Phase Forward Celebrates Five Years on NASDAQ

Anniversary Marks Sustained Growth, Consistent Increases in Profitability and
Expanded Global Footprint
WALTHAM, Mass.--(Business Wire)--
Phase Forward (NASDAQ: PFWD), a leading provider of data management solutions
for clinical trials and drug safety, today announced that Chairman and CEO Bob
Weiler will ring the Opening Bell at The NASDAQ Stock Market on Tuesday, July
14, to celebrate the fifth anniversary of the company`s listing on NASDAQ. Phase
Forward`s products and services help biopharmaceutical and medical device
companies bring therapies to market more efficiently and cost-effectively.

"It`s been a privilege to partner with our customers over the last five years in
the optimization of global pharmaceutical development - work we view as both an
honor and a responsibility," said Weiler. "We value our relationship with
NASDAQ, which has provided a stable and powerful trading platform for investors
and a foundation on which to expand our business from an EDC pioneer to a
provider of global, end-to-end, integrated clinical research systems (ICRS)."

Moving an Industry Forward

Since the company`s initial public offering in 2004, Phase Forward has
established a strong market leadership position and delivered consistent growth.
Its accomplishments include:

* An increase in total GAAP revenues from approximately $73.7 million in 2004 to
$170.2 million in 2008
* An increase in non-GAAP operating income from 8% of revenues in 2004 to 16% in
2008, a compound annual growth rate of over 35%
* Raising $89.1 million in a successful secondary offering of its common stock
* Expanding its client base to more than 290 direct customers worldwide, with
more than 100 additional organizations utilizing its products and services
through its Contract Research Organization (CRO) relationships
* Growing its employee base from 349 employees to over 850 today
* Expanding its global footprint to end-users in 112 countries with 11 offices
worldwide
* Reaching a milestone of 3,000 clinical trials with its flagship, award-winning
InForm product
* Acquiring four companies with best-of-breed technologies - Lincoln
Technologies, Green Mountain Logic, Clarix LLC and Waban Software - to provide
customers with a comprehensive set of solutions for clinical data and safety
management

"Phase Forward`s success is due to the vision of our customers, the dedication
of our employees and the commitment of the industry as a whole to leveraging
technology to further advance drug development and safety," continued Weiler.
"Over the next five years, as biopharmaceutical and medical device companies
continue to intensify their development activities, we will continue to push
today`s technological boundaries to help ensure that the world`s much-needed
therapies are brought to market as efficiently as possible."

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 290 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, Tibotec and the U.K. Medicines and
Healthcare Products Regulatory Agency. Additional information about Phase
Forward is available at www.phaseforward.com.

A reconciliation of GAAP to non-GAAP operating income has been provided on the
Company`s website at
http://investor.phaseforward.com/phoenix.zhtml?c=177364&p=irol-irhome.

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, Phase Forward's expectations and assumptions concerning
management's forecast of financial performance, the performance of Phase
Forward's products and services, future business and operations plans of Phase
Forward's customers, the ability of Phase Forward's customers to realize
benefits from the use of Phase Forward's products and services, and management's
plans, objectives and strategies. 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 historical results and from those contemplated in these
forward-looking statements. In particular, the risks and uncertainties include,
among other things, changes in our customers' industries; our ability to
convince prospective customers to adopt our solutions; competition and changes
in competition during future periods; changing customer requirements;
governmental regulation; fluctuations in our operating results; our dependence
on a limited number of customers or suppliers; product performance; third party
service interruptions or delays; technology failures