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Innovative Biosensors, Inc. And Cambrex Corporation Establish Manufacturing Relationship

Published: Oct 04, 2005

COLLEGE PARK, Md., and EAST RUTHERFORD, N.J., Oct. 4 /PRNewswire-FirstCall/ -- Innovative Biosensors, Inc. (IBI), a company developing rapid, ultra-sensitive tests to detect harmful pathogens, and Cambrex Bio Science Walkersville, Inc., a subsidiary of Cambrex Corporation , today announced that they have signed an agreement for Cambrex to supply cGMP manufacturing services.

(Logo: http://www.newscom.com/cgi-bin/prnh/20000613/CAMBREXLOGO )

Innovative Biosensors, Inc. develops, manufactures, and markets pathogen tests for infectious diseases within the food safety and human clinical markets. Under the agreement, Cambrex Bio Science will provide cGMP (current Good Manufacturing Processes) production services for the manufacture of IBI's human clinical testing reagents. Production will take place in Cambrex's Walkersville, Maryland, facility.

"We are proud to be IBI's partner and believe that their technology has great potential. This is the first agreement where we will supply our cell-based cGMP manufacturing services, usually provided to therapeutic companies, to a client with innovative pathogen detection products. We believe our experience and infrastructure can help Innovative Biosensors jump start the product commercialization process," commented Shawn Cavanagh, Senior Vice President and General Manager, Cambrex Bioproducts.

"Cambrex's state-of-the-art facilities and scale-up expertise are among the many advantages of this manufacturing relationship," said Joe Hernandez, IBI's President and CEO. "Cambrex's commitment to quality through cGMP and Lean Six Sigma will quicken the commercialization of our human clinical diagnostic products."

About Cambrex Corporation

Cambrex Corporation is a global, diversified life science company dedicated to providing products and services to accelerate the discovery and commercialization of human therapeutics. The company employs approximately 1,900 people worldwide. For more information, visit http://www.cambrex.com.

Cambrex Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under The Securities Exchange Act of 1934, including, without limitation, statements regarding expected performance, especially expectations with respect to sales, research and development expenditures, earnings per share, capital expenditures, acquisitions, divestitures, collaborations, or other expansion opportunities. These statements may be identified by the fact that words such as "expects", "anticipates", "intends", "estimates", "believes" or similar expressions are used in connection with any discussion of future financial and operating performance. The forward-looking statements contained herein are based on current plans and expectations and involve risks and uncertainties that could cause actual outcomes and results to differ materially from current expectations including but not limited to, global economic trends, pharmaceutical outsourcing trends, competitive pricing or product developments, government legislation and/or regulations (particularly environmental issues), tax rate, technology, manufacturing and legal issues, changes in foreign exchange rates, performance of minority investments, un- collectable receivables, loss on disposition of assets, cancellation or delays in renewal of contracts, and lack of suitable raw materials or packaging materials. For further details and a discussion of these and other risks and uncertainties, investors are cautioned to review the Cambrex Annual Report on Form 10-K, including the Forward-Looking Statement section therein, and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

About Innovative Biosensors, Inc.

Innovative Biosensors, Inc. is a privately held company developing novel technologies for the rapid detection of pathogens. The company's technology is expected to have broad applications in food testing, animal health, and human health care, including drug discovery and development and disease diagnosis. Additional information is available at http://www.innovativebiosensors.com.

Innovative Biosensors, Inc. Forward Looking Statements

This release may contain forward-looking statements that are subject to certain risks and uncertainties, including Innovative Biosensors' mission to develop and commercialize instrument systems, Innovative Biosensors' ability to develop new technologies to conduct rapid diagnosis. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Innovative Biosensors cautions investors that there can be no assurance that actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors, including, but not limited to, the following: Innovative Biosensors' expectations that they will incur operating losses in the near future, the early stage of development of Innovative Biosensors' products and technologies, uncertainties related to preclinical and clinical testing and trials, uncertainties surrounding the availability of additional funding, Innovative Biosensors' reliance on research collaborations, the actions of competitors and the development of competing technologies, potential patent infringement claims against Innovative Biosensors' products, processes and technologies, Innovative Biosensors' ability to protect their patents and proprietary rights and uncertainties relating to commercialization rights.

Photo: http://www.newscom.com/cgi-bin/prnh/20000613/CAMBREXLOGOCambrex Corporation

CONTACT: Anne-Marie Hess of Cambrex, +1-201-804-3062,annemarie.hess@cambrex.com; or Hollie Kephart, Media Relations ofInnovative Biosensors, Inc., +1-301-405-8444, info@innovativebiosensors.com

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