Phase Forward Named to FORTUNE Small Business Fastest-Growing Public Companies

Company News Release

WALTHAM, MA

Up from 38th last year, Phase Forward, a provider of data management solutions for clinical trials and drug safety, has been included in the FORTUNE Small Business 100 list for the second consecutive year. The company ranked 20th among America’s fastest-growing small public companies and is also the top-ranked company in the state of Massachusetts and seventh among the 30 technology companies featured.

To compile the ninth annual list, FORTUNE Small Business asked financial research firm Zacks to screen annual reports for public companies with annual revenue of less than $200 million and a stock price of more than $1. Within that group, companies were ranked based on the past three years’ earnings growth, revenue growth, and stock performance. The list can be found in the July/August issue of FORTUNE Small Business.

“We’re pleased to be recognized by FORTUNE Small Business for the second year, which is a real testament to the caliber and commitment of our employees,” said Bob Weiler, Chairman and CEO, Phase Forward. “This past year has been an incredibly important year for us and we’ve worked hard to further expand our product lines to offer our customers a comprehensive, end-to-end approach to clinical trial data and safety management.”

Phase Forward closed 2008 with record revenues of $170.2 million, up 27 percent from 2007, and announced a 22 percent increase in GAAP revenues for the second quarter of 2009 over the same quarter last year.

About FORTUNE Small Business
FORTUNE Small Business is the premier magazine for-and about-small business owners, with the largest audience and rate base in the small business category. Through a partnership with American Express, FSB is distributed 10 times a year and reaches 1 million owners and partners of leading small businesses. With unmatched resources and access to the industry’s most innovative thinkers, FSB delivers best practices, connects small business owners to a community of their peers and arms them with the inspiration and actionable advice they need to succeed. FSB, along with FORTUNE, Money, and the Website CNNMoney.com, is part of The Fortune|Money Group. Time Inc. is a division of Time Warner, a leading media and entertainment company.

About Phase Forward
Phase Forward is a provider of integrated data management solutions for clinical trials and drug safety. Phase Forward’s products and services have been utilized in over 10,000 clinical trials involving more than 1,000,000 clinical trial study participants at over 290 organizations and regulatory agencies worldwide including: AstraZeneca, Boston Scientific, Dana-Farber Cancer Institute, Eli Lilly, the U.S. Food and Drug Administration, GlaxoSmithKline, Harvard Clinical Research Institute, Merck Serono, Novartis, Novo Nordisk, PAREXEL International, Procter & Gamble, Quintiles, sanofi-aventis, Schering-Plough Research Institute, Servier, Tibotec and the U.K. Medicines and Healthcare Products Regulatory Agency. Additional information about Phase Forward is available at www.phaseforward.com.