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news.Encorium Group, a full-service multinational contract research organization, has announced $5 million of new business contracts with several multinational as well as smaller biopharmaceutical companies.
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The therapeutic areas included in these awards are cardiovascular diseases, oncology, diabetes, and infectious diseases. Services, which will be provided in both North America and Europe, include medical/scientific consulting, data management, regulatory affairs, project management, field monitoring, and medical monitoring/writing.
Revenue recognition for many of these contracts will begin in the current third quarter of 2008 with the remainder expected to occur on a proportional performance basis as services are performed on each project.
Kenneth Borow, president of Encorium, said: “Encorium has announced approximately $10 million of new business contracts during the past week which has resulted in an increase in our current backlog of signed contracts to approximately $43 million.
“We are very encouraged by these recent developments and remain confident in our ability to continue to win new business across a wide array of therapeutic areas and geographies.”