Navigation Links
Encorium Group Completes Sale of its U.S. Business to Pierrel Research USA; Announces Management Changes
Date:7/17/2009

WAYNE, Pa., July 17 /PRNewswire-FirstCall/ -- Encorium Group, Inc. (Nasdaq: ENCO), a full service multinational clinical research organization (CRO) that provides design, development, and management capabilities for clinical trials and patient registries to many of the world's leading pharmaceutical companies, today announced that is has completed the previously announced sale of the Company's U.S. business to Pierrel Research USA, Inc., a wholly-owned subsidiary of Pierrel SpA, an international contract research organization listed on Milano's Stock Exchange. The purchase price was $2.7 million, comprised of $80,000 in cash as well as the assumption of $2.6 million in liabilities.

In connection with the consummation of the sale, Pierrel Research USA has entered into a lease with the landlord of the Company's U.S. headquarters in Wayne, Pennsylvania, pursuant to which the landlord has agreed to release the Company from its remaining lease obligations of approximately $3.4 million for a termination fee of $235,000.

As of the closing of the transaction, Dr. David Ginsberg, Chief Executive Officer of the Company, has joined Pierrel Research USA as its Chief Executive Officer. In addition, Pierrel has extended employment to substantially all of Encorium's U.S. employees. As a result, Pierrel expects that the U.S. operations will continue largely unchanged and that it will be able to seamlessly continue to deliver the services our customers depend on. Encorium has obtained authorizations from its affected customers allowing the Company to transfer the provision of services to Pierrel.

Dr. Kai Lindevall, Chairman of the Board and President of Europe and Asia, commented, "We believe that the sale of our U.S. business to Pierrell, a well respected international contact research organ
'/>"/>

SOURCE Encorium Group, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related biology technology :

