Averion Reports 2007 Financial Results.

SOUTHBOROUGH, Mass. -- Averion International Corp. (OTCBB:AVRO), an international clinical research organization (CRO) specializing in oncology, cardiovascular and medical devices, today announced financial results for the twelve months ended December 31, 2007.

2007 Business and Financial Highlights:

* On October 3, 2007, we sold our former staffing services operating segment to members of management of that operating segment. The divestiture of this segment has allowed management to focus on its CRO business.

* On October 31, 2007, we acquired Hesperion AG ("Hesperion"), an international CRO based in Switzerland, with operations in eight countries. The acquisition of Hesperion significantly strengthened our presence in Europe and significantly improved our capabilities to manage large global clinical trials.

* On October 31, 2007, we completed a $26 million financing to fund the acquisition of Hesperion.

* Net service revenues for 2007 were $34.8 million, an increase of 163% compared to 2006, largely as a result of the Averion Inc. acquisition on July 31, 2006 and the Hesperion acquisition.

* Loss from continuing operations for 2007 was $3.9 million, compared with a loss of $4.6 million for 2006.

* Clinical research backlog increased to $74.7 million as of December 31, 2007 compared with backlog of $35.6 million as of December 31, 2006, primarily due to the Averion Inc. and Hesperion acquisitions.

"We are realizing benefits from our acquisition late last year of Hesperion, which doubled the size of Averion to more than 400 professionals working in 14 countries worldwide," said Markus H. Weissbach, MD, PhD, Averion International's Chief Executive Officer. "With our broader geographic base, expanded client relationships, and added capabilities for managing full-service, large global clinical trials, we are well-positioned to capitalize on the growing trend favoring clinical trial outsourcing. I am extremely pleased with the progress we are making in integrating our operations."

Averion reported net service revenues during 2007 of $34.8 million, a $21.6 million increase, compared with $13.2 million during 2006. The increase in net service revenues during 2007 is primarily attributed to the inclusion of a full year of net service revenues associated with the acquisition of Averion Inc. and the completion of the Hesperion acquisition.

Direct expenses during 2007 increased to $20.7 million versus $8.2 million during the prior year. Direct expenses as a percentage of net service revenues decreased to 59% in 2007 from 62% in 2006. The improvement in direct expenses as a percentage of net service revenues was principally the result of an increase in the number of clinical studies, primarily obtained through the acquisitions of Averion Inc. and Hesperion, and an associated increase in staff utilization on clinical study activities.

Selling, general, and administrative expenses (SG&A) were $13.8 million in 2007 compared with $8.9 million during 2006. As a percentage of net revenues, SG&A expenses decreased to 40% in 2007 from 67% in the prior year. The improvement in SG&A expenses as a percentage of net service revenues for 2007 was principally the result of the increase in net service revenues, which allowed the Company to more efficiently leverage its existing infrastructure.

Net loss from continuing operations for 2007 was $3.9 million, compared with a net loss from continuing operations of $4.6 million for 2006. The Company reported a loss from its discontinued staffing services operating segment of $1.4 million during 2007 versus $0.5 million during the prior year.

Net loss applicable to common stockholders for 2007 was $5.3 million, or $0.01 per share. This compares with a net loss applicable to common stockholders during 2006 of $9.2 million, or $0.02 per share.

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 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 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 operations in the Czech Republic, Slovakia, and Hungary and partnerships in India 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; 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.

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