PHILADELPHIA, April 3 /PRNewswire-FirstCall/ -- eResearchTechnology, Inc. (eRT), , a leading provider of centralized electrocardiographic (ECG) collection and interpretation services, announced today that it has been awarded $22.8 million in cardiac safety monitoring and services since the last update on February 8. The recent awards drive total bookings for the first quarter of 2006 to $29.9 million.
Highlights of the recent awards include: -- Two program awards from a global top 20 pharmaceutical and an emerging U.S.-based biopharmaceutical company totaling approximately $4.2 million. The number of program awards for the quarter totals three for more than $7.4 million. -- Six Thorough QT studies from two top 20 global drug developers and four U.S.- and Europe-based growing biopharmaceutical organizations totaling approximately $8.5 million. This brings Thorough QT studies awarded for the quarter to eight, totaling approximately $11.0 million.
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.
“The recent awards and overall first quarter performance are indicative of continued strong demand for eRT’s cardiac safety solutions across all phases of clinical development and place eRT on track for year over year bookings growth in 2006,” said Scott Grisanti, executive vice president of business development and chief marketing officer at eRT. “We are pleased that momentum gained in business development efforts during the second half of 2005 has continued in the first quarter of 2006 and look forward to partnering with all segments of the drug development community in the coming quarter to ensure effective cardiac safety services for Thorough QT studies and large scale later phase programs, along with requirements to support routine trials and EDC/clinical data initiatives.”
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, Inc.
Web site: http://www.ert.com/
