EXHIBIT 99.1
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FOR IMMEDIATE RELEASE
PHOENIX INTERNATIONAL DIVESTS 20% OF PHARMACEUTICAL SOFTWARE DIVISION
Spin-off to create independent pharmaceutical software solutions
Company called INTEGRAWARE
Montreal, Quebec - November 4, 1999 - Phoenix International Life Sciences Inc.
(NASDAQ: PHXI; TSE/ME: PHX) today announced the divestment of 20% of its
pharmaceutical software division to employees. The divestiture will result in
the formation of a new company called INTEGRAWARE, majority owned by Phoenix.
"This initiative reflects our increasing focus on our core clinical research
business," said Ian Lennox, CEO of Phoenix International. "Phoenix will remain
an important customer of INTEGRAWARE and will continue as a shareholder in the
company."
INTEGRAWARE develops and markets innovative e-R&D software solutions for global
pharmaceutical drug development. The company's protocol-driven and study-based
systems are designed to integrate and accelerate bioanalysis, pharmacokinetics,
metabolism, chromatography and other clinical activities. INTEGRAWARE also
provides extensive services including, implementation, validation, training and
software customization. In addition, INTEGRAWARE provides support for protocol
design as well as sample and laboratory management. Its e-R&D automated
solutions enhance formulation preparation, simplify drug administration, and
facilitate sample collection to optimise data integrity and accelerate drug
development.
Jim Conklin, President and CEO of INTEGRAWARE, stated, "INTEGRAWARE will provide
state-of-the-art service and solutions to a wide range of customers in the
pharmaceutical, biotechnology, and contract research (CRO) industries. As part
of Phoenix, we have developed extensive experience, industry expertise and a
strong reputation for innovation. We look forward to building on our core
competencies and establishing ourselves as a key player in the pharmaceutical
software marketplace."
Ian Lennox, CEO, Phoenix International, added: `Today, even though INTEGRAWARE
leaves Phoenix and becomes a distinct business entity, we remain an important
customer. INTEGRAWARE brings with it some of the top scientific minds in the
business and will provide its customers with cutting-edge software solutions.'
About Phoenix International
Phoenix International is one of the world's leading contract research
organizations. The Company provides a wide spectrum of clinical, analytical,
preclinical, drug discovery support and ancillary services to the pharmaceutical
and biotechnology industries. Since beginning its operations in 1989, Phoenix
International has grown to approximately 2,400 employees worldwide, of whom more
than 215 have either medical degrees or PhD's and over 240 others have masters
level education. Headquartered in Montreal, Quebec, Phoenix International has
operations throughout Europe and North America and research facilities in
Australia, Israel and South Africa. Phoenix International is on the world wide
web at www.pils.com.
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This release contains "forward-looking" statements regarding future results and
events, including statements regarding expected future revenues, earnings and
growth rates and goals and operating plans of management. Phoenix's actual
future results may differ significantly from the results discussed in the
forward-looking statements contained in this release. Factors that may cause
such a difference include, but are not limited to: the inability of Phoenix to
win new business at the levels required; the cancellation or delay of contracts;
risks associated with the management of growth and the ability to attract and
retain employees; risks of integrating newly acquired businesses; competition;
any claims for patent infringement; unanticipated costs in connection with Year
2000 conversion; the ability to obtain future financing; adverse regulatory
developments; foreign exchange rate fluctuations; and uncertainty surrounding
the Euro.
FOR MORE INFORMATION, PLEASE CONTACT:
Michael S. Oleksiw Richard Gareau
Director, Marketing Director, Communications
Integraware Inc. Phoenix International
Tel: (514) 335-8336 Tel.: (514) 333-0042
Fax: (514) 335-8338 Fax: (514) 333-7306
E-mail: michael.oleksiw@integraware.com E-mail: gareaur@pils.com
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