March 17, 2010 (FinancialWire) — Pacific Biomarkers, Inc. (OTCBB: PBMC) (“PBI”) said it has been awarded a contract by a global central laboratory to provide supporting laboratory data for a multinational pharmaceutical company. This contract is related to the clinical development of an new treatment for diabetes.

PBI said it 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 scheduled 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.

Washington-based Pacific Biomarkers provides specialized central laboratory and contract research services to support pharmaceutical and diagnostic manufacturers conducting human clinical trial research.

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