WATERTOWN, Mass., March 25 Boston Biomedical ResearchInstitute (BBRI) in Watertown, Massachusetts, was once again given a Baa3 bondrating with a stable outlook by Moody's Investor Services, affirming theInstitute's financial stability in an era of declining NIH funding within anoverall precarious economy that have left some similar organizationsstruggling to survive. "We are pleased with this confirmation of our financialhealth," says BBRI Director and Senior Staff Scientist Charlie Emerson, whoadds that the Institute's research efforts continue to be robust and growing.
Boston Biomedical Research Institute is an independent, non-profitresearch institution devoted to increasing understanding of the causes,prevention and treatment of such diseases as heart disease, cancer, musculardystrophy and Alzheimer's. Researchers at BBRI look at theses diseases at thebiochemical and cellular level to unravel the mysteries of these diseases attheir most rudimentary.
Moody's Investor Services, which is one of the two foremost credit ratingorganizations in the US, reported that: "The stable outlook reflects ourexpectation that BBRI's management is focused on containment of operatingexpenses and generation of new revenue streams in light of slowed federalresearch funding. We believe that the Institute's largely unrestrictedfinancial resource base provides a good cushion for near-term operatingpressure." The report added that " ... debt service reserve fund, securityinterest in gross receipts, and the first mortgage on the research facilityprovide some additional bondholder security."
According to Dr. Emerson, "Our commitment to diversify our streams ofrevenue is reflected in the hiring of a new director of advancement and in ourdecision to enhance board support, increase submissions to privatefoundations, increase planned giving, and pursue potential state funding, aspossible supplemental funding resources."
Among the Institute's scientific breakthroughs have been research thatpaved the way for the Troponin Assay, one of the standard tests now used byphysicians to determine whether a person is having a heart attack andHyaluronan, essential for eye surgeries and widely used in the treatment ofosteoarthritis. Hyaluronan, a carbohydrate polymer that can be injecteddirectly into osteoarthritic joints, may help augment the joint's naturalfluids, increasing mobility and shock absorbency.
Founded in 1968, Boston Biomedical Research Institute is a not-for-profitbasic research institute dedicated to the understanding, treatment andprevention of a wide range of human diseases and conditions. For moreinformation visit http://www.bbri.org.
SOURCE Boston Biomedical Research Institute