12.11.2007 21:15:00
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Encorium Group Appoints Biopharmaceutical Industry Veteran Linda Nardone Ph.D. as Chief Operating Officer
Encorium Group, Inc. (Nasdaq: ENCO), a full service multinational
contract research organization (CRO) conducting studies in over 30
countries for many of the world's leading pharmaceutical and
biotechnology companies, today announced the appointment of Linda
Nardone, Ph.D. to the newly created position of Chief Operating Officer
and Executive Vice President. Dr. Nardone will report directly to
Kenneth M. Borow, M.D., Encorium’s President
and Chief Executive Officer, and will be based at the Company’s
corporate headquarters in Wayne, PA.
Dr. Nardone has more than 20 years of clinical trial management
experience in the pharmaceutical, biotechnology and medical device
industries, working for such companies as Pharmacia, Inc. (acquired by
Pfizer in 2003), Sterling Winthrop, Inc., Immunomedics, Inc., and.
Elusys Therapeutics, Inc. Most recently, Dr. Nardone served as General
Manager for Zila Biotechnology where she had significant
responsibilities for a Phase III drug to treat oral cancer. She has
successfully built effective research, development and manufacturing
teams for large multinational drug as well as start-up biotechnology
companies. Her experience encompasses all aspects of operations
including preclinical and clinical testing, project management, quality
control and compliance, and manufacturing. In addition, Dr. Nardone has
extensive Regulatory Affairs experience including multiple FDA and
European submissions and approvals relating to proprietary and generic
drugs. As a senior member of the corporate management team for three
start-up companies, she has been integral to venture capital financings,
initial public offerings (IPO), and accessing government funding sources.
Dr. Nardone earned her Ph.D. in physiology from Pennsylvania State
University, and holds a B.S. in Science from Fairleigh Dickinson
University. Additionally, she obtained Regulatory Affairs Certification
via the Regulatory Affairs Professional Society Examination. She is the
Editor/Author of the first edition of a highly regarded book entitled Fundamentals
of Regulatory Affairs.
Dr. Borow stated, "Dr Nardone is a highly
experienced leader with a track record of success in all aspects of
biopharmaceutical development. Her thorough understanding of the
integrated nature of clinical operations and regulatory affairs will be
particularly valuable to companies as they face sensitive issues
regarding financial and personnel resource constraints, the need for a
highly focused and timely plan to support regulatory approval, and the
achievement of timelines without compromise to the quality of
deliverables.”
Dr. Borow concluded, "From the beginning of
our search process for the COO position we sought an individual who
could contribute significantly to our senior management team while
leading our Global Operations and Regulatory Affairs groups. I believe
that Dr. Nardone’s unique combination of
experience relating to clinical research operations, regulatory and
medical affairs, and business development will prove invaluable to
Encorium Group in the future.”
Dr. Nardone stated, "I am excited about
joining the team at Encorium Group and helping to implement the global
operational vision for the company. Our focus will be on continuing to
provide our sponsors with quality in clinical research while maintaining
highly efficient operations over a wide geographic footprint. In
addition, I expect to enhance the value of Encorium’s
regulatory and clinical input to its clients throughout the entire
product development process - from product concept to post-marketing.” About Encorium Group, Inc.
Encorium Group, Inc. is a global clinical research organization that is
a leader in the design and management of complex clinical trials and
Patient Registries for the pharmaceutical, biotechnology and medical
device industries. The Company’s mission is
to provide its clients with high quality, full-service support for their
biopharmaceutical and medical device development programs. Encorium
offers therapeutic expertise, experienced team management and advanced
technologies. The Company has drug and biologics development as well as
clinical trial experience across a wide variety of therapeutic areas
such as infectious diseases, cardiovascular, vaccines, oncology,
endocrinology/metabolism, diabetes, gene therapy, immunology, neurology,
gastroenterology, dermatology, hepatology, women’s
health and respiratory medicine. Encorium believes that its leadership
in the design of complex clinical trials, its therapeutic expertise and
commitment to excellence, and its application of innovative
technologies, offer its clients a means to more quickly and cost
effectively move products through the clinical development process.
Encorium is headquartered in Wayne, Pennsylvania with its European base
of operations in Espoo, Finland. The Company has a geographic footprint
that includes over one billion people in North America,
Western/Central/Eastern Europe, Scandinavia, and the Baltics.
This press release contains forward-looking statements identified by
words such as "estimate,” "project,” "expect,” "intend,” "believe,” "anticipate” and
similar expressions. Actual results might differ materially from those
projected in, expressed in or implied by the forward-looking statements.
Potential risks and uncertainties that could affect the Company's future
operating results and financial condition include, without limitation:
(i) our success in attracting new business and retaining existing
clients and projects; (ii) the size, duration, and timing of clinical
trials we are currently managing may change unexpectedly; (iii) the
termination, delay or cancellation of clinical trials we are currently
managing could cause revenues to decline unexpectedly; (iv) the timing
difference between our receipt of contract milestone or scheduled
payments and our incurring costs to manage these trials; (v) outsourcing
trends in the pharmaceutical, biotechnology and medical device
industries; (vi) the ability to maintain profit margins in a competitive
marketplace; (vii) our ability to attract and retain qualified
personnel; (viii) the sensitivity of our business to general economic
conditions; (ix) other economic, competitive, governmental and
technological factors affecting our operations, markets, products,
services and prices; (x) announced awards received from existing and
potential customers are not definitive until fully negotiated contracts
are executed by the parties;(xi) our backlog may not be indicative of
future revenues and may not generate the revenues expected;(xii) our
ability to successfully integrate the businesses of Encorium and
Remedium Oy which we acquired on November 1, 2006; and (xiii) the
performance of the combined business to operate successfully and
generate growth. You should not place any undue reliance on these
forward looking statements which speak only as of the date of this press
release. Additional information concerning factors that might affect our
business or stock price which could cause actual results to materially
differ from those in forward-looking statements is contained in Encorium
Group's SEC filings, including its Annual Report on Form 10-K for the
year ended December 31, 2006 and other periodic reports under the
Securities Exchange Act of 1934, as amended, copies of which are
available upon request from Encorium Group's investor relations
department or The Equity Group Inc.
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