ENCO

[alvin58]

I picked up some at 4.81 and 4.84
8:00AM Encorium Group announces $12.4 mln contract with global biopharmaceutical co for multi-national Phase 3 trial in prostate cancer (ENCO) 4.04 : Co announces the signing of a multi-year contract valued at approx $12.4 mln for the conduct of a Phase 3 trial in prostate cancer. The study will be conducted for a global biopharmaceutical co at clinical trial sites in North America, Scandinavia, and Central/Eastern Europe. Encorium will provide project and study site mgmt, field operations, data mgmt and biostatistical services, as well as medical writing services. Additionally, Encorium's consulting group has already made several important contributions to the study including input into trial design and study site selection. The co provided the following financial highlights: As of December 31, 2006, mgmt ests that Encorium's consolidated worldwide backlog will be $52-54 mln versus $32 mln for the combined entity at the end of 2005, an increase of approx 66%.

[alvin58]

WAYNE, Pa.--(BUSINESS WIRE)--Encorium Group, Inc. (Nasdaq: ENCO - News; "Encorium"), a leader in the design and management of complex clinical trials and patient disease registries for the pharmaceutical, biotechnology and medical device industries, today announced the signing of a multi-year contract valued at approximately $12.4 million for the conduct of a Phase 3 trial in prostate cancer. The study will be conducted for a global biopharmaceutical company at clinical trial sites in North America, Scandinavia, and Central/Eastern Europe. Encorium will provide project and study site management, field operations, data management and biostatistical services, as well as medical writing services. Additionally, Encorium's consulting group has already made several important contributions to the study including input into trial design and study site selection. Revenue recognition is expected to begin in January 2007 and will continue on a proportional basis over the life of the contract as services are performed.



Kenneth M. Borow, M.D., President and Chief Executive Officer, commented, "This contract is highly significant for us in numerous ways:

1. It is a large multi-national Phase 3 program with a global biopharmaceutical company.

2. It demonstrates the positive impact that our new business model based on consulting expertise and expanded geographic footprint has already had on our ability to successfully win new business.

3. Over the past several years, we have targeted oncology as an area of growing opportunity for Encorium. Oncology, along with cardiovascular disease, are areas of particular focus for us since clinical trials in these two very important therapeutic areas have many similarities relative to required expertise and resources. Specifically, both frequently involve patients with complex medical issues, in-hospital stays, long term outpatient follow-up, multiple drugs and/or biologics as therapy, and use of an array of medical imaging techniques for assessment of baseline and ongoing disease status. Encorium has repeatedly demonstrated programmatic and operational successes involving clinical trials that focus on all of these issues and skill sets."

The Company provided the following financial highlights:

This $12.4 million contract brings the total of the Company's new business announcements over the past two months to $20.6 million.
As of December 31, 2006, management estimates that Encorium's consolidated worldwide backlog will be $52-54 million versus $32 million for the combined entity at the end of 2005, an increase of approximately 66%.
Dr. Borow concluded, "Looking forward into 2007, Encorium Group expects to report robust growth in net revenue based on our expanding backlog of signed contracts as well as revenues from future new business contracts. The Company is continuing to move ahead simultaneously on many fronts and is successfully addressing multiple issues that have previously been impediments to our growth and profitability. We believe that this $12.4 million Phase 3 contract, combined with our recent $8.2 million announcement for Phase 1 and Phase 2 multinational studies supporting the development of an important anti-viral agent for seasonal and Avian Flu, validates Encorium's position as a highly competitive service provider across all phases of development for drugs and biologics."

About Prostate Cancer

Prostate cancer is the most commonly diagnosed cancer in men. It represents 33% of all yearly-diagnosed cancers. Ultimately, one in six men in the United States will be diagnosed with prostate cancer. While modern surgery and radiation therapy are highly effective against prostate cancer, up to 40% of patients will experience a disease relapse within the first 3-5 years following "local definitive treatment". In 2004, more than 230,000 men were diagnosed with prostate cancer in the United States alone. Of those diagnosed, approximately 1 in 8 will die of their disease. An estimated $5.3 billion was spent on the treatment of prostate cancer in the United States in 2004.

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 cardiovascular, endocrinology/metabolism, diabetes, vaccines, infectious diseases, gene therapy, immunology, neurology, oncology, 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 25 countries in North America, Western/Central/Eastern Europe, Scandinavia, and the Baltics. In addition, Encorium Group, in collaboration with its Brazilian strategic partner, offers full-service CRO capabilities in South and Central America.

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 and (xiii) the ability of the combined business to operate successfully, generate revenue growth and achieve operating profitability. 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, 2005 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.



Contact:
Encorium Group, Inc.
Lawrence R. Hoffman, CPA, Esq., Chief Financial Officer
610-975-9533
[email protected]
www.encorium.com
Or
Investor Relations Counsel:
The Equity Group Inc.
Adam Prior, 212-836-9606
[email protected]
or
Devin Sullivan, 212-836-9608
[email protected]
or
www.theequitygroup.com

--------------------------------------------------------------------------------
Source: Encorium Group,

[alvin58]

enco just popped to 5.40

[alvin58]

Sold some at 5.36  5.40 is a new 52 week high.

[alvin58]

Keeps going up. another 52 week  high today at 5.50

[alvin58]

Another 52 week high today of 5.85

[alvin58]

Still going up 6.10 new 52 week high  again. How much higher can it go???

[422fwhp]

applauds for the pic