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goBalto Partners with Pharma Services Network to Help Sponsors Evaluate Leading CROs

Leading CROs Now Available on goBalto.com

SAN FRANCISCO, CA – June 23, 2009 – goBalto, a professional social networking site for the pharmaceutical development and drug manufacturing industry, announced today that Pharma Services Network is making its proprietary list of Clinical Research Organizations (CROs) available on goBalto.com.

Pharma Services Network facilitates the strategic global outsourcing of clinical trials. Its proprietary list of global CROs, now listed on goBalto, is divided into two categories: “Recommended by Pharma Services Network” and “Represented by Pharma Services Network.” “Recommended by” indicates Pharma Services Network has identified these CROs as quality service providers. Pharma Services Network can facilitate information about, and introductions to, these recommended CROs. “Represented by” indicates Pharma Services Network has visited the facility, met with senior management and endorses the company’s specific capabilities. Pharma Services Network actively represents these CROs to clinical trial sponsors in the USA.

In either case, pharmaceutical sponsors may contact Pharma Services Network through the goBalto.com website in order to evaluate the listed CRO services. Pharma Service Network’s page on goBalto.com is at http://www.gobalto.com/companies/pharma-services-network

Since launching in April, goBalto has listed more than 7,000 businesses, which represent, clinical research, investigator sites, generic suppliers, contract manufacturers and consulting professionals from all over the world.

According to Pharma Services Netowork, pharmaceutical and biotech developers in the USA spend more than $10 billion annually to outsource clinical studies of new drug compounds. That represents more than half of the entire global market. A growing percentage of the outsourcing dollars are being spent abroad, particularly in emerging markets like Brazil, Russia, India, and China. Pharma Services Network specializes in connecting sponsors to quality service providers in these distant markets. “Acquiring Pharma Services Network’s proprietary list is a great opportunity for the goBalto community,” said Jae Chung, founder and CEO, goBalto. “Pharma Services Network brings a lot of experience in evaluating and managing CROs from all over the world, thereby streamlining the sponsor’s outsourcing initiatives.”

“We were delighted to see goBalto launch its drug development partnering platform last month and to observe its initial rapid growth,” said Jim Worrell, CEO of Pharma Services Network. “Over the past five years we have created close relationships with an extensive network of clinical research organizations around the world. Together, Pharma Services and goBalto can help clinical study sponsors find and qualify the right CRO partners – quickly, efficiently, and with the added confidence that our USA-based customer service provides.”

Pharma Services Network’s brings exclusive relationships with leading CROs, such as Swiss Pharma Contract (Covance) www.pharmacontract.ch and Eurotrials Brasil www.eurotrials.com, to the list of over 7,000 potential service providers profiled on goBalto. For sponsors looking to evaluate and select vendors, all goBalto profiles are searchable on technical expertise, facilities, commercial terms and quality, among other characteristics. The goBalto platform allows users to rate companies, post comments to vendors and evaluate service providers.

About goBalto

goBalto develops next-generation, cloud-based solutions that simplify how clinical trials are conducted in the pharmaceutical, biotechnology, and medical device industries. Our flagship product, Tracker, is a purpose-built software-as-a-service clinical research tool. It enables clinical trial sponsors and research organizations to track and collaborate on operational data in a transparent, regulatory-compliant, and user-friendly way. Founded in 2008 in Silicon Valley by biotechnology industry veteran Jae Chung, goBalto is backed by leading health technology investors. For more information, visit www.gobalto.com.


About Pharma Services Network

Since 2002, Pharma Services Network has helped biopharm sponsors find “The Right CRO, Right Now.” Sponsors can save development costs, reduce their regulatory filing time, and ultimately get to market faster by using Pharma Services Network as a conduit to leading specialty CROs around the world. The company pre-qualifies all CROs based on GCP / GLP, FDA audits, financial stability, past performance and strong management. PSN’s professional project managers are also available to smooth the entire process of outsourcing clinical trials to global markets. The company is headquartered in Charlotte, North Carolina.


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