Phase Forward Signs Multi-Year Enterprise Agreement with ICONWALTHAM, Mass.--(BUSINESS WIRE)--Jul 31, 2007 - Phase Forward (NASDAQ: PFWD), a leading provider of data management solutions for clinical trials and drug safety, today announced it has signed a multi-year enterprise agreement with global CRO ICON.
Earlier this year, the two companies announced that ICON had joined Phase Forward's CRO Advantage Program. Since that time the partners have won a notable number of deals and ICON has increased the number of professionals who have received in-depth training in the use of Phase Forward's InForm(TM) integrated trial management (ITM) electronic data capture (EDC) product.
In part, the new agreement gives ICON the option to adopt the InForm(TM) platform internally and as such offer the benefits InForm affords under a fully hosted model. Customers will now have the option of working with ICON on clinical studies where ICON is developing, managing and hosting the InForm software, or alternatively, ICON customers can work with Phase Forward under a hosted model. Under a hosted model, Phase Forward offers services, support, technology and training to help customers ease into adoption within a desired timeframe.
"EDC is truly at a tipping point, based on the accelerated demand that we see in our global sponsor community, and we are continuing to respond to that interest by offering a range of innovative solutions," said Debby Holmes ICON's Global EDC Champion. "The new agreement gives us greater flexibility in supporting customers using the InForm platform."
"This relationship offers customers the expertise of a world-class, global CRO and the strength of the InForm product offering, which is used successfully in complex, worldwide studies," said Michael Davies, Director, Sales & Global CRO Partnerships, Phase Forward. "Sponsors are requesting EDC implementations because they enable teams to collect clinical data more efficiently than ever before, and deliver greater data transparency and improved organizational efficiency."
About ICON plc
ICON plc is a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company specializes in the strategic development, management and analysis of programs that support clinical development - from compound selection to Phase I-IV clinical studies. ICON teams have successfully conducted over 1,900 development projects and over 2,300 consultancy engagements across all major therapeutic areas. ICON currently has approximately 4,800 employees, operating from 53 locations in 31 countries.
About Phase Forward
Phase Forward is a leading provider of integrated data management solutions for clinical trials and drug safety. The company offers proven solutions for electronic data capture (InForm(TM)), clinical data management (Clintrial(TM)), clinical trials signal detection (CTSD(TM)), strategic pharmacovigilance (WebVDME(TM) and Signal Management), adverse event reporting (Clintrace(TM)) and applied data standards (WebSDM(TM)). In addition, the company provides services in the areas of application implementation, hosting and validation, data integration, business process optimization, safety data management and industry standards. 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 250 organizations and regulatory agencies worldwide including: AstraZeneca, Boston Scientific, Dana-Farber Cancer Institute, Eli Lilly, the U.S. Food and Drug Administration, or FDA, GlaxoSmithKline, Harvard Clinical Research Institute, Merck & Co., 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.
Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains express or implied forward-looking statements relating to, among other things, the performance and features of Phase Forward's products and services, future business and operations plans of Phase Forward customers and partners, and the ability of Phase Forward's customers and partners to realize benefits from the use of Phase Forward's products and services. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond Phase Forward's control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. In particular, the risks and uncertainties include, among other things, the ability of Phase Forward's customers and partners to realize benefits from the use of its products and services, changes in regulatory requirements applicable to Phase Forward's customers and partners, the manner in which Phase Forward's customers and partners conduct business and the possibility that their needs or plans may change over time, and competition. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Phase Forward undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional disclosure regarding these and other risks faced by Phase Forward, see the disclosure contained in Phase Forward's public filings with the Securities and Exchange Commission including, without limitation, its most recent Quarterly Report on Form 10-Q.
Posted: July 2007