PHILADELPHIA, Jan. 4 /PRNewswire-FirstCall/ -- eResearchTechnology, Inc. (eRT), , a leading provider of centralized electrocardiographic (ECG) collection and interpretation services, announced today that it has been awarded approximately $8.0 million in cardiac safety monitoring services since the last update on December 20, 2005. The recent awards drive total new bookings for the fourth quarter 2005 to a record $39.7 million.
Highlights of the awards include: -- Two Thorough QT studies totaling more than $3 million from two emerging biopharmaceutical organizations. This brings the number of Thorough QT studies for the quarter to 10, totaling approximately $13.5 million. -- A later phase program award valued at approximately $1.8 million from a Top 15 global pharmaceutical company. The number of program awards totals six valued at approximately $13.7 million for the quarter. -- Continued strength in new routine studies in existing customers as well as new studies in first-time customers.
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.
“Continued significant activity through the conclusion of 2005 extends eRT’s record bookings for the second consecutive quarter and indicates that the sponsor community has worked through year-end to secure the cardiac safety services critical to successful drug development programs,” said Scott Grisanti, senior vice president of business development and chief marketing officer at eRT. “It is significant to note that the majority of the signing since the December 20 announcement continued to occur in the important Thorough QT Study and later phase program segments. Momentum in these key areas, along with routine run rate business, positions eRT for year over year bookings growth in 2006.”
The company will provide a status on the bookings for the first quarter of 2006, when financial results for the fourth quarter and total year 2005 are announced in February 2006.
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
Web site: http://www.ert.com/
