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Encorium Group, Inc. Announces New Business Contract Wins of $6.8 Million, Including Two Pivotal Phase III Studies for a Major Asian Technology Company
Date:5/10/2010

WAYNE, Pa., May 10 /PRNewswire-FirstCall/ -- Encorium Group, Inc. (Nasdaq: ENCO), a full service multinational clinical research organization (CRO) conducting studies in over 30 countries for many of the world's leading pharmaceutical and biotechnology companies, today announced that it has recently been awarded $6.8 million of new business awards, primarily consisting of two Phase III studies for a major Asian technology company that is diversifying its operations into the pharmaceutical industry.

Kai Lindevall, Chief Executive Officer, of the Company stated, "This is the most significant break-through to date in our business development efforts in the Asian market.  We are very pleased to have been awarded these landmark studies for this major high-tech company.  To be selected as a preferred provider is the best benchmark we could imagine with which to measure our success in Asia.  In addition, we have recently seen a significant increase in the number of requests for proposals and are seeing signs that the market appears to be regaining some of its pre-recession vibrancy, particularly in the case of small to medium sized biopharmaceutical companies, which are a key market for the Company."

Additionally, Encorium Group announced that its preliminary financial results (unaudited) for the three months ended March 31, 2010 are expected to show a decrease in net revenues of approximately $1.5 million or 34% to $3.0 million as compared to $4.5 million for the three months ended March 31, 2009.
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SOURCE Encorium Group, Inc.
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