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COVANCE EXPANDS CARDIOLOGIST CAPACITY
Covance establishes a strategic relationship with Gentiae Clinical
Research |
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December 9, 2002 — Princeton, New Jersey — Covance Inc.'s (NYSE: CVD) today
announced that they have established a strategic relationship with Gentiae
Clinical Research headquartered in San Francisco, California. The Central
Diagnostics facility of Covance located in Reno, Nevada will utilize Gentiae
cardiologists to meet an anticipated increase in electrocardiogram (ECG)
volume for clinical trials that is expected to accompany the proposed new
FDA regulations for standardized digital ECG data. The relationship with
Gentiae, a core laboratory established by the world-renowned Ischemia
Research and Education Foundation (IREF), will offer Covance significant
scalability of cardiology resources.
"Gentiae's cardiologists will be seamlessly integrated into our existing
operations and enhance our ability to continue our long-established quality
assurance of having each and every ECG interpreted by a cardiologist," said
Eileen Daniel, General Manager for Central Diagnostics at Covance. Gentiae
cardiologists have been trained to use Digitography (TM), the proprietary
system recently launched by Covance, which was developed in preparation for
the proposed new FDA regulations. Digitography integrates on-screen
cardiologist measurements into existing digital ECG systems resulting in a
totally paperless process. Unlike methods that employ a digitizing pad to
measure QT intervals, Digitography measurements enable cardiologists to use
computer-driven, on-screen calipers to attain a precision level not
previously available in the industry. Covance, with more than three decades
experience with digital ECGs, has processed more than 19,000 ECGs using the
Digitography method.
"Covance has accomplished a medical breakthrough with their Digitography
system," said Michael Kokesh, President and Chief Executive Officer of
Gentiae. "Not only will Digitography enable Gentiae physicians and
scientists to provide exceptionally precise readings, but the total digital
environment enables rapid turn around for ECG measurements as well. Our
capabilities are enhanced by the integrated quality assurance and data
management functions within the system."
Covance recently completed a Phase I study for a major pharmaceutical
company in conjunction with Gentiae that used the Digitography system to
review more than 8,500 ECGs in 90 days. "Our collaboration with Covance
using Digitography showed our team how much faster, more accurate, and more
consistent Digitography is than conventional methods," said Mr. Kokesh. "In
our opinion, the system takes a leading position among other current ECG
analysis systems, and we look forward to our continuing relationship with
Covance."
Pharmaceutical and biotechnology companies interested in finding out more
about the benefits of capturing ECGs digitally through an ISO 9001-certified
ECG management company may contact Covance Central Diagnostics by calling
1-888-COVANCE (888-268-2623).
Covance, with headquarters in Princeton, New Jersey, is one of the world's
largest and most comprehensive drug development services companies with 2001
pro forma revenues of $800 million, global operations in 17 countries, and
approximately 6,900 employees worldwide. Information on Covance's products
and services, recent press releases, and SEC filings can be obtained through the website in the About Covance area.
Statements contained in this press release which are not historical facts,
such as statements about prospective earnings, savings, revenue, operations,
revenue and earnings growth and other financial results 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,
Covance's ability to utilize Digitography on a large scale basis and
integrate Gentiae into its Central Diagnostics operations, the enactment of
the FDA guidance for Electronic Interchange Standard for Digital ECG and
similar data, and other factors described in the Company's filing with the
Securities and Exchange Commission including its Annual Report on Form 10-K
and Quarterly Reports on Form 10-Q. All information in this release is an of
December 9, 2002. The Company undertakes no duty to update any
forward-looking statement to conform the statement to actual results or
changes in the Company's expectation. |
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