DataTrak, the Cleveland eclinical suite, announced bleak financial results. Revenues dropped 34 percent to $4.3 million. Writing off the value of its ClickFind acquisition, DataTrak recorded a loss of $18.2 million. “We continue to sign new business with both existing and new customers and were very pleased with the level of industry interest shown in our unified platform at the annual DIA conference in June,” said Jeff Green, the company’s CEO. Here’s the SEC filing.

Clinilabs has completed the expansion of its Phase I unit. This expansion brings the Clinilabs’ Phase I facility to 68-beds, which includes two new large observation rooms that can accommodate up to four beds each. “Phase I studies are becoming increasingly complex and sponsors depend on data from these studies to make crucial decisions about their development programs,” stated Gary Zammit, president and CEO of Clinilabs. “Clinilabs’ state-of-the-art facility is an ideal location for pharmaceutical and biotechnology companies looking for outstanding service for their Phase I studies.” Clinilabs Phase I facility is staffed with highly qualified physicians, nurses, and research associates, providing service twenty-four hours a day, seven days a week.

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Chiltern appointed Maria Sanchez Garcia to lead its staffing group in Spain, Nannette Penny is promoted within the UK, and Hannah King joins the UK team to focus on recruitment for the central European region.

Parexel International announced financial results for the fourth quarter. Consolidated service revenue increased 32.6 percent to a record $272.2 million. Josef von Rickenbach, Parexel’s chairman and CEO stated, “The fourth quarter’s financial results capped a strong fiscal year for Parexel. We posted record service revenue in the fourth quarter, and achieved full year service revenue growth of 30 percent, or approximately 19 percent on a same-store constant currency adjusted basis. All business segments contributed to the positive full-year results.”

United BioSource Corporation (UBC) entered into a strategic partnership with CogState to increase the ability for pharmaceutical and life sciences companies to conduct cognitive testing in clinical trials. Customers will be able to leverage both companies’ scientific resources, software capabilities and global operations to support full-scale clinical development programs. UBC and CogState have partnered to advance the field of cognitive assessment in clinical trials through provision of an integrated cognitive testing solution for use in Phase I through IV clinical trials internationally.

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Velos announced it expects to reach 50 percent of its target market by year end. The company’s flagship product, Velos eResearch, targets the needs of medical researchers in large academic institutions. The company is basing its assertion on inspections of the 100 largest NIH grant recipients that conduct clinical research. “Fifty percent is a pretty good level of market penetration to achieve five years from product launch, which reflects quite a bit of preparation work,” observed John McIlwain, president and CEO of Velos. Here’s the release.

Covance bought a 450-acre research facility from Lilly. Under the agreement, Covance will acquire Lilly’s early drug development campus in Greenfield, Indiana, for $50 million and offer employment to 260 Lilly employees. Covance will provide Lilly with a broad range of drug development services over the next ten years for a contract value of $1.6 billion. Under the agreement, Covance will assume ownership of the site and operations on about October 1, 2008. Lilly will transfer responsibility to Covance for its non-GLP toxicology, in vivo pharmacology, quality control laboratory, and imaging services. In addition, the contract includes a committed level of clinical pharmacology, central laboratory, GLP toxicology studies, and clinical Phase II-IV services. “Today’s announcement represents an innovative approach to the R&D productivity challenges our pharmaceutical clients are facing,” said Joe Herring, Covance chairman and CEO.

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