PHILADELPHIA, Oct. 26 /PRNewswire-FirstCall/ -- eResearchTechnology, Inc. (eRT), , a leading provider of centralized electrocardiographic (ECG) collection and interpretation services, announced today that it has been awarded more than $10.7 million in cardiac safety monitoring and services to date in October 2005.
Highlights of the awards include: -- Two later phase program extensions from a top-10 global pharmaceutical company totaling approximately $6.5 million and comprising a number of studies with global investigator networks. -- A large Phase III study from a top-10 global pharmaceutical company valued at more than $1.1 million. -- A Thorough QT study totaling more than $1.4 million sponsored by a top-15 global pharmaceutical company.
eRT will provide comprehensive support, including provision of digital 12- lead ECG equipment designed to facilitate collection of cardiac safety data that is subsequently provided to eRT for analysis. eRT will perform digital collection, measurement, interpretation, review, and distribution of cardiac safety data through its EXPeRT(R) workflow enabled data handling technology, the first solution in production that was designed explicitly to meet emerging international regulatory guidance and technical standards.
“Early fourth quarter signings in the initial weeks of October indicate continued momentum from the record signings level totaling approximately $32 million in the third quarter and provide greater visibility to 2006 revenues,” said Scott Grisanti, senior vice president of business development and chief marketing officer at eRT. “These awards demonstrate eRT’s strength in two very distinct and highly demanding market segments. Significant program extensions and later phase study awards illustrate the confidence that the drug development community places in eRT to scale services required to support massively distributed studies designed to effectively characterize cardiac effect of new compounds in target patient populations. Thorough QT studies require eRT’s unmatched capacity and throughput, along with the ability to provide a range of related services from on-site support at a sponsor’s selected Clinical Pharmacology Unit, to scientific and regulatory consulting services.”
Based in Philadelphia, PA, eResearchTechnology, Inc. (http://www.eRT.com) is a provider of technology and services to the pharmaceutical, biotechnology and medical device industries on a global basis. The company is a market leader in providing centralized core-diagnostic electrocardiographic (ECG) technology and services to evaluate cardiac safety in clinical development. The company is also a leader in providing technology and services to streamline the clinical trials process by enabling its customers to automate the collection, analysis, and distribution of clinical data in all phases of clinical development.
Statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand, and the company’s ability to obtain new contracts and accurately estimate net revenues due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. The sponsors may cancel these agreements at their sole discretion. As a result, actual results may differ materially from any financial outlooks stated herein. Further information on potential factors that could affect the company’s financial results can be found in the company’s Reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission.
eResearchTechnology, Inc.
CONTACT: Joan Sterlacci, eResearchTechnology, Inc., +1-908-203-6473; orMatt Hayden, Hayden Communications, +1-858-704-5065, foreResearchTechnology
Web site: http://www.ert.com/
