Phase Forward Named Private Sector Company of the Year by Mass Technology Leadership Council

WALTHAM, Mass.--(BUSINESS WIRE)--Phase Forward (NASDAQ: PFWD), a leading provider of data management solutions for clinical trials and drug safety, today announced the Mass Technology Leadership Council, Inc. named Phase Forward Private Sector Company of the Year at the 2009 Mass Technology Leadership Awards in Boston last night. Honoring Massachusetts companies and individuals who best exemplify leadership and excellence in business and technology, the Technology Leadership Awards recognize outstanding achievement in both the development and deployment of technologies.

“Under the direction of an excellent executive team the company’s consistent drive to innovate has enabled it to flourish. We congratulate Phase Forward on distinguishing itself in a region whose commitment to innovation consistently produces very successful technology companies.”

“Phase Forward has established itself as one of Massachusetts’ premier technology success stories,” said Tom Hopcroft, president and CEO of the Mass Technology Leadership Council. “Under the direction of an excellent executive team the company’s consistent drive to innovate has enabled it to flourish. We congratulate Phase Forward on distinguishing itself in a region whose commitment to innovation consistently produces very successful technology companies.”

Accepting the award was Phase Forward Chairman and CEO Bob Weiler, himself a recipient of the CEO of the year award at the 2006 Mass Technology Leadership Awards. “I proudly accept this award on behalf of the Phase Forward employees and customers around the world who have made our company the success it is today,” said Weiler. “On this occasion I would also like to acknowledge Phase Forward’s founder Paul Bleicher, whose vision for automating clinical trials and entrepreneurial drive set our company in motion. We are ardent supporters of the great work MTLC does advancing technological innovation in Massachusetts, and proud to be honored by an organization of this caliber.”

About Mass Technology Leadership Council, Inc.

Formed by the powerful combination of Mass Software Council and New England Business and Technology Association, Inc., the organization is dedicated to fostering entrepreneurship and promoting the success of companies that develop and deploy technology across industry sectors. The Mass Technology Leadership Council accomplishes its mission by conducting educational programs and hosting signature events, facilitating networking between industry executives and potential partners, investors, and customers, sponsoring research on the industry, engaging in activities to enhance the quality and quantity of the next generation of technology professionals, advocating in favor of technology policies that promote innovation and entrepreneurship, and recognizing industry-leading companies and people.

About Phase Forward

Phase Forward is a leading provider of integrated data management solutions for clinical trials and drug safety. Phase Forward’s products and services have been utilized in over 10,000 clinical trials involving more than 1,000,000 clinical trial study participants at over 300 organizations and regulatory agencies worldwide including: AstraZeneca, Boston Scientific, Dana-Farber Cancer Institute, Eli Lilly, the U.S. Food and Drug Administration, GlaxoSmithKline, Harvard Clinical Research Institute, Merck Serono, Novartis, Novo Nordisk, PAREXEL International, Procter & Gamble, Quintiles, sanofi-aventis, Schering-Plough Research Institute, Servier, SGS, Tibotec and the U.K. Medicines and Healthcare Products Regulatory Agency. Additional information about Phase Forward is available at www.phaseforward.com.

Cautionary Statement

Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains express or implied forward-looking statements relating to, among other things, the performance of Phase Forward’s products and services, continued market acceptance of Phase Forward’s products and services, and the ability of Phase Forward’s customers to realize benefits from the use of Phase Forward’s products and services. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond Phase Forward's control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. In particular, the risks and uncertainties include, among other things, the ability of Phase Forward’s customers to realize benefits from the use of its products and services, the possibility that customers’ needs or plans may change over time, and the introduction or improvement of products and services competitive with those of Phase Forward. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Phase Forward undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional disclosure regarding these and other risks faced by Phase Forward, see the disclosure contained in Phase Forward's public filings with the Securities and Exchange Commission including, without limitation, its most recent Annual Report on Form 10-K.