CANTEST Acquires Equity Position in Vancouver Clinical Trial Facility

Press Release

May 20, 2003

Burnaby, British Columbia - Don Enns, President of CANTEST LTD., is pleased to announce that the company has acquired an equity position in Vancouver based Prime Trials Inc.

The investment, in partnership with BIRC, Vancouver Hospital (VH), and the University of British Columbia (UBC) is consistent with CANTEST's growth strategy predicated upon the creation of a fully integrated life sciences organization offering services in support of food safety, environmental health, and drug development. 

"This initiative represents another vital step in our drive to create a comprehensive research based partnership with a scope and breadth unequalled in Western Canada" states Mr. Enns.  "The company is now in the unique position of being able to promote a state-of-the-art clinical facility as well as a laboratory capable of providing GLP and non-GLP services".

Chief Executive Officer of Prime Trials, Mr. Colin Mallet, sees the commitment to the clinic as a continuation of two mandates: "Whereas CANTEST's involvement with the clinic is consistent with their desire to become a leader in the contract services field, the partnership also benefits Prime Trials by allowing us access to infrastructure, expertise and administrative support". 

CANTEST LTD. is a private, full-service analytical testing and contract research company serving a broad range of private and public sector clientele.  The company’s 45,000 square foot Burnaby Life Sciences Centre employs over 170 professional chemists, researchers and administrative support staff.

Prime Trials is a specialty contract clinical research organization focused on providing Phase 1 and 2a proof-of-concept investigations in man for new research compounds from pharmaceutical and biotechnology companies.  Through association with UBC and its location within the university’s affiliated teaching hospital (VH), Prime Trials has unparalleled access to extensive medical expertise, specialized equipment, and diverse patient populations.

For more information, please contact CANTEST President Mr. Don Enns at (604) 723-7276.

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