WATERTOWN, Mass., March 25 /PRNewswire/ -- Boston Biomedical Research Institute (BBRI) in Watertown, Massachusetts, was once again given a Baa3 bond rating with a stable outlook by Moody's Investor Services, affirming the Institute's financial stability in an era of declining NIH funding within an overall precarious economy that have left some similar organizations struggling to survive. "We are pleased with this confirmation of our financial health," says BBRI Director and Senior Staff Scientist Charlie Emerson, who adds that the Institute's research efforts continue to be robust and growing.
Boston Biomedical Research Institute is an independent, non-profit research institution devoted to increasing understanding of the causes, prevention and treatment of such diseases as heart disease, cancer, muscular dystrophy and Alzheimer's. Researchers at BBRI look at theses diseases at the biochemical and cellular level to unravel the mysteries of these diseases at their most rudimentary.
Moody's Investor Services, which is one of the two foremost credit rating organizations in the US, reported that: "The stable outlook reflects our expectation that BBRI's management is focused on containment of operating expenses and generation of new revenue streams in light of slowed federal research funding. We believe that the Institute's largely unrestricted financial resource base provides a good cushion for near-term operating pressure." The report added that " ... debt service reserve fund, security interest in gross receipts, and the first mortgage on the research facility provide some additional bondholder security."
According to Dr. Emerson, "Our commitment to diversify our streams of revenue is reflected in the hiring of a new director of advancement and in our decision to enhance board support, increase submissions to private foundations, increase planned giving, and pursue potential state funding, as possible supplemental funding resources."
Among the Institute's scientific breakthroughs have been research that paved the way for the Troponin Assay, one of the standard tests now used by physicians to determine whether a person is having a heart attack and Hyaluronan, essential for eye surgeries and widely used in the treatment of osteoarthritis. Hyaluronan, a carbohydrate polymer that can be injected directly into osteoarthritic joints, may help augment the joint's natural fluids, increasing mobility and shock absorbency.
Founded in 1968, Boston Biomedical Research Institute is a not-for-profit basic research institute dedicated to the understanding, treatment and prevention of a wide range of human diseases and conditions. For more information visit http://www.bbri.org.
|SOURCE Boston Biomedical Research Institute|
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