Encorium Group Signs $6.2M Of New Contracts Mainly For Vaccines Clinical Trials
September 24, 2008
Encorium Group, Inc. , 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, recently announced the signing of $6.2M 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 capabilities in our three primary areas of focus, vaccines, oncology and cardiovascular trials, while expanding into additional therapeutic areas."
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.
SOURCE: Encorium Group, Inc.