East Resources Acquisition (NASDAQ:ERES)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more East Resources Acquisition Charts. Click Here for more East Resources Acquisition Charts.](/p.php?pid=staticchart&s=N%5EERES&p=8&t=15)
eResearchTechnology Announces $13.5 Million in July Study Awards
for Cardiac Safety Monitoring and Information Distribution Services
Early Third Quarter Visibility to Significant Sponsor Commitments Indicates
Increased Traction, Including Two Program Awards and Two Thorough QT Studies
PHILADELPHIA, July 27 /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 more than $13.5 million in cardiac safety monitoring and services to
date in July 2005.
Highlights of these collective awards include:
-- Two later phase programs from a top 10 global pharmaceutical company
totaling more than $7.8 million and comprising a number of studies with
a massively distributed investigator network that spans more than 750
sites.
-- Two Thorough QT studies to be completed in the manual methodology
totaling more than $3 million sponsored by a growing focused
pharmaceutical organization and an emerging biopharmaceutical targeting
innovative anti-infective therapies.
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.
In other news released separately today, eRT announced a strategic alliance
with Mortara Instrument to provide enhanced digital ECG products and services.
The agreement includes production of an eRT private label device and authorized
reseller rights for equipment and Mortara's E-Scribe ECG Warehouse Services to
the global drug development industry.
"Substantial early traction in the third quarter indicates growing momentum in
the trends toward program awards and the drug development industry's embrace of
key elements of ICH, E14 regulatory guidance, which require Thorough QT studies
for virtually all new compounds," said Scott Grisanti, senior vice president of
business development and chief marketing officer at eRT. "Our key July wins
illustrate two of eRT's most distinguishing strengths. First, sponsors
recognize eRT's overall capacity and logistics capabilities, key to supporting
extensive later phase programs comprising hundreds of sites, as an important
core competency. Second, eRT's ongoing scientific, technical and operational
expertise in the extraordinarily demanding Thorough QT Study arena continues to
drive awards in this critical market segment.
"We were very pleased with industry response to our June-July seminar series,
which focused on practical implications of ICH, E14 and planning and conduct of
Thorough QT studies. We hosted a total of about 300 attendees at three sessions
in London, Tokyo and Philadelphia and are adding a date in Orange County, Calif.
in October to meet demand from the West Coast biopharmaceutical community. In
addition, the enhancement of our Mortara relationship supports delivery of
innovative products and services that help sponsors to optimize their cardiac
safety programs enterprise-wide."
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.
DATASOURCE: eResearchTechnology, Inc.
CONTACT: Joan Sterlacci of eResearchTechnology, Inc., +1-908-203-6473;
or Matt Hayden of Hayden Communications, +1-858-704-5065, for eRT
Web site: http://www.ert.com/