NEWS

19 Oct 2009

Encorium Group, Inc. (Nasdaq: ENCO), a full service multinational clinical research organization (CRO) that provides design, development, and management capabilities for clinical trials and patient registries to many of the world's leading pharmaceutical companies, today announced that it has completed a private placement of 3,937,500 shares of its common stock with a private investor for an aggregate purchase price of $1,575,000, or $.40 per share.

Prior to the transaction, the Company has entered into Warrant Exchange Agreements with two investors (the "Investors") pursuant to which the Company issued to the Investors an aggregate of 1,864,000 shares of Common Stock (collectively, the "Exchange Shares") and warrants to purchase an aggregate of 874,126 shares of Common Stock, exercisable for a period of five years, at an exercise price of $.40 per share (collectively, the "Exchange Warrants"). The Exchange Shares and Exchange Warrants were issued in exchange for warrants dated as of May 9, 2007 held by the Investors to purchase an aggregate of 874,126 shares of Common Stock of the Company (collectively, the "Original Warrants").

The Company also announced that it has terminated previously announced negotiations for the sale of the Company’s wholly-owned subsidiary Encorium OY to a clinical research organization based in the United States and will not pursue a sale of the Company or Encorium OY at this time. Given the Company’s recent successes with respect to its strategy to grow into the world's leading vaccine franchise, including the recently announced $8.7 million of new business contract wins and the selection by a major pharmaceutical company for participation in a swine flu vaccine program, together with the investment announced today, the Company believes it is well positioned to win future contracts in the vaccine and oncology fields. As a result, the Company believes stockholder value will be maximized by moving ahead independently, while continuing to focus on clinical vaccine development.

Dr. Kai Lindevall, executive chairman stated, “We are very pleased that we were able to close this financing to shore up our balance sheet and provide the Company with additional working capital. Our experience and capabilities in the vaccine field coupled with the recent new awards in this area demonstrate the long term potential we have to grow into a leading vaccine franchise with expertise in pre-clinical support, regulatory consultancy and strategic trial planning. We believe these developments will position us to move ahead independently and are in the best interest of all stockholders.”

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09 Sep 2009

Encorium today announced the signing of approximately $8.7 million of new business contracts, including selection by a major pharmaceutical company for participation in a swine flu vaccine program.

Dr. Kai Lindevall, executive chairman stated, “We are delighted to be able to announce these new business awards, despite a very challenging market environment. Our experience and capabilities in the vaccine field have been of paramount importance in our success. We are very proud of being the selected partner for one of the frontline clinical development programs for the swine flu vaccine. In addition, we were also recently entrusted with a avian flue vaccine, as well as other vaccine development programs having, in the aggregate, approximately 12,000 patient subjects. We believe our participation in these studies exemplifies the level of trust and respect that large vaccine companies have in our vaccine expertise and clinical operations.

“We believe Encorium has developed into one of the strongest medium sized clinical research organizations with expertise in the field of clinical vaccine development. Our recent success in the vaccine field has been substantial, with revenues from vaccine trials increasing by 150% in 2009 versus 2008. As an acknowledgement of our achievements, in April 2009, Encorium was nominated as a finalist for the Second Annual Vaccine Industry Excellence Award.

“The establishment of our Core Vaccine Team has made it possible to enter strategic partnerships with a number of clients. Moving forward, our goal is to grow into the world’s leading vaccine franchise and to create a vertical niche expertise in the field of vaccine research, covering pre-clinical support, regulatory consultancy and strategic trial planning. As an integral part of this strategy, the Company has began and plans to continue creating global investigator and clinic networks to strengthen the Company’s ability to conduct large scale global phase III vaccine trials. Through these networks it will be possible for us to achieve fast and efficient subject/patient recruitment for vaccine trials globally, which will also ensure a strong local ownership and a strong ethical foundation.

“The Company has also been successful in winning trials in the field of oncology during 2009. Thus far in 2009, Oncology trials constitute the second largest revenue generating therapeutic field after vaccines. We believe our vaccine experience will continue to assist us in gaining new contract wins in the oncology sector, as we will continue to focus, not just on prophylactic vaccines, but also on therapeutic vaccines, which constitute a substantial number of oncology trials and are the fastest growing area within vaccine development. Based on our expertise and success in the field of vaccines and oncology, we believe we are well positioned to further strengthen our market position in these niche areas.”

The new business awards announced today mitigate any negative impact to our backlog as reported at June 30, 2009 from foreign currency translations, contract amendments and terminations and revenue recognized. The Company had reported consolidated backlog at June 30, 2009 from continuing operations of $19.6 million which compared to a backlog of $23.5 million at June 30, 2008.

