NIAID Specimen Repository Contract Awarded to Precision for Medicine for $23.9M
Contract Overview
Contract Amount: $23,916,055 ($23.9M)
Contractor: Precision for Medicine, Inc.
Awarding Agency: Department of Health and Human Services
Start Date: 2014-09-26
End Date: 2021-09-29
Contract Duration: 2,560 days
Daily Burn Rate: $9.3K/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 2
Pricing Type: COST PLUS AWARD FEE
Sector: R&D
Official Description: IGF::OT::IGF NIAID SPECIMEN REPOSITORY
Place of Performance
Location: FREDERICK, FREDERICK County, MARYLAND, 21701
State: Maryland Government Spending
Plain-Language Summary
Department of Health and Human Services obligated $23.9 million to PRECISION FOR MEDICINE, INC. for work described as: IGF::OT::IGF NIAID SPECIMEN REPOSITORY Key points: 1. Contract value of $23.9M for specimen repository services. 2. Awarded via full and open competition. 3. Potential risk associated with long contract duration (2560 days). 4. Sector is R&D, specifically life sciences.
Value Assessment
Rating: good
The contract value of $23.9M appears reasonable for a specimen repository over its duration, considering the specialized nature of the services. Benchmarking against similar NIH contracts for repository services would provide a more precise assessment.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded through full and open competition, suggesting a robust price discovery process. This method generally leads to more competitive pricing as multiple vendors had the opportunity to bid.
Taxpayer Impact: Full and open competition likely resulted in a fair price, maximizing taxpayer value for the essential specimen repository services.
Public Impact
Supports critical NIH research by maintaining a specimen repository. Ensures availability of biological samples for scientific study. Long-term contract may indicate ongoing need for these services.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Long contract duration (2560 days) could lead to cost inefficiencies if not managed well.
Positive Signals
- Awarded through full and open competition.
- Supports vital scientific research.
Sector Analysis
The contract falls within the Research and Development sector, specifically focusing on life sciences. Spending in this area is crucial for scientific advancement and public health initiatives, with significant government investment.
Small Business Impact
The data does not indicate whether small businesses were involved in this contract, either as prime contractors or subcontractors. Further analysis would be needed to assess small business participation.
Oversight & Accountability
The contract is managed by the National Institutes of Health (NIH), a component of HHS. Standard contract oversight mechanisms would apply, but specific details on oversight effectiveness are not provided.
Related Government Programs
- Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology)
- Department of Health and Human Services Contracting
- National Institutes of Health Programs
Risk Flags
- Long contract duration (2560 days)
- Cost Plus Award Fee contract type may lead to higher costs
- Lack of specific small business participation data
Tags
research-and-development-in-the-physical, department-of-health-and-human-services, md, definitive-contract, 10m-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of Health and Human Services awarded $23.9 million to PRECISION FOR MEDICINE, INC.. IGF::OT::IGF NIAID SPECIMEN REPOSITORY
Who is the contractor on this award?
The obligated recipient is PRECISION FOR MEDICINE, INC..
Which agency awarded this contract?
Awarding agency: Department of Health and Human Services (National Institutes of Health).
What is the total obligated amount?
The obligated amount is $23.9 million.
What is the period of performance?
Start: 2014-09-26. End: 2021-09-29.
What is the specific nature of the 'specimen repository' services and how do they contribute to NIH's mission?
Specimen repository services involve the collection, processing, storage, and management of biological samples for research purposes. These samples are crucial for various NIH-funded studies, enabling scientists to investigate diseases, develop treatments, and advance public health. The repository ensures the integrity and accessibility of these valuable research assets over time.
Are there any risks associated with the long contract duration of 2560 days for specimen repository services?
A long contract duration, such as 2560 days (approximately 7 years), can present risks including potential cost inefficiencies if market prices decrease or if the scope of work becomes outdated. It also ties up significant funding for an extended period. However, it can also provide stability and ensure continuity of critical services, which may be beneficial for long-term research projects.
How does the 'Cost Plus Award Fee' contract type impact the overall value and effectiveness of this specimen repository service?
Cost Plus Award Fee (CPAF) contracts allow the contractor to recover allowable costs plus an award fee based on performance against stated criteria. This structure incentivizes high performance but can lead to higher overall costs compared to fixed-price contracts if not carefully managed. The effectiveness hinges on well-defined performance metrics and rigorous oversight to ensure value for taxpayer money.
Industry Classification
NAICS: Professional, Scientific, and Technical Services › Scientific Research and Development Services › Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology)
Product/Service Code: RESEARCH AND DEVELOPMENT › N – Health R&D Services
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION
Solicitation Procedures: NEGOTIATED PROPOSAL/QUOTE
Offers Received: 2
Pricing Type: COST PLUS AWARD FEE (R)
Evaluated Preference: NONE
Contractor Details
Parent Company: Precision Bioservices Inc.
Address: 8425 PRECISION WAY UNIT M, FREDERICK, MD, 21701
Business Categories: Category Business, Corporate Entity Not Tax Exempt, Small Business, Special Designations, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $27,565,257
Exercised Options: $23,916,055
Current Obligation: $23,916,055
Actual Outlays: $1,133,753
Contract Characteristics
Commercial Item: COMMERCIAL ITEM PROCEDURES NOT USED
Cost or Pricing Data: NO
Timeline
Start Date: 2014-09-26
Current End Date: 2021-09-29
Potential End Date: 2021-09-29 00:00:00
Last Modified: 2022-05-31
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