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Edited by Christopher Simmons, senior news editor


TEAM WORKING TOGETHER TO BRING BIOTECHNOLOGY MANUFACTURING CENTER TO MASSACHUSETTS

CAMBRIDGE, MA. - July 7, 2003 /Send2Press Newswire/ -- York Street LLC (www.yorkstreetllc.com) a developer of real estate for biotechnology manufacturing, development and research today announced that it has reached agreement with three leading Massachusetts-based companies supporting the Biotechnology community to work together to bring large-scale biotechnology manufacturing to Massachusetts.

The agreements are with PAREXEL International Corporation, a leading biopharmaceutical outsourcing organization. PAREXEL has approximately 5,100 employees worldwide and played a role in developing 23 of the 25 top drugs introduced in 2000. BioMetics Inc. a leading Biomedical Process Management company focusing on the key manufacturing areas of process definition, development and scale-up; Shooshanian Engineering Inc. a nationally recognized mechanical and electrical engineering consulting firm specializing in study, design, and construction services of biotechnology facilities.

"Our first manufacturing location is in Western Massachusetts and provides a facility that has 28% lower labor costs and 22% lower real estate costs yet is a short drive to the key research locations in Cambridge and Boston," noted Samuel J. Kline, Managing Partner at York Street LLC. "We believe that the lower costs when combined with easy access to key research sites will reduce time-to-market for new drugs."

Andrew W. Morffew, President of PAREXEL'S Consulting Group, said, "We believe that biotechnology manufacturing has become a very high technology function and access to the trained and educated workforce from the area's regional colleges and universities will be a key success factor for companies that have growing bio-manufacturing operations."

"BioMetics has seen a trend for increasing interaction between research and manufacturing within a company and creating a low-cost manufacturing location within easy reach of the research organization will be a key factor to smooth the transition to volume production", commented Stephen W. Fitzpatrick, PHD, President of BioMetics Inc.

According to Shooshanian Engineering Inc. CEO Robert A. Gracilieri, "We believe that this team brings together the key elements that will create a center for biotechnology manufacturing in Massachusetts and provide a natural expansion of the concentration of biotech research efforts located in Eastern Massachusetts."

About York Street LLC.

York Street LLC ( www.yorkstreetllc.com ) is a privately held company that targets real estate development in the key area of Biotechnology Manufacturing and development. York Street builds custom facilities to meet the specific needs of Biotechnology companies. Contact Samuel J. Kline, Managing Partner (skline@yorkstreetllc.com 781-378-1212).

About PAREXEL International Inc.

PAREXEL International Corporation is one of the largest biopharmaceutical outsourcing organizations in the world providing a broad range of knowledge-based contract research, medical marketing and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries. With a commitment to providing solutions that expedite time-to-market and peak market penetration, PAREXEL has developed significant expertise in clinical trials management, data management, biostatistical analysis, medical marketing, clinical pharmacology, regulatory and medical consulting, industry training and publishing and other drug development consulting services. PAREXEL's integrated services, therapeutic area depth and sophisticated information technology, along with its experience in global drug development and product launch services, represent key competitive strengths. Headquartered near Boston, MA, PAREXEL operates in 58 locations throughout 36 countries around the world, and has approximately 5,100 employees.

About BioMetics Inc.

Located in Waltham, Massachusetts BioMetics, Inc. provides engineering, design, construction, validation, CGMP consulting and project management services for biopharmaceutical and environmental technology companies. We deliver the highest quality of services to our clients, adding value to each project through innovative approaches to design and cost containment.

About Shooshanian Engineering Inc.

Founded in 1961, in Boston, Massachusetts, Shooshanian Engineering is a nationally recognized mechanical and electrical engineering consulting firm specializing in study, design, and construction services of mechanical, electrical, plumbing, fire protection and communication technologies systems for commercial, industrial, institutional, biotechnology and telecommunications facilities.

Shooshanian has over 140 engineering professionals with offices in Boston and Houston with expertise in energy management, building management controls, commissioning, communication technologies, project management and construction administration.

Source of news: York Street LLC
Website: www.yorkstreetllc.com



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