Echo Therapeutics announced that it has signed a dermatology product and transdermal drug delivery technology right of first offer agreement with Cato BioVentures, the venture capital affiliate of Cato Research, a contract research and development organization. The agreement grants Echo exclusive rights of first negotiation to all dermatology product and transdermal drug delivery technology opportunities identified or acquired by Cato BioVentures. “This agreement expands our long-standing strategic relationship with Cato BioVentures and Cato Research and enables us to leverage their deep industry access to a wide range of business development opportunities in our core focus areas,” said Patrick Mooney, Echo’s chairman and CEO. Here’s the press release.

Theravance announced that it will fire 115 employees—about 40 percent of its work force—and needs to restructure, reducing its current positions in response to the completion of its Phase III development activities with telavancin, and to reduce its overall cash burn rate. Theravance made this decision in response to its report stating a net loss for the first quarter of 2008 was $29.8 million compared with $49.5 million for the same period of 2007, a decrease of $19.7 million.

Longtime Oracle customer PPD re-endorsed its Oracle Clinical RDC software, the web-based version of the technology. PPD also has its own EDC offering. Here’s a story.

CryoPort announced that the CryoPort Express Shipper created by Federal Express Sitelet is now live. Peter Berry, CEO of CryoPort, commented, “We are extremely pleased that the Sitelet is now active. This is the next phase in our development of a marketing program for the CryoPort Express Shipper.” After making several joint presentations to many potential clients, Federal Express and CryoPort have resulted in the initiation of pilot programs. Here’s an article.

Medidata Solutions announced its electronic data capture system has been certified by CDISC. Specifically, the technology company is supporting the operational data model (ODM). “Coupling innovation with adherence to industry standards is key to providing sponsors and partners with efficient, interoperable solutions that increasingly streamline the process of clinical development,” said Andrew Newbigging, senior director of research and development at Medidata. Here’s a list of ODM-certified organizations that includes three other firms (ClinPhone, eResearch Technology and XClinical).  Medidata is the only company certified in 8 different configurations of data import and export. Here’s the release.

Parexel reported quarterly earnings. Consolidated service revenue increased 28.3% to a record $245.3 million. Earnings for the quarter totaled $14.2 million, a 31 percent jump. The company’s order backlog grew 37 percent year-over-year to $1.9 billion at the end of the March period. “The new business proposal pipeline is robust, and the strength of our competitive position gives us confidence that we will continue to win significant levels of new business,” said chairman and CEO Josef H. von Rickenbach. Here’s the release.

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