Pharmatech Reports Business Results From 2005 - Details Network Model For Growth In 2006
Denver, Colorado – February 16, 2006
(Denver, Colorado) –Feb 16, 2006 – Pharmatech, Inc. is a Research Management Organization (RMO) dedicated to the highest quality of clinical research, while protecting patient care and patient safety. Pharmatech combines the services of Clinical Research Organizations (CROs) with a refined research network of over 1500 investigators, caring for ½ million cancer patients in oncology and urology care. The Company reports positive results from 2005, highlighting increased enrollment and management team growth. The 2006 objectives will focus on connecting more trial sponsors to the Network, developing new research opportunities for oncologists and their patients, along with rapid enrollment of patients into ongoing studies.
The Company recognizes significant accomplishments in 2005:
- Increased Patient Enrollment – The Network boosted patient enrollment into clinical trials over 10% of the total enrollment from 2004.
- Key Additions to Senior Management – The Company separated executive functions by hiring Anders Malm, President, to refine and expand clinical operations. Matthew Wiener, PharmD, continues to serve as CEO with a renewed focus on the development of the business model. Dale Coykendall joined Pharmatech as Chief Financial Officer (CFO).
- Network Growth – Investigator participation in the research networks increased by over 50%, with the Network now totaling over 340 active research practices.
- Research Product Pipeline – A number of new clinical trial commitments were made, increasing the number and diversity of pharmaceutical and biotech clients utilizing the Company’s services.
The Pharmatech Network Research model is unique among research organizations. By delivering clinical research services through a network of investigators, the Company provides an array of services, from investigator referral to enrollment support for complete clinical trial management. “Our clients come to us for one reason, to complete clinical trials quickly with rapid patient enrollment,” states Anders Malm, President. “Clients discover that our services and Network strength combine to produce rapid site activation, quality data, and the development of strong relationships with clinical researchers, who ultimately choose among the commercial products to offer their cancer patients.”
Two trials currently underway with Point Therapeutics, Inc. (NASDAQ: POTP), involve site referral and enrollment support services for their Phase III non-small cell lung cancer (NSCLC) clinical trials. These studies, which opened to enrollment in January 2006, evaluate Point’s investigational dipeptidyl peptidase, Talabostat, in patients with Stage IIIB/IV NSCLC after failing 1st-line chemotherapy. Pharmatech has committed to refer up to 40 study centers for each of the studies.
With the business model established and an increased capacity for new clinical trials, the Company has committed to expand its research portfolio in 2006 to cover more cancer disease indications, broader stages of treatment within disease indications, and a range of supportive care trials. The company provides value to its stakeholders by 1) reducing research risk and realizing shorter time to commercial approval for therapeutic sponsors; and 2) providing Network investigators with well-designed research treatment options for their patients.
About Pharmatech, Inc.
Pharmatech, headquartered in Denver, Colorado, is a Research Management Organization (RMO) dedicated to the highest quality of clinical research. Pharmatech provides services of a Site Management Organization (SMO) and a Contract Research Organization (CRO) with a focus in oncology clinical trials. Through an organized research network, the Company focuses on the development and utilization of therapeutic products among sponsors, investigators, and patients.
For more information about Pharmatech, please visit www.pharmatechoncology.com.