1. Encorium Group Updates Expected Timeframe with Respect to the Sale of its U.S. Business
2. Professor Hanna Nohynek Joins Encorium as Head Consultant of its Clinical Vaccine Research Team
3. Encorium Named as Finalist for the Second Annual Vaccine Industry Excellence Award
4. Encorium Group Signs Approximately $2.0 Million of New Business Contracts
5. Encorium Group Signs $3.1 Million of New Business Contracts Including an Extension of a Current U.S. Oncology Clinical Trial with a Major Pharmaceutical Company
6. Encorium Announces Receipt of Letter from Nasdaq Regarding its Third Quarter 2008 Form 10-Q Filing
7. Encorium Reports Third Quarter 2008 Financial Results
8. Encorium Appoints David Ginsberg President and Chief Executive Officer, Announces Changes to the Board of Directors
9. Simcere Pharmaceutical Group Notice of Annual General Meeting
10. Stem Cell Cord Blood Banking Is Huge Global Business for Hospitals, Says CEO of Bio-Matrix Scientific Group Inc.
11. Burnham Institute for Medical Research and Magellan BioScience Group, Inc. Announce Drug Discovery Collaboration
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/10/2014)... of Adelaide research may help in the fight against ... detect tiny quantities of explosives with the use of ... journal Sensors and Actuators B: Chemical , the ... detect explosives in concentrations as low as 6.3 ppm ... only a few minutes. , "Traditionally explosives detection has ...
(Date:7/10/2014)... been extremely challenging because there are many genetic variants ... disease. Now investigators reporting in the July 3rd issue ... describe a strategy that may help reveal how ... or environmental exposures to affect the development of the ... may predispose individuals to schizophrenia. , The work ...
(Date:7/10/2014)... upside down forever. Nanophysics makes sure of that. Mechanics researchers ... published in Physical Review E . Knowledge that can ... seem to be able to sit still forever, and walk ... We will soon be able to buy smart new fasteners ... the fact is, sooner or later the grip is lost, ...
(Date:7/10/2014)... new alliance will see the two universities and NPL ... with business and industry and their complementary academic strengths., ... help to shape the scientific priorities of the UK. ... up to 300 high-calibre PhD students, will provide a ... NPL, the potential of the Laboratory will be grown ...
Breaking Biology Technology:Detecting trace amounts of explosives with light 2New strategy could uncover genes at the root of psychiatric illnesses 2Even geckos can lose their grip 2Universities of Surrey and Strathclyde selected as strategic partners in the future operation of the National Physical Laboratory 2Universities of Surrey and Strathclyde selected as strategic partners in the future operation of the National Physical Laboratory 3
... Feb. 6 Thermo Fisher,Scientific Inc. (NYSE: TMO ... increased to a record $2.62 billion in the fourth ... 2006 merger with Fisher,Scientific), compared with $1.67 billion in ... $.54 in 2007, versus $0.08 in the year-ago,period. GAAP ...
... for detecting explosives and poisons could,be developed following new ... today (3 February) in Nature Photonics. , The ... far,infrared part of the electromagnetic spectrum that have a ... along the surface of a,specially designed material, known as ...
... Quest Executive Director Brings Extensive Strategic Marketing ... ... Transgenomic, Inc. (OTC,Bulletin Board: TBIO), today announced that it has appointed ... a consultant,at Water Street Healthcare Partners, a Chicago-based private equity firm,specializing ...
Cached Biology Technology:Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 2Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 3Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 4Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 5Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 6Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 7Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 8Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 9Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 10Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 11Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 12Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 13Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 14Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 15Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 16Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 17Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 18Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 19Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 20Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 21Thermo Fisher Scientific Reports Record 2007 Fourth Quarter Revenues and Operating Performance; Provides Guidance for 2008 22'T-ray' breakthrough signals next generation of security sensors 2Transgenomic Appoints David Pauluzzi to Board of Directors 2Transgenomic Appoints David Pauluzzi to Board of Directors 3
(Date:7/11/2014)... The Mills Canyon fire started near the City of ... of local resources, the fire quickly grew to over ... cause of the fire is under investigation by the ... is working with existing local resources in developing fire ... Forest Service (USFS), Washington State Department of Natural Resources, ...
(Date:7/11/2014)... the National Institute of Standards and Technology (NIST) ... more effectively, they often prove that necessity is ... case recently for M. Lorna De Leoz and ... specialization of glycomics. Glycomics is the study of ... are attached to proteins and lipids and influence ...
(Date:7/11/2014)... Sweden, have explored two different ways that allow ... to the formation of oxygen molecules in photosynthesis. ... scientific journal Nature Communications . , "The ... catalysts for water oxidation, which are key components ... storage of solar energy in fuels like hydrogen, ...
Breaking Biology News(10 mins):Molecular snapshots of oxygen formation in photosynthesis 2
... This news release is available in German . ... like father, like son. Evolutionary biologists at the universities in Bielefeld ... applies to inheriting a long life at least for fruit ... of these insects mostly inherit their lifespan from their own sex: ...
... WASHINGTON , Sept. 13, 2013  LaserLock Technologies ... and persons, announced today that it has filed ... of Independent Authentication Mechanisms". The system authenticates human ... simple user experience and a higher degree of ...
... emissions, which are projected to set the global mean ... expose 668 million people worldwide to new or aggravated ... study published today, 13 September, in IOP Publishing,s journal ... a further 11 per cent of the world,s population, ...
Cached Biology News:Inheritance of lifespan is sex-dependent in fruit flies 2LaserLock Technologies Files A New Provisional Patent Which Secures Player Identity On Internet Gaming Platforms 2LaserLock Technologies Files A New Provisional Patent Which Secures Player Identity On Internet Gaming Platforms 3Current pledges put over 600 million people at risk of higher water scarcity 2
... Immunogen corresponds to amino acids 2-105 from ... been successfully used in Western blot, immunocytochemistry ... this antibody detects an ~ 60 kDa ... also been used in immunoprecipitation and immunocytochemical ...
Caspr2 Antigen: Fusion protein amino acids 96-1265 (extracellular domain) of human Caspr2 Accession Number: NP_054860...
... a new tuning and calibration standard for ... Accumix is a lyophilized 7-peptide standard ... both tuning and calibration of ion trap ... transform mass spectrometers. Direct infusion of ...
... White crystalline solid. HYGROSCOPIC. Water-soluble zwitterionic detergent ... 252005) but differing in the length of ... extraction of mycoplasma membrane antigens under mild ... TLC. Soluble in H 2 O. ...
Biology Products: