PHILADELPHIA, Jan. 5 /PRNewswire-FirstCall/ -- eResearchTechnology, Inc. (eRT), , a leading provider of centralized electrocardiographic (ECG) collection and interpretation services, announced today that it has received agreements for approximately $1.7 million in cardiac safety monitoring and services from a top 10 global pharmaceutical organization and a growing multi-national for two drug candidates in clinical development.
The agreements cover two extensive Phase I studies for which eRT is providing comprehensive support including the provision, training and ongoing assistance required for effective use 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 workflow enabled data handling technology, the first solution in production that was designed explicitly to meet emerging international regulatory guidance and technical standards.
The study awarded by the top 10 global pharmaceutical is targeted for completion over a 90-day period and represents the first Thorough Phase I study to be conducted with this leading pharmaceutical company. Pharmaceutical companies of this size and scope of pipeline may require as many as eight to twelve such studies over the next 24 months to address the regulatory requirements for drugs to be submitted for approval during this period of time. The agreement with the growing multi-national pharmaceutical represents a significant extension to an existing $1 million award secured in November 2003.
“eRT is delighted to have been awarded these studies, which represent important steps in the clinical development of key compounds for these sponsors,” said Scott Grisanti, senior vice president of business development and chief marketing officer at eRT. “We are grateful for the opportunity to share eRT’s extensive experience in the planning and conduct of Thorough Phase I ECG studies to help ensure success of these important 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. 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 of eResearchTechnology, Inc., +1-908-203-6473;Matt Hayden of Hayden Communications, +1-760-487-1137, foreResearchTechnology, Inc.
Web site: http://www.ert.com/