News - $4 Million Study
Covalent Group, Inc. to Conduct $4 Million Clinical Development Study
WAYNE, Pa., Dec. 17 /PRNewswire/ -- Covalent Group, Inc. (Nasdaq: CVGR - news) today announced that it has been awarded a $4 million contract from a leading pharmaceutical firm to conduct a major, multi-year, clinical development study. The contract also provides for Covalent to administer and manage an additional $8 million in investigator grants, clinical development fees, and other related expenses.
''This new study, which is in a major therapeutic area, interfaces with our core competency in advanced clinical research and will utilize our integrated electronic centralized patient randomization, drug dispensing and drug tracking system, TeleTrial. This system will cost-effectively accelerate the achievement of the sponsor's clinical research milestones in this study,'' commented Bruce LaMont, Chief Executive Officer. ''Covalent will continue to deliver quality services and innovative solutions to its expanding client base. Our experience and expertise are affording us the opportunity to help ensure the success of our clients' products in the marketplace.''
Covalent provides drug development and health management solutions to pharmaceutical and device manufacturers as well as managed care organizations. To aid its pharmaceutical and managed care customers, Covalent has developed several currently available proprietary products utilizing interactive speech recognition technology including TeleTrial, a clinical trial management system, and Virtual HouseCall, a disease assessment system.
This press release contains forward-looking statements. Actual results might differ materially from those projected in the forward-looking statements........
Contact Covalent on-line: cracorp.com |