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17 Jul 2009

Encorium Group, Inc. (Nasdaq: ENCO), a full service multinational clinical research organization (CRO) that provides design, development, and management capabilities for clinical trials and patient registries to many of the world's leading pharmaceutical companies, today announced that is has completed the previously announced sale of the Company’s U.S. business to Pierrel Research USA, Inc., a wholly-owned subsidiary of Pierrel SpA, an international contract research organization listed on Milano’s Stock Exchange. The purchase price was $2.7 million, comprised of $80,000 in cash as well as the assumption of $2.6 million in liabilities.

In connection with the consummation of the sale, Pierrel Research USA has entered into a lease with the landlord of the Company’s U.S. headquarters in Wayne, Pennsylvania, pursuant to which the landlord has agreed to release the Company from its remaining lease obligations of approximately $3.4 million for a termination fee of $235,000.

As of the closing of the transaction, Dr. David Ginsberg, Chief Executive Officer of the Company, has joined Pierrel Research USA as its Chief Executive Officer. In addition, Pierrel has extended employment to substantially all of Encorium’s U.S. employees. As a result, Pierrel expects that the U.S. operations will continue largely unchanged and that it will be able to seamlessly continue to deliver the services our customers depend on. Encorium has obtained authorizations from its affected customers allowing the Company to transfer the provision of services to Pierrel.

Dr. Kai Lindevall, Chairman of the Board and President of Europe and Asia, commented, "We believe that the sale of our U.S. business to Pierrell, a well respected international contact research organization with a strong management team and therapeutic and regulatory expertise, is in the best interest of our stockholders, employees and customers."

In conjunction with the sale of the U.S. assets, the Company also announced the departure of Linda L. Nardone, Ph.D., Encorium’s Chief Operating Officer.

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18 June 2009

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 companies, today announced that the Board of Directors of the Company has approved amended terms to the previously announced letter of intent with Pierrel SpA, an international contract research organization listed on Milano’s Stock Exchange, for the sale of its U.S. business. The sale is expected to close on June 30, 2009.

Subject to the negotiation of a definitive agreement, pursuant to the letter of intent, Pierrel has the right to purchase the Company’s U.S. Line of Business for a purchase price equal 17% of the Company’s U.S. backlog at closing, less the amount that assumed current liabilities exceed acquired current assets by more than $500,000, as opposed to $350,000 as was provided for in the original letter of intent. The Company anticipates that backlog as of June 30, 2009 will be approximately $11.5 million. It is estimated that at closing, the liabilities assumed by Pierrel will exceed the assets transferred by the Company by more than the $500,000 deficiency allowance. As a result, the Company does not anticipate it will receive cash from Pierrel at closing.

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18 May 2009

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 companies, today announced that the initial non-binding letter of intent with respect to its U.S. business has been terminated and that the Company has entered into another letter of intent with Pierrel SpA, an international contract research organization listed on Milano’s Stock Exchange.

Subject to the negotiation of a definitive agreement, pursuant to the letter of intent, Pierrel has the right to purchase the U.S. Line of Business for a purchase price equal to a percentage of the Company’s U.S. backlog calculated as of the closing or $1.35 million, whichever is greater, less the amount, if any, that assumed current liabilities, less assumed current assets exceeds $350,000. In addition to the purchase price payable at closing, Pierrel will pay Encorium a 10% commission on the value of any new contract, net of pass-through costs, executed after the closing date but prior to December 31, 2009, which constitute part of the Company’s pipeline at closing. 

Encorium Group plans to file a Current Report on Form 8-K with the United States Securities and Exchange Commission today containing a more detailed description of the parties’ rights and obligations under the agreement.

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11 May 2009

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 companies, today announced that it has entered into two non-binding letters of intent (“LOI”) with respect to its U.S. business and its wholly owned European subsidiary, Encorium Oy. 

The first LOI involves the sale of the assets of Encorium Group, Inc., USA, the Company’s U.S. business.  The Company has signed a non-binding LOI with a full-service internationally based contract research organization for an undisclosed price. 

The second LOI involves the sale of the Company’s wholly owned subsidiary Encorium Oy.  The Company has signed a non-binding LOI with a leading full-service clinical research organization based in the United States and with operations globally

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27 Apr 2009

Encorium Group Signs Approximately $2.0 Million of New Business Contracts

Encorium Group today announced the signing of approximately $2.0 million of new business contracts, consisting of both new business contracts and repeat business to be conducted primarily in Europe.  Revenue recognition will begin in the second quarter of 2009 on a proportional basis as services are performed on each project.  The backlog of the company was approximately $31.0 million at April 15, 2009.

