Encorium Group, Inc. Announces the Resignation of Lawrence R. Hoffman as Chief Financial Officer; Company to Immediately Begin Search for Successor
Covalent zu myNews hinzufügen Was ist das?
Encorium Group, Inc. (Nasdaq: ENCO), a full-service multinational
contract research organization (CRO) that provides design, development,
and management capabilities for clinical trials and patient registries
to many of the world's leading pharmaceutical and biotechnology
companies, today announced the resignation of Lawrence R. Hoffman, the
Company’s Chief Financial Officer, effective
May 2, 2008. Mr. Hoffman has decided to leave the Company to pursue
other interests.
Kai Lindevall, M.D., Ph.D., Encorium’s Chief
Executive Officer and Kenneth M. Borow, M.D., Encorium Group’s
President and Chief Medical and Strategic Development Officer jointly
commented, "On behalf of the entire Encorium
organization, we wish Larry good luck in his future endeavors and thank
him for his role in the growth of the Company over the past four years.
Larry has created a solid financial foundation that will support our
ongoing global expansion and business development initiatives. We will
now begin the search process for a new, top-level executive based in the
United States. We have retained the services of an executive search firm
to spearhead this recruitment effort, and will appoint an interim Chief
Financial Officer in the near future.” About Encorium Group, Inc.
Encorium Group, Inc. is a global clinical research organization
specializing 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,
diabetes endocrinology/metabolism, gene therapy, immunology, neurology,
gastroenterology, dermatology, hepatology, women’s
health and respiratory medicine. Encorium believes that its expertise in
the design of complex clinical trials, its therapeutic experience 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 and cash-on-hand 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, 2007 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.