Yes, depending upon the encoding of the data, you can use System.Text encoding utilities. Following assumes the ASCII encoding.

Code:
using System;
using System.Text;

public class Me
{
	public static void Main(string[] args)
	{
		byte[] bdata = new byte[] {0x30, 0x31, 0x32, 0x01, 0x39}; // some gibberish in the middle
		string str = Encoding.ASCII.GetString(bdata);
		Console.WriteLine(str);
	}
}
The encoding ignores the unprintable characters.