Rockville, MD, December 3, 2007 – (BUSINESS WIRE) — BioReliance Corporation announced today that David A. Dodd has been named President, Chief Executive Officer and Chairman of the Board of the Company, effective today. BioReliance Corporation is a leading contract services company that provides biologics safety testing, toxicology, viral manufacturing and laboratory animal diagnostic services to the pharmaceutical and biopharmaceutical industries worldwide. Avista Capital Partners, a leading private equity firm, acquired BioReliance from Invitrogen (NASDAQ:IVGN) in April 2007.
From 2000 through 2006, Mr. Dodd served as President and CEO of Serologicals Corporation, a publicly traded company that was sold to Millipore Corporation in 2006 for $1.4 billion. Prior to that, from 1995 he was President and CEO of Solvay Pharmaceuticals, Inc., a subsidiary of the Solvay Group. Mr. Dodd entered the pharmaceutical industry in 1977 when he joined Abbott Laboratories. He built on that foundation at McDonnell-Douglas Healthcare Systems, Bristol-Myers Squibb and Wyeth. Mr. Dodd currently serves as Non-executive Chairman of the Board at Stem Cell Sciences plc. (LSE:AIM: STEM; ASX: STC)
“David brings an impressive record of maximizing the potential and competitive impact of the companies he manages,” said David Burgstahler, a partner at Avista. “He is a compelling and focused leader with proven ability at not only expanding revenues and profits at a rapid pace, but at the same time building very strong organizations with dedicated management teams. We look forward to working with David to continue to advance BioReliance’s leadership in its industry space.”
“BioReliance is well known for its great legacy of pioneering science, strong regulatory expertise and innovative biologics safety services,” said Mr. Dodd. “I intend to work closely and quickly with Avista and the BioReliance organization to move the Company to a position of greater leadership in each of its service areas. I am confident in the Company’s growth and future, as we develop an exciting organization for outstanding customer service, unparalleled competitive dedication, employee career development and consistent focus on increasing shareholder value.”
“We want to thank Charlie Harwood for serving as Executive Chairman and Interim CEO of BioReliance,” said Mr. Burgstahler. Mr. Harwood will continue to serve on the Board.
Mr. Harwood stated, “I have enjoyed my brief time at the helm of this exciting organization, and look forward to making additional contributions to the Company at the Board level. The entire Board welcomes David’s leadership and experience, and is excited for him to guide the Company in its next stage of growth.”
Founded in 1947 as Microbiological Associates, Rockville, Maryland-based BioReliance Corporation is a leading specialist provider of contract biologics safety testing, GMP manufacturing and pre-clinical testing services, and focuses on the rapidly growing biologics sector of the pharmaceutical industry. The Company provides cost-effective services to more than 600 clients annually, including most of the largest pharmaceutical and biopharmaceutical companies in the world. BioReliance’s services and broad experience provide all of its clients with a cost-effective alternative to the fixed costs associated with internal development and manufacturing.
About Avista Capital Partners
Avista Capital Partners is a leading private equity firm with offices in New York, NY and Houston, TX. Founded in 2005, Avista’s strategy is to make controlling or influential minority investments primarily in growth-oriented media, healthcare and energy companies. Through its team of seasoned investment professionals and industry experts, Avista seeks to partner with exceptional management teams to invest in and add value to well-positioned businesses. For more information, visit www.avistacap.com.
About BioReliance Corporation
BioReliance Corporation is a leading contract services organization, offering more than 1,000 tests or services related to biologics safety testing, in vitro and in vivo toxicology, viral manufacturing and lab animal health diagnostics for the biopharmaceutical and pharmaceutical industries. BioReliance has its primary facilities in Rockville, Maryland, Glasgow, Scotland and Stirling, Scotland. Headquartered in Rockville, Maryland, BioReliance employs more than 700 people globally. For more information, visit www.bioreliance.com.