[October 11, 2004] Pacific Biometrics, Inc. and UTEK Corporation Announce Strategic Alliance Agreement for Technology Transfer SEATTLE & PLANT CITY, Fla. --(Business Wire)-- Oct. 11, 2004 -- Pacific Biometrics, Inc. (OTCBB:PBME), a company which provides specialty central laboratory services and UTEK Corporation (AMEX:UTK), an innovative technology transfer company, announced jointly today the signing of a Strategic Alliance Agreement. Ronald Helm, Chief Executive Officer of Pacific Biometrics, Inc., stated, "The strategic alliance agreement with UTEK is expected to allow our firm to rapidly access technologies from leading universities and federal laboratories. We are seeking innovative technologies that will enhance our diagnostic platforms and drug-development support activities." "UTEK looks forward to working with Pacific Biometrics, Inc. to identify laboratory discoveries to further enhance their core technologies," said Clifford M. Gross, Ph.D., Chairman and Chief Executive Officer of UTEK. Through its strategic alliance agreements, UTEK assists technology companies in enhancing their new product pipeline with the acquisition of proprietary intellectual capital from universities and laboratory research centers. Strategic alliance agreements are generally cancelable by either party with thirty days advance written notice. About UTEK Corporation UTEK is a leading, market-driven technology transfer company that enables companies to rapidly acquire innovative technologies from universities and research laboratories. UTEK is the only company that facilitates the identification and acquisition of external technologies for clients in exchange for their equity securities, while allowing research institutions to receive 100% of the royalties. This unique process is called U2B(R). UTEK seeks to transfer proprietary technologies to create product differentiation, resulting in a strategic marketplace advantage. For more information about UTEK, please visit its website at http://www.utekcorp.com. About Pacific Biometrics, Inc. Pacific Biometrics, Inc. (PBI) provides specialty central laboratory services to support pharmaceutical and diagnostic manufacturers in the conduct of human clinical research, for use in their drug discovery and development efforts. The Company's specialty areas include cardiovascular disease (dyslipidemia, atherosclerosis and coronary heart disease), diabetes (and obesity), bone and joint diseases (osteoporosis and arthritis) and nutrition. Coupled with its specialty testing, PBI also has central laboratory capability and provides full-service central laboratory support for multi-center clinical trials, including routine safety lab tests (general chemistry, hematology and urinalysis). PBI owns proprietary molecular diagnostic and noninvasive device technologies relevant to its areas of specialty expertise. For additional information please visit the company's website at http://www.pacbio.com. Forward-Looking Statements Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words such as UTEK or PBI "expect," "anticipate" or words of similar import. Similarly, statements that describe UTEK's or PBI's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of UTEK or PBI, as appropriate, and market valuations of their stock, which could cause actual results to differ materially from those currently anticipated. Although UTEK and PBI, as appropriate, believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, they can give no assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Forward-looking statements made herein are only made as of the date of this press release and neither UTEK nor PBI, as appropriate, undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. UTEK's operating results could fluctuate significantly due to a number of factors. These factors include the small number of transactions that are completed each quarter, the value of individual transactions, the timing of the recognition and the magnitude of unrealized gains and losses, UTEK's dependence on the performance of companies in its portfolio, the possibility that advances in technology could render the technologies it has transferred obsolete, the loss of technology licenses by companies in its portfolio, the degree to which it encounters competition in its markets, the volatility of the stock market and the volatility of the valuations of the companies it has invested in as it relates to its realized and unrealized gains and losses, the concentration of investments in a small number of companies, as well as other general economic conditions. As a result of these factors, current results may not be indicative of UTEK's future performance. For more information on UTEK and for a more complete discussion of the risks pertaining to an investment in UTEK, please refer to UTEK's filing with the Securities and Exchange Commission. PBI's operating results could fluctuate significantly due to a number of factors. These factors include, but are not limited to, it's ability to bid on and win laboratory services contracts, competition in the industry, market acceptance of it's services and proprietary technology, and the success of it's marketing and business development efforts, as well as the risks and other factors set forth in it's periodic filings with the U.S. Securities and Exchange Commission. [ Back To TMCnet.com's Homepage ]