WAYNE, Pa.--(BUSINESS WIRE)--Encorium Group, Inc. (Nasdaq: ENCO) today announced the signing of a contract for $5.1 million with an innovative biotechnology company for a Phase 2 clinical trial to be conducted by Encorium in conjunction with our South American partner Estudios Clínicos Latino América (ECLA). The contract amount includes $170,000 payable under a letter of intent that was announced previously. The current trial will assess the efficacy and safety of multiple doses of a new anti-thrombotic agent in an at-risk patient population with cardiovascular disease. Encorium will provide full service support, including consulting on trial design and protocol development, project and study site management and monitoring, data management, biostatistical analysis, safety monitoring, and medical writing. Revenues will be recognized as services are performed on a proportional performance basis over the life of the contract, beginning in the current third quarter.