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27 Apr 2009

Encorium Named as Finalist for the Second Annual
Vaccine Industry Excellence Award

Encorium Group today announced that the Company was nominated for the Second Annual Vaccine Industry Excellence Award for Best Contract Research Organisation.  Encorium was one of only seven leading CROs to be shortlisted for the award.  

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27 Apr 2009

Encorium Reports Fourth Quarter and Full Year 2008 Financial Results

• New business awards in 2008 total $36.1 million, an increase of 22% over 2007
• Results include non-cash goodwill impairment charge of $12.5 million for the fourth quarter, $14.4 million for the full year

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27 Jan 2009

Encorium Group Signs $3.1 Million of New Business Contracts Including an Extension of a Current U.S. Oncology Clinical Trial with a Major Pharmaceutical Company

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10 Sep 2008

Encorium Appoints David Ginsberg President and Chief Executive Officer,
Announces Changes to the Board of Directors

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9 Sep 2008

Prologue Acquisition Update and Termination of Linkcon Business Combination

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13 Aug 2008

Encorium Group Signs $3.5 Million of New Contracts for Vaccines Clinical Trials

$13.5 Million of New Business Contracts Announced During the Past Three Weeks

WAYNE, Pa.--(BUSINESS WIRE)-- 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 signing of $3.5 million of new business contracts with a global biopharmaceutical company. These contracts, which cover clinical trials in the field of vaccines and infectious diseases, will be conducted in multiple European countries. Services include regulatory submissions, project management, and field monitoring. Revenue recognition will begin in the current quarter with the remainder expected to occur on a proportional performance basis as services are performed on each project.

Kenneth M. Borow, M.D., Encorium Group’s President and Chief Medical and Strategic Development Officer, stated, “With the signing of these contracts, Encorium has announced approximately $13.5 million of new business during the past three weeks. In aggregate, these new contracts represent both repeat and new client business and cover a wide array of therapeutic areas for multiple small as well as large biopharmaceutical companies. Encorium will provide clinical trial services for these studies on three continents including North America, Europe, and South America. We are very encouraged about our company’s ability to win new business, especially as we move forward with our globalization efforts.”

Kai Lindevall, M.D., Ph.D., Encorium’s Chief Executive Officer, commented, “We see these new contracts as additional confirmation of the strength of our broad-based vaccines franchise. We are one of the world’s most experienced contract research organizations (CRO) involved in the development of prophylactic vaccines. This has allowed us to recently expand our clinical trial service offerings to include immunotherapy (i.e., therapeutic vaccines), a growing and innovative approach to the treatment of human disease.”

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22 Jul 2008

Encorium Group Signs Additional New Contracts Valued at $5.0 Million
Approximately $10 Million of New Business Contracts Announced During the Past Week

WAYNE, Pa.--(BUSINESS WIRE)-- 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 $5.0 million of new business contracts with several multinational as well as smaller biopharmaceutical companies. 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 M. Borow, M.D., Encorium Group’s President and Chief Medical and Strategic Development Officer, stated, “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.”

Kai Lindevall, M.D., Ph.D., Encorium’s Chief Executive Officer, commented, “We feel that the successful signing of new business and receipt of new requests for proposals are a clear justification of our recently announced expansion plans. Pharmaceutical and biotechnology companies are recognizing the value of our potential therapeutic and geographic capabilities. That is why I am delighted that we are proceeding with our plans to acquire the oncology-focused CRO Prologue and merge with Linkcon. We feel that with the addition of Prologue’s therapeutic expertise and Linkcon’s expanding group of CROs in India, Latin America and China/Asia, Encorium will be well positioned to win large multinational CRO contracts that have previously been difficult to attain.”

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17 Jul 2008

Encorium Group Announces $5.1 Million New Business Contract For A Multinational Cardiovascular Trial Of An Innovative Anti-thrombotic Agent

WAYNE, Pa. Encorium Group, Inc. (Nasdaq: ENCO) today announced the signing of a contract for $5.1 million with an innovative biotechnology company for a Phase 2 clinical trial to be conducted by Encorium in conjunction with our South American partner Estudios Cl�nicos Latino Am�rica (ECLA). The contract amount includes $170,000 payable under a letter of intent that was announced previously. The current trial will assess the efficacy and safety of multiple doses of a new anti-thrombotic agent in an at-risk patient population with cardiovascular disease. Encorium will provide full service support, including consulting on trial design and protocol development, project and study site management and monitoring, data management, biostatistical analysis, safety monitoring, and medical writing. Revenues will be recognized as services are performed on a proportional performance basis over the life of the contract, beginning in the current third quarter.

