East Resources Acquisition (NASDAQ:ERES)
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Top 10 Global Pharmaceutical Company Awards $4.6 Million in
Studies to eResearchTechnology for Cardiac Safety Monitoring and Information
Distribution Services
Agreements Extend Franchise Commitment
PHILADELPHIA, Dec. 23 /PRNewswire-FirstCall/ -- eResearchTechnology, Inc.
(eRT), (NASDAQ:ERES), a leading provider of centralized electrocardiographic
(ECG) collection and interpretation services, announced today that it has been
awarded approximately $4.6 million in cardiac safety monitoring and services
from a top 10 global pharmaceutical organization for one of its key drug
candidates in late phase clinical trials extending the franchise agreement
signed in September 2003 by $1.6 million.
The award covers two Phase III studies, for which eRT will provide
comprehensive support, including provision of approximately 600 units 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.
"With sites distributed across five continents, the trials represented by these
significant agreements illustrate industry best practice for digital
collection, processing and analysis of cardiac safety data in studies involving
significant target patient populations," said Scott Grisanti, senior vice
president of business development and chief marketing officer at eRT. "Recent
industry events concerning cardiac safety of compounds already approved for
marketing are instructive as to the significant role of effective cardiac
safety monitoring across all phases of clinical development."
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 sponsor may cancel this agreement at its 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.
DATASOURCE: eResearchTechnology, Inc.
CONTACT: Joan Sterlacci of eResearchTechnology, Inc., +1-908-203-6473;
or Matt Hayden, Hayden Communications, +1-858-456-4533, for
eResearchTechnology
Web site: http://www.ert.com/