SCHEDULE 14A
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
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Boston Biomedica, Inc.
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(Name of Registrant as Specified in Its Charter)
Boston Biomedica Shareholders Committee
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Contact:
Richard T. Schumacher
Boston Biomedica Shareholders Committee
65 Black Pond Lane, Taunton, MA 02780
508-822-2439 (T) 508-828-6773 (F)
BBICommittee@aol.com
RICHARD T. SCHUMACHER, FOUNDER AND FORMER CEO/CHAIRMAN OF
BOSTON BIOMEDICA, INC., ANNOUNCES THE FORMATION OF THE
BOSTON BIOMEDICA SHAREHOLDERS COMMITTEE
Schumacher Nominates Two Candidates for Election as Directors at the
Forthcoming Annual Meeting of Shareholders
TAUNTON, Mass., April 10, 2003 - Mr. Richard T. Schumacher, founder and
former Chairman and CEO of Boston Biomedica, Inc. (NASDAQ: BBII) today
announced the formation of the Boston Biomedica Shareholders Committee (the
"BBI Committee"). The BBI Committee is an unincorporated association with
a principal place of business c/o Richard T. Schumacher, 65 Black Pond
Lane, Taunton, MA 02780. The following individuals constitute the BBI
Committee: R. Wayne Fritzsche, Russell B. Richerson, Ph.D., and Richard T.
Schumacher.
Mr. Schumacher has nominated Mr. Fritzsche and Dr. Richerson (the
"Nominees") for election as directors of Boston Biomedica, Inc. at the
forthcoming annual meeting of stockholders. The Nominees have agreed to
support Mr. Schumacher's reinstatement as Chief Executive Officer of the
Company on the same terms and conditions as were in effect prior to the
termination of his employment by the Company or on such other reasonable
terms as may be approved by the Board of Directors. Mr. Schumacher has
agreed to indemnify the Nominees against any legal fees they incur in
connection with any claims that may be brought against them related to
their nomination.
"Since my termination on February 13th, I have received calls, letters, and
e-mails from numerous employees, colleagues, customers, vendors, friends,
and family, many of whom are shareholders in BBI," said Mr. Schumacher.
"These individuals have expressed deep disappointment in my termination,
they believe it was not in the best interests of BBI stakeholders, and they
have requested information on how best to reinstate me as CEO. After a
careful review of the various options available, while keeping paramount a
desire to minimize any adverse effects on the ongoing business of the
Company, it became clear that the best option available would be to
nominate two candidates for election to the Board at the forthcoming annual
meeting. These two candidates will run against two candidates yet to be
proposed by the Company. To this end, I am pleased to announce the
nominations of Mr. Fritzsche and Dr. Richerson, two outstanding and well-
respected individuals from the life sciences industry, whose experience and
expertise can, in my opinion, contribute greatly to the current and future
success of BBI."
About Mr. Fritzsche. Mr. R. Wayne Fritzsche, age 54, has been Chief
Executive Officer for Fritzsche & Associates, Inc., a technology and
strategic consulting firm, since 1991. From 1981 to 1991, Mr. Fritzsche
was a partner in the consulting firm of Fritzsche Pambianchi and
Associates. Prior to that, Mr. Fritzsche held executive positions in
strategic planning, corporate development, acquisitions, licensure, and
marketing and sales for such companies as Johnson & Johnson, Hoechst,
Warner Lambert, and Carter Wallace.
Over his career, Mr. Fritzsche has assisted numerous biotechnology and
healthcare companies in various stages of development with technology
assessment, corporate transactions, and capital formation. Mr. Fritzsche
has been part of the founding group of a number of life sciences companies,
including The Immune Response Company (with Dr. Jonas Salk) and Cortex
Pharmaceuticals. Mr. Fritzsche holds a B.S. in chemistry from Glassboro
State College (now Rowan University) and an MBA from the University of San
Diego. Mr. Fritzsche has served as a Board member for a number of
companies and currently serves on the Company's PCT Scientific Advisory
Board.
