eResearchTechnology Announces Record-Breaking $32 Million In Third Quarter Awards for Cardiac Safety Monitoring Services and EDC/Clinical Data Technology

October 10, 2005

Applied Clinical Trials

Applied Clinical Trials, Applied Clinical Trials-10-11-2005, Volume 0, Issue 0

eResearchTechnology, Inc. (eRT) (Nasdaq: ERES - News), a leading provider of centralized electrocardiographic (ECG) services and e-research technology and services, announced today that it has signed approximately $32 million in third quarter contracts setting a new record for quarterly signings, capped by two late phase program awards from two Top 15 global pharmaceuticals awarded at month end.

eResearchTechnology, Inc. (eRT) (Nasdaq: ERES - News), a leading provider of centralized electrocardiographic (ECG) services and e-research technology and services, announced today that it has signed approximately $32 million in third quarter contracts setting a new record for quarterly signings, capped by two late phase program awards from two Top 15 global pharmaceuticals awarded at month end.

Highlights of the two month-end awards include:

  • A Phase III program from a Top 15 global pharmaceutical totaling approximately $1.4 million.

  • A Phase III program from a Top 5 global pharmaceutical totaling approximately $1.0 million.

For these cardiac safety services awards, 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 workflow enabled data handling technology, the first solution in production that was designed explicitly to meet emerging international regulatory guidance and technical standards.

"These two recent agreements bring to six the program level awards which, along with approximately $6 million in Thorough QT Study bookings, enabled eRT to drive a record $32 million in bookings in the third quarter," said Scott Grisanti, senior vice president of business development and chief marketing officer at eRT. "In addition, two Top 50 pharmaceuticals executed agreements to license access to eRT's Enterprise EDC platform during the quarter. The strong performance in this quarter signals growing demand for eRT's full line of products and services and the ability for the company to execute effectively at all levels. eRT continues to set the standard for the reliability of service and customer care that the drug development industry requires to entrust mission critical digital collection, management, analysis and distribution of cardiac safety and clinical data."

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.

SOURCE: eResearchTechnology, Inc.