PHILADELPHIA, Feb. 8 /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 $7.1 million in cardiac safety monitoring and services to date in 2006.
Highlights of the awards include: - A later phase program award from a growing European biopharmaceutical totaling more than $3.2 million. - Thorough QT studies from two emerging U.S.-based drug developers totaling more than $2.5 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.
"These signings in the early weeks of 2006 along with $8.0 million signed at the end of December, are strong evidence of important trends in our industry toward effective planning and scheduling of Thorough QT studies for virtually all new compounds in development and significant monitoring of cardiac safety in subsequent later phase programs," said Scott Grisanti, executive vice president of business development and chief marketing officer at eRT. "We expect a continued positive trend throughout 2006 in both these market segments, and we are ensuring the continued ability to scale the entire eRT organization to meet the growing demand created by recent events, including the finalization of ICH, E14."
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/
