Navigation Links
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
Date:1/27/2009

WAYNE, Pa., Jan. 27 /PRNewswire-FirstCall/ -- Encorium Group, Inc. (Nasdaq: ENCO), a full service multinational contract 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 the signing of $3.1 million of new business awards, primarily consisting of an extension of a current U.S. oncology clinical trial with a major global pharmaceutical company to be conducted in the U.S. and Europe. The extension increases the value of the contract from $12.4 million to $14.4 million.

At December 31, 2008, the Company had a backlog of approximately $35 million.

Dr. David Ginsberg, President and CEO of Encorium Group, Inc. stated, "We see this as a great confirmation of our growing success in the field of oncology. Being entrusted to conduct the expansion of this large oncology trial is an important acknowledgment by the trial's sponsor of the high quality of our work. We are proud of the continuous first class performance of our oncology team. Further, the new business awards announced today mitigate any negative impact to our backlog as reported at December 31, 2008 from foreign currency translations, contract terminations and revenue recognized."

About Encorium Group, Inc.

Encorium Group, Inc. is a global clinical research organization specializing in the design and management of complex clinical trials and Patient Registries for the pharmaceutical, biotechnology and medical device industries. The Company's mission is to provide its clients with high quality, full-service support for their biopharmaceutical and medical device development programs. Encorium offers therapeutic expertise, experienced team management and advanced technologies. The Company has drug and biologics development as well as clinical trial experience across a wide variety of therapeutic areas such as infectious diseases, cardiovascular, vaccines, oncology, diabetes endocrinology/metabolism, gene therapy, immunology, neurology, gastroenterology, dermatology, hepatology, women's health and respiratory medicine. Encorium believes that its expertise in the design of complex clinical trials, its therapeutic experience and commitment to excellence, and its application of innovative technologies, offer its clients a means to more quickly and cost effectively move products through the clinical development process. Encorium is headquartered in Wayne, Pennsylvania with its European base of operations in Espoo, Finland. The Company has a geographic footprint that includes over one billion people in North America, Western/Central/Eastern Europe, Scandinavia, and the Baltics.

This press release contains forward-looking statements identified by words such as "estimate," "project," "expect," "intend," "believe," "anticipate" and similar expressions regarding future expectations. Those statements involve risks and uncertainties, and actual results could differ materially from those discussed. Risks and uncertainties that could affect the Company's future operating results and financial condition generally include, without limitation: (i) our success in attracting new business and retaining existing clients and projects; (ii) the size, duration, and timing of clinical trials we are currently managing may change unexpectedly; (iii) the termination, delay or cancellation of clinical trials we are currently managing could cause revenues and cash-on-hand to decline unexpectedly; (iv) the timing difference between our receipt of contract milestone or scheduled payments and our incurring costs to manage these trials; (v) outsourcing trends in the pharmaceutical, biotechnology and medical device industries; (vi) the ability to maintain profit margins in a competitive marketplace; (vii) our ability to attract and retain qualified personnel; (viii) the sensitivity of our business to general economic conditions; (ix) other economic, competitive, governmental and technological factors affecting our operations, markets, products, services and prices; (x) announced awards received from existing and potential customers are not definitive until fully negotiated contracts are executed by the parties; (xi) our backlog may not be indicative of future revenues and may not generate the revenues expected; (xii) our ability to successfully integrate the businesses of Encorium and Remedium Oy which we acquired on November 1, 2006; and (xiii) the performance of the combined business to operate successfully and generate growth. You should not place any undue reliance on these forward-looking statements which speak only as of the date of this press release. Additional information concerning factors that might affect our business or stock price which could cause actual results to materially differ from those in forward-looking statements is contained in Encorium Group's SEC filings, including its Annual Report on Form 10-K for the year ended December 31, 2007 and other periodic reports under the Securities Exchange Act of 1934, as amended, copies of which are available upon request from Encorium Group's investor relations department.


'/>"/>
SOURCE Encorium Group, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Encorium Announces Receipt of Letter from Nasdaq Regarding its Third Quarter 2008 Form 10-Q Filing
2. Encorium Reports Third Quarter 2008 Financial Results
3. Encorium Appoints David Ginsberg President and Chief Executive Officer, Announces Changes to the Board of Directors
4. Intelligroup Secures Multi-Million Dollar COSMOS Implementation with Almac Clinical Services
5. Simcere Pharmaceutical Group Announces Preliminary Full Year Revenue and Earnings
6. Sirius Genomics Announces New Collaboration with UK Critical Care Genomics Group
7. Perceptive Informatics Enters License Agreement With EuroQoL Group to Provide Enhanced Standardization for ePRO Solution
8. Norton & Associates Inc. Adds $3bnUSD Commercial Real Estate Investment P & L Management Holding Group; US Property Portfolio Inc.
9. Health Robotics Announces Partnership in the Peoples Republic of China With The Devon International Group
10. Investor Group Reconfigures Proposed Slate of Replacement Directors for Trinity Biotech
11. Houston LASIK Eye Surgery Expert and Pioneer Jack Holladay, M.D. Joins Influential Group of Eye Surgeons Listed at Trusted LASIK Surgeons
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... Ginkgo Bioworks , a leading organism design company ... as one of the World Economic Forum,s Technology ... companies. Ginkgo Bioworks is engineering biology to manufacture ... the nutrition, health and consumer goods sectors. The ... Fortune 500 companies to design microbes for their ...
(Date:6/24/2016)... Epic Sciences unveiled a liquid biopsy ... PARP inhibitors by targeting homologous recombination deficiency (HRD) ... test has already been incorporated into numerous clinical ... Over 230 clinical trials are investigating ... PARP, ATM, ATR, DNA-PK and WEE-1. Drugs targeting ...
(Date:6/24/2016)... Raleigh, NC (PRWEB) , ... June 24, 2016 , ... ... find the most commonly-identified miRNAs in people with peritoneal or pleural mesothelioma. Their findings ... here to read it now. , Diagnostic biomarkers are signposts in the blood, ...
(Date:6/23/2016)... ... June 23, 2016 , ... UAS ... the launch of their brand, UP4™ Probiotics, into Target stores nationwide. The company, ... proud to add Target to its list of well-respected retailers. This list includes ...
Breaking Biology Technology:
(Date:4/15/2016)... -- Research and Markets has announced the ...  report to their offering.  ,      ... gait biometrics market is expected to grow at ... Gait analysis generates multiple variables such ... compute factors that are not or cannot be ...
(Date:4/13/2016)... CHICAGO , April 13, 2016  IMPOWER physicians ... are setting a new clinical standard in telehealth ... By leveraging the higi platform, IMPOWER patients can ... weight, pulse and body mass index, and, when they ... quick and convenient visit to a local retail location ...
(Date:3/31/2016)... PROVIDENCE, R.I. , March 31, 2016  Genomics ... leadership of founding CEO, Barrett Bready , M.D., ... addition, members of the original technical leadership team, including ... Vice President of Product Development, Steve Nurnberg and Vice ... have returned to the company. Dr. Bready ...
Breaking Biology News(10 mins):