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Encorium Group Signs $6.2 Million of New Contracts Mainly for Vaccines Clinical Trials
Date:9/22/2008

Approximately $20 Million of New Business Contracts Announced During the

Past Ten Weeks

WAYNE, Penn., Sept. 22 /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 $6.2 million of new business contracts, primarily consisting of vaccine clinical trials with a major global biopharmaceutical company to be conducted in multiple European countries. Revenue recognition will begin in the fourth quarter of 2008 with the remainder expected to occur on a proportional basis as services are performed on each project.

David Ginsberg, DO, Encorium Group's new President and Chief Executive Officer, stated, "We are delighted to have become a significant partner to this global pharmaceutical company in their vaccines development. Encorium is currently a leading CRO, when it comes to the experience and expertise in the clinical development of pediatric vaccines. I am very proud of our excellent people, who are the key to this kind of repeat business. Vaccine development will continue to be key area of focus for Encorium in the future."

Kai Lindevall, M.D., Ph.D., Encorium's Executive Chairman, commented, "We are very encouraged by the volume of new contracts we have been able to sign during the last 10 weeks. Most of these wins relate to our European operations, but we are currently strengthening our business development efforts in the U.S. and expect to achieve results from this effort early next year. We will continue to strengthen our ca
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SOURCE Encorium Group, Inc.
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