About Dr. Richerson. Dr. Russell B. Richerson, age 51, was Vice President
of Diagnostics Research and Development for Prometheus Laboratories, Inc.,
a specialty pharmaceutical and diagnostics company, from 2001 to 2002; he
remains a consultant to the company. From 2000 to 2001, Dr. Richerson was
Vice President of Research, Development, and Operations for CellzDirect,
Inc. Prior to that, from 1997 to 2000, Dr. Richerson was Vice President of
Reagent Research and Development for Ventana Medical Systems, Inc., a
supplier of automated diagnostic systems to the pathology market. From
1986 to 1997, Dr. Richerson held various senior management positions of
responsibility in cancer, transfusion, and molecular biology diagnostics at
Abbott Laboratories. From 1984 to 1986, Dr. Richerson was a Research
Director at Pandex Laboratories.
Dr. Richerson's many years of experience in the development of reagents and
equipment for the clinical diagnostics market have involved a wide range of
responsibilities, including leading the efforts to discover and develop
future products as well as identifying and negotiating strategic
partnerships. Dr. Richerson holds a B.S. in medical technology from
Louisiana State University and a Ph.D. in biochemistry from the University
of Texas at Austin. Dr. Richerson has published both manuscripts and abstracts
in peer-reviewed scientific journals. Dr. Richerson currently serves on
the Company's PCT Scientific Advisory Board.
About Mr. Schumacher. Mr. Richard T. Schumacher, age 52, the founder of
Boston Biomedica, Inc., has served as a Director since 1978. He was Chief
Executive Officer and Chairman of the Board from 1992 to February 2003 and
served as President from the Company's inception to August 1999. In
addition to his responsibilities as CEO and Chairman, Mr. Schumacher was
the acting General Manager of BBI Diagnostics (a Boston Biomedica business
unit) from May 2000 to February 2003; he also led the Pressure Cycling
Technology (PCT) Team since the technology was acquired in late 1998. Mr.
Schumacher served as the Director of Infectious Disease Services for
Clinical Sciences Laboratory from 1986 to 1988. From 1972 to 1985, Mr.
Schumacher was employed by the Center for Blood Research, a non-profit
medical research institute associated with Harvard Medical School.
Mr. Schumacher has been an invited lecturer at numerous local, regional,
national, and international meetings. He has published widely in the areas
of infectious diseases and PCT. In 1987, Mr. Schumacher was the recipient
of the AIDS International Research Award from the World Federation of
Contraception and Health. Mr. Schumacher has served on the Board of
several life sciences companies, as well as local and national professional
organizations. Mr. Schumacher holds a B.S. in Zoology from the University
of New Hampshire.
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Information concerning the participants in any solicitation of proxies by
the BBI Committee with respect to the upcoming annual meeting of
stockholders of the Company, and their direct or indirect interests, can be
found in the Schedule 14A filed by the BBI Committee with the SEC on April
10, 2003, pursuant to Rule 14a-12.
A definitive proxy statement meeting the requirements of Securities
Exchange Act Rule 14a-3(a) will be sent or given to security holders before
or at the same time as the forms of proxy are furnished to or requested
from security holders. Security holders should read the proxy statement
when it is available because it will contain important information.
Investors will be able to get the proxy statement, and any other relevant
documents, for free at the Security and Exchange Commission's website. The
proxy statement will be available free from the Boston Biomedica
Shareholders Committee, c/o Richard T. Schumacher, 65 Black Pond Lane,
Taunton, MA 02780, 508-822-2439, BBICommittee@aol.com.
The BBI Committee is responsible for payment of all costs incurred in the
Proxy Contest disclosed in this release. Contributions of up to $500 per
person are welcomed by the BBI Committee to help defray these costs. Some or
all of these costs may eventually be reimbursed by the Company should the
Nominees be elected as Directors. The BBI Committee does not know whether
the question of reimbursement will be submitted to a vote of stockholders,
but it does think that it should be. (1)
Concerned individuals may contact either Mr. Schumacher or the BBI Committee
at 65 Black Pond Lane, Taunton, MA 02780, by telephone at 508-822-2439, by
fax at 508-828-6773, or by e-mail at BBICommittee@aol.com.
(1) This paragraph was not included in the press release sent out on
April 10, 2003.