BIO group calls on NYSE to reject "terrorism" threat to Life Sciences Research listing

By Ronda Fears

Nashville, Sept. 14 - Following the New York Stock Exchange's postponement of the listing of Life Sciences Research Inc. last week, the international industry group Biotechnology Industry Organization has stepped in on behalf of the contract research firm, asserting the NYSE decision was an apparent reaction to threats from "animal rights terrorists."

NYSE spokesman Christiaan Brakman on Wednesday would only confirm to Prospect News that the listing had been postponed.

BIO president and chief executive Jim Greenwood this week issued a letter to John Thain, NYSE chairman, and Catherine Kinney, NYSE president, asking them to reconsider their decision.

The animal-testing company Life Sciences Research owns Huntingdon Life Sciences of the U.K., which has long been the target of animal-rights groups.

In Greenwood's letter it was stated that "BIO is disappointed in this reaction to threats from terrorists," the group said in a press release. Other key points, the group said, was that the postponement of the listing "suggests biomedical research has taken a backseat to pressure tactics from extremists."

BIO pointed out that "ethical animal research has been vital to virtually every major medical advance of the last century."

BIO represents more than 1,100 biotech firms, academic institutions, state biotech centers and related organizations across the United States and 31 other nations.

On Sept. 7, the day when Life Sciences Research shares were to begin trading on the NYSE, the company announced its listing was postponed at the request of the NYSE, which had approved its application on Aug. 22.

Meanwhile, Life Sciences Research shares continue to trade over the counter on the Nasdaq.

Based in East Millstone, N.J., the company operates as a contract research organization that tests for pharmaceutical, biotechnology, agrochemical and industrial chemical companies through its subsidiaries. The company's focus is to identify risks to humans, animals or the environment from the use or manufacture of chemicals.

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