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12 Jun 2008

Encorium Group, Inc. Announces Signing of Letter of Intent to Combine with Linkcon; Expected Expansion Will Create Global CRO

Company to Conduct Conference Call at 9:00 AM on Thursday, June 12, 2008 to discuss

Direct link:
WEBCAST

Highlights of the Proposed Combination

• Linkcon is in the process of acquiring a series of clinical research organizations (“CROs”) throughout the world

• Assuming completion of its acquisitions, Linkcon is expected to add an aggregate of $11 million in net revenue to Encorium on a pro forma basis

• Encorium separately announced its intent to acquire Prologue Research International, Inc. (“Prologue”), a clinical research organization that specializes in a full range of clinical research services for Phase I through IV clinical trials in oncology and oncology-related studies

• Total combined company is expected to offer greatly enhanced global capabilities and therapeutic expertise in the North America, Europe and emerging markets including India, Latin American and China.

• Combined backlog (including Encorium, Linkcon and Prologue) in the range of $65-70 million expected at closing

WAYNE, Pa.--(BUSINESS WIRE)-- Encorium Group, Inc. (Nasdaq: ENCO) (“Encorium” or “the Company”), a full-service multinational 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 that it has entered into a non-binding letter of intent to combine (“the Business Combination”) with Fine Success Investments, Ltd., a British Virgin Islands company doing business as Linkcon (“Linkcon”). Linkcon has acquired or will acquire either prior to or simultaneously with the proposed business combination with Encorium:

1) a CRO based in India with over 10 years of clinical trial experience;

2) a CRO operating throughout Latin America, also with over 10 years of clinical trial experience;

3) a Chinese CRO that holds licenses to conduct clinical trials in the People's Republic of China and Hong Kong; and

4) a controlling interest in the Chinese company that holds the license for JK1, a healthcare portal for medical professionals and consumers promoting the exchange of medical information between China and the Western world.

This Business Combination is expected to enhance Encorium’s global profile as a CRO by broadening the Company’s operational services and therapeutic area offerings into established and emerging biopharmaceutical markets across multiple continents.

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12 Jun 2008

Encorium Group, Inc. Announces Signing of Letter of Intent to Acquire Prologue Research International, Inc.

Highlights

• Prologue is a specialty clinical research organization (“CRO”) focusing on oncology and oncology-related studies. This acquisition broadens Encorium’s therapeutic area expertise in this very important and high-growth area of drug/biologics development.

• Prologue’s annual revenue grew at a compounded rate of greater than 30% from 2005 through 2007.

• Prologue has a backlog in excess of $25 million for the fiscal year ended December 31, 2007.

WAYNE, Pa.--(BUSINESS WIRE)-- Encorium Group, Inc. (Nasdaq: ENCO) (“Encorium” or “the Company”), a full-service, multinational 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 that it has entered into a non-binding letter of intent to acquire Prologue Research International, Inc. (“Prologue”), a CRO that specializes in a full range of clinical research services for Phase I through Phase IV clinical trials in oncology and oncology-related studies.

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11 Jun 2008

Encorium Group, Inc. Conference Call To Discuss Recent Announcements
Thursday, June 12, 2008 - 9:00 AM ET

Direct link:
WEBCAST

31 Mar 2008

Encorium Group, Inc. Announces $3.2 Million of New Business Contracts for Europe and North America

WAYNE, Pa.--(BUSINESS WIRE)-- 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 $3.2 million of additional new business contracts for Europe and North America. The therapeutic areas included in these awards are oncology, asthma, diabetes, rheumatology, and immunology/vaccines. Services to be provided include consulting, regulatory affairs, project management, field monitoring, and medical monitoring/writing. Revenue recognition for many of these contracts will begin in the current second quarter of 2008 with the remainder expected to occur on a proportional performance basis as services are performed on each project.

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15 May 2008

Encorium Group, Inc. 2008 1st Quarter Financial Results Webcast
Thursday, May 15, 2008 at 11:00 AM ET

Direct link:
WEBCAST

28 Apr 2008

Encorium Group, Inc. expands its European operations with the opening of an office in the Cologne area, Germany, Encorium Germany GmbH
WAYNE, PA, April 28, 2008 – Encorium Group, Inc. (Nasdaq: ENCO) a global clinical research organization (CRO) specializing in the design and management of complex clinical trials and Patient Registries for the pharmaceutical, biotechnology and medical device industries, announces the opening of an office in Erftstadt, Germany.

Encorium has successfully been operating in Germany through the last years with regionally located staff and in order to continue providing our clients with quality in clinical research we have now established an office in Erftstadt, Germany.

Christine Mohlberg, MSc., has been appointed as Country Manager for the operations in Germany. Christine brings more than 10 years experience in clinical research from both the pharmaceutical and CRO industry. Christine has extensive experience as a project leader working on a global scale and brings a wealth of experience in CNS and oncology.

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7 Apr 2008

Encorium Group, Inc. Announces Additional $2.2 Million of New Business Contracts With Multiple European and U.S. Biopharmaceutical Companies

WAYNE, PA, April 7, 2008 -- (BUSINESS WIRE)-- 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 that it has signed additional new business contracts valued at approximately $2.2 million with multiple European and U.S. biopharmaceutical companies. The therapeutic areas included in these awards are oncology, pulmonary arterial hypertension, infectious diseases, immunology/vaccines, and women’s health. Services to be provided include consulting, regulatory affairs, project management, field monitoring, and medical monitoring/writing. Revenue recognition is expected to occur on a proportional performance basis as services are performed on each project.

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31 Mar 2008

Encorium Group, Inc. Announces $1.6 Million Contract for a Phase 2 Trial of an Innovative Immunotherapeutic Vaccine for the Treatment of Hypertension

WAYNE, PA, March 31, 2008 -- 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 for many of the world's leading pharmaceutical and biotechnology companies today announced the signing of a $1.6 million contract with Protherics, a leading UK biopharmaceutical company, for a Phase 2 trial of its novel immunotherapeutic vaccine, Angiotensin Therapeutic Vaccine (ATV), for the treatment of hypertension.

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26 Mar 2008

Encorium Group, Inc. 2007 4th Quarter Financial Results Webcast
Wednesday, March 26, 2008 at 11:00 AM ET

Direct link:
WEBCAST

21 Feb 2008

Encorium Group, Inc. Announces Realignment Of Its Senior Management Team To Meet Its Global Growth Objectives


WAYNE, PA, February 21, 2008 – Encorium Group, Inc. (Nasdaq: ENCO), in order to more effectively support its global growth plans, announced that it is realigning the responsibilities of its senior management team. These changes are intended to facilitate globalization of Encorium through expansion of the Company’s worldwide service offerings with a focus on sustained revenue growth and profitability. Dr. Kenneth M. Borow is currently President of Encorium Group, Inc as well as Chief Executive Officer. In order to allow Dr. Borow to focus more of his time on the expansion of the Company’s Consultancy Services business and its Global Business Development initiatives, the responsibilities of Chief Executive Officer have been transferred as of today to Dr. Kai Lindevall, presently Encorium’s President of Operations for Europe and Asia. Dr. Borow will remain President of the Company as well as assume the new position of Chief Medical and Strategic Development Officer.

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18 Jan 2008

Encorium Group, Inc. Announces $3.4 Million of Awarded New Business Contracts


WAYNE, PA, January 18, 2008 -- 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 it has been awarded new business contracts with an aggregate value of approximately $3.4 million. The therapeutic areas included in these awards are oncology, gynecology, respiratory diseases, and gastroenterology. Services to be provided include project management, field monitoring, data management, statistics, medical writing, and quality assurance. Revenue recognition for several of these contracts began in the fourth quarter of 2007, with the remainder beginning in the current first quarter of 2008. Revenue recognition will occur on a proportional performance basis as services are performed on each project.

Kenneth M. Borow, M.D., President and Chief Executive Officer for Encorium Group, commented, “In the past two weeks Encorium has announced $7.1 million of new business awards. These have been over a wide array of therapeutic areas and have included many different services that will be provided to our clients. The work associated with these opportunities will be performed on a multinational basis.”

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10 Jan 2008

Encorium Group, Inc. Announces Signing of $1.7 Million in Contracts with Leading International Biotechnology Company for Clinical Trials in Oncology and Rheumatology


WAYNE, PA, January 10, 2008 -- 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 signing of multiple new contracts with an aggregate value of approximately $1.7 million. These contracts, which are with a leading international biotechnology company, are for regulatory submission services, support of new clinical trials, and changes-of-scope for existing studies. The therapeutic areas covered in these contracts are oncology and rheumatology. Revenue recognition began during the fourth quarter of 2007 and continues on a proportional performance basis over the life of the contract as services are performed.

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7 Jan 2008

Encorium Group, Inc. Announces the Signing of a $2.0 Million Contract for Data Management Services for a Global Pharmaceutical Company


WAYNE, PA, January 7, 2008 -- 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 signing of an extension to an existing contract for Global Data Management services valued at approximately $2.0 million. A significant portion of the revenue from this contract extension, which was signed during the fourth quarter, is expected to be recognized during the first half of 2008 as services are performed.

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