnostic manufacturers conducting human clinical trial research, today announced that it has been awarded a contract by a global central laboratory to provide supporting laboratory data for a multinational pharmaceutical company (the "Sponsor").  This contract is related to the clinical development of an innovative new treatment for diabetes.

PBI is specifically contracted to provide specialty biomarker testing related to the mechanism of action of an investigational drug as part of a multinational clinical trial.  Testing under the newly awarded contract is expected to begin in calendar 2010 and continue into calendar 2012.  PBI estimates that total revenue over the expected life of the contract should approximate $1.2 million.

"Our inclusion in this clinical trial program is significant for several reasons," stated Ron Helm, Chief Executive Officer of Pacific Biomarkers, Inc.  "First of all, this represents a substantial referral contract from a large, global central laboratory.  One of our stated strategic goals involves partnering with global central laboratories to support multinational trials.  Second, the sponsor is a top-tier, multinational pharmaceutical company that we have worked with in the past.  Third, our selection for this project represents a validation for our worldwide, best-in-class testing of biomarkers as they relate to the diagnosis and treatment of diabetes and metabolic disorders -- a key area of expertise for PBI.  And finally, assuming the scope of the trial remains unchanged, the contract should contribute meaningfully to our fiscal 2011 and 2012 financial results."

About Pacific Biomarkers, Inc. (PBI)

Established in 1989, PBI provides specialized central laboratory and contract research services to support pharmaceutical and diagnostic manufacturers conducting human clinical trial research. The Company provides expert services in the areas of cardiovascular disease, diabetes, osteoporosis, arthritis, and nutrition. The PBI laboratory is accredited by the College of American Pathologists, New York State, and the Lipid Standardization Program. PBI's clients include many of the world's largest pharmaceutical, biotech, and diagnostic companies. PBI also provides clinical biomarker services focusing on the emerging field of biomarker assay development and testing. Services include validating and performing ligand-binding assays for novel clinical biomarkers, immunogenicity testing, cell based assay testing and multiplex testing.

PBI is headquartered in Seattle, Washington, and its common stock trades on the OTC Bulletin Board under the symbol "PBMC". For more information about PBI, visit the company's web site at www.pacbio.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release includes forward-looking statements including, but not limited to, the following:  results of business development activities; future growth; and the viability and acceptance of the Company's biomarker services.  These forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those described in the forward-looking statements.  These risks include, but are not limited to, the following:  the Company's ability to enter into contracts for its laboratory testing or biomarker services; client changes or early terminations of studies; variability in backlog; the success of marketing and business development efforts, and competitive factors; the Company's ability to manage growth; and other risks and uncertainties set forth in periodic filings with the U.S. Securities and Exchange Commission (including Form 10-K for the year ended June 30, 2009).

SOURCE Pacific Biomarkers, Inc.