Covance Expands, Consolidates Research Clinic In Austin, TX
— New facility increases Phase I capacity —
Austin, Texas, January 31, 2007 — Covance Inc., one of the world's largest drug development services companies, has relocated and expanded its Austin clinical research unit, the company announced today. This move completes significant facility upgrades planned for three of the eight clinics acquired from Radiant Research, Inc. in May 2006.
"Our new clinic is truly a top tier research facility," says Rafael Cajigas, Site Director. "The move consolidates our early and late stage operations in one building, including study conduct, screening, and administration in a purpose-built facility. We've also increased the square footage and expanded capacity to 60 beds, and the new space is large enough for significant expansion to meet demand."
Located at 313 East Anderson Lane, Covance is moving its existing outpatient reception and pharmacy to a larger 2nd floor area, and moving its Phase I research clinic from Duval Street to the 3rd floor at Anderson Lane. Altogether, Covance will occupy 34,000 square feet. Twelve of the 60 beds are set aside specifically for studies that require intensive monitoring.
The research team at Austin conducts Phase I studies such as first-in-human and cardiac safety (QTC), and studies requiring special populations such as the renally impaired. The staff is also experienced with studies of drugs in later stages of development for diabetes, hepatitis, hypertension, obesity, high cholesterol, osteoporosis, arthritis, and gastrointestinal indications. The new clinic is telemetry-equipped.
Covance's study volunteers from Austin and the surrounding area will enjoy improved accommodations and amenities, including a larger lounge, big-screen plasma televisions, Internet access, and designated quiet zones. Most of the clinical conduct staff is bilingual.
Covance conducts clinical trials at Austin and ten other clinical research units in the United States and the United Kingdom. Multiple sites add diversity in special populations to the recruitment database, and clients are able to choose a convenient location, select a site with a particular expertise, or run concurrent studies. Covance offers a complete portfolio of drug development services, from discovery to commercialization. To learn more, please call 888-COVANCE (888-268-2623) in the Americas; 44(0) 4235-00888 in Europe; or 1-65-65677333 in Asia.
Covance, with headquarters in Princeton, New Jersey, is one of the world's largest and most comprehensive drug development services companies with annual revenues greater than $1 billion, global operations in 20 countries, and approximately 8,000 employees worldwide. Information on Covance's products and services, recent press releases, and SEC filings can be obtained through its website at www.covance.com.
Statements contained in this press release, which are not historical facts, are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements including the statements contained herein regarding anticipated trends in the Company's business are based largely on management's expectations and are subject to and qualified by risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation, competitive factors, outsourcing trends in the pharmaceutical industry, levels of industry research and development spending, the Company's ability to continue to attract and retain qualified personnel, the fixed price nature of contracts or the loss of large contracts, and other factors described in the Company's filings with the Securities and Exchange Commission.
Covance and the Covance logo are registered service marks of Covance in the United States and other countries.