Averion Opens Office in the Ukraine

Business Wire,  July 16, 2008  

• E-mail
• Print
• Link

SOUTHBOROUGH, Mass. -- Averion International Corp. (OTC BB: AVRO), an international clinical research organization (CRO) specializing in oncology, cardiovascular diseases and medical devices, today announced it has strengthened its European operations by opening of an office in the Ukraine.

"With our expansion into the Ukraine, Averion is continuing our growth strategy to provide our clients with international clinical trials services," said Markus H. Weissbach, MD, PhD Averion International's Chief Executive Officer. "The Ukraine offers access to large patient populations, motivated investigators and a multitude of medical universities/academic institutions, all of which are critical to the successful conduct of international trials for Averion's clients. We are currently working on several oncology and cardiology studies in the Ukraine and intend to further expand the operations in the coming months."

The Ukraine office is located in Kiev, and is being led by Evgeny Levenko, MD, PhD, Affiliate Manager for Averion Ukraine. Dr. Levenko brings to Averion over 10 years of experience in managing clinical trials in the Ukraine with particular expertise managing studies in Cardiovascular diseases, Pulmonology, Central Nervous System diseases, Rheumatology and Endocrinology. He will oversee project management, monitoring, safety, medical writing and regulatory activities for Averion's studies being conducted in the Ukraine. Today, the office is staffed with highly experienced Clinical Research Associates (CRAs), with additional staff planned to be hired in the coming months.

"I am pleased to have led the team that has built Averion's current Ukraine operations and look forward to managing and expanding it, in order to meet the needs of our clients." said Dr. Evgeny Levenko.

About Averion International Corp.

Averion International Corp. is a leading international CRO with proven expertise in supporting global clinical trials for pharmaceutical, biotechnology and medical device companies. The Company has a therapeutic focus in oncology, cardiovascular diseases and medical devices. Averion's core competencies are in FDA and product registration support, site selection, project management, medical and site monitoring, data management, biometrics, pharmacovigilance, medical writing, and full clinical trial management services throughout the clinical trials lifecycle. The Company has supported FDA approvals for products in many therapeutic areas including oncology, cardiovascular diseases and medical devices.

Averion is headquartered in Southborough, Mass., with European operations based in Basel, Switzerland. Averion has additional U.S. offices in California, Maryland and New York; and additional offices outside the U.S. in France, the Netherlands, the United Kingdom, Poland, Russia, Israel, Germany, Austria, and Ukraine. We have additional operation centers in the Czech Republic, Slovakia and Hungary, and research partnerships in India, Asia and South America. For more information, visit www.averionintl.com.

Forward-Looking Statement

Statements contained in this press release that are not historical information are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected or implied. Those risks and uncertainties include, but are not limited to: our ability to attract, retain or integrate key personnel, including scientific and technical personnel; the termination, modification or delay of contracts which would, among other things, adversely impact our recognition of revenue included in backlog and our cash-on-hand; risks associated with our pursuit of strategic acquisitions or investment in new markets; our ability to acquire and integrate new businesses; our dependence on certain industries and clients; our ability to adequately protect sensitive patient information and confidential information of clients; our ability to keep pace with rapid technological changes; fluctuation in our operating results; our ability to service our outstanding debt and comply with requirements, including financial covenants, associated with that debt; our ability to recruit suitable volunteers for the clinical trials of our clients; our exposure to exchange rate fluctuations and international economic, political and other risks; our ability to develop and market new services in the U.S., Europe and internationally; the highly competitive nature of our market; our exposure to changes in outsourcing trends in the pharmaceutical and biotechnology industries; the impact of government regulation on our business; whether we can achieve and maintain effective internal controls; and other risks. Certain of these risks and uncertainties, in addition to other risks, are more fully described in the Company's annual report on Form 10-KSB for the period ending December 31, 2007 and in the Company's other periodic reports filed with the Securities and Exchange Commission. These forward-looking statements are made only as of the date of this press release, and the Company assumes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events, or otherwise.

COPYRIGHT 2008 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning