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Encorium Group, Inc. Acquires Progenitor International Research, a Vaccine Focused Emerging Market CRO
Date:7/19/2010

WAYNE, Pa., July 19 /PRNewswire-FirstCall/ -- Encorium Group, Inc. (Nasdaq: ENCO), (the "Company") 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 acquired Progenitor Holdings AG, a corporation organized in Switzerland and its wholly-owned subsidiaries organized in Mexico, Panama, Argentina, Chile, Switzerland, India and Hong Kong for cash and stock valued at EURO 1.7 million, plus earn-out consideration of cash and stock with a value of up to EURO 1.5 million.  

Progenitor is a European headquartered emerging market clinical research organization providing international drug development services in emerging market regions.  Progenitor brings value and quality to its clients' clinical trial programs by offering emerging market geography together with experienced clinical staff in those regions.  

Executive Officer, Dr. Kai Lindevall said, "We are very pleased and proud to announce this transaction.  Progenitor is a prestigious emerging market company in the field of clinical research.  The acquisition of Progenitor will allow us to offer our clients access to the value of conducting clinical trials in emerging markets such as Latin America, '/>"/>

SOURCE Encorium Group, Inc.
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