Implicit Bioscience Needed DCAA-Compliant ERP Solution to Meet Contract Requirements to Develop Drug to Combat Biodefense Threats

Reston, VA (January 10, 2008) – Pleasant Valley Business Solutions (PVBS), Microsoft’s leading provider of government contractor ERP, financial management and project accounting solutions, announced that its Microsoft Dynamics NAV for Government Contractors solution has been chosen by Implicit Biosciences (Implicit) to support its drug development contracts with the US Defense Threat Reduction Agency (DTRA). In October 2007, Implicit announced that it won a $16 million contract with DTRA to develop its clinical stage drug oglufanide disodium as a broad spectrum therapeutic for the treatment of a number of intracellular bacterial diseases.

Daniel Parry, Chief Financial Officer at Implicit, said that the contract was awarded through the DTRA 2007 Transformational Medical Technologies Initiative (TMTI) program. The TMTI mission is to protect the war fighter from conventional or genetically engineered biological threats, known or emergent, by accelerating the seamless discovery and development of broad spectrum medical countermeasures through the use of novel technology platforms and innovative management approaches. Among other things, DTRA strives to reduce the availability and effectiveness of WMD on the U.S. armed forces. DTRA combats WMD in partnership with the military services, combatant commands, other DoD components, and government agencies, including the Departments of Homeland Security, Energy and State, and the Federal Bureau of Investigation.

“With our new US Government contract, we needed to be in compliance with the FAR (Federal Acquisition Regulations). We also needed an ERP system that would help us manage our core biotech business. That drove our decision to go with Microsoft Dynamics NAV for Government Contractors from PVBS,” said Parry.

“We found that PVBS has a great deal of expertise on government contractor requirements and is associated with a larger network of experts on US Government contracting and related accounting compliance issues.  Implementing the PVBS solution helps us to achieve our compliance objectives,” said Parry.

Bernard Mustafa, CEO and President at PVBS said government contractors from around the globe, such as Implicit, are attracted to the company’s solution. “Dynamics NAV is the only software solution that is fully functional for government contractors that either sell products, provide services, or both to the Federal Government. Most of the products on the market can only do one or the other.”

Mustafa also said that the nature of the services or products sold does not matter. “Implicit provides a critical service to the US Government, as do most of our clients. Many hold contracts with the Defense and Intelligence agencies and many service Civilian agencies. For companies that offer services to the government, the solution is fully DCAA (Defense Contract Audit Agency) compliant and can support any type of contract the company may have, such as fixed price, cost plus or time and materials.” said Mustafa.

About Implicit Bioscience

Implicit Bioscience is a privately-funded development stage biopharmaceutical company with operations in Brisbane, Australia and Seattle, Washington. The company has major strengths in immunology, peptide chemistry and drug development, and is focused on the identification and development of new therapies for infectious disease. Its Chief Scientific Officer, Ian Frazer, was named 2006 Australian of the Year for his work in developing a vaccine for human papillomavirus. Implicit is pleased to acknowledge the support of Queensland government’s teQstart Pty Ltd, which provides key early-stage investment for the state’s high technology and biotechnology companies.

About Pleasant Valley Business Solutions (PVBS)

Pleasant Valley Business Solutions (PVBS), a “Microsoft Business Solutions President’s Club Member 2007,” offers the Microsoft alternative for government contractor ERP, financial management and project accounting. Microsoft offers a better project accounting and financial management solution than what’s been available in the past to high-growth government contractors. Only PVBS offers a Microsoft Dynamics NAV solution that was created specifically for high-growth government contractors, to help these companies better manage and maximize their Federal Government business. PVBS is based in Reston, VA. Visit PVBS at www.pvbs.net.

©2008 Pleasant Valley Business Solutions, LLC. All rights reserved. All trademarks and company names mentioned are the property of their respective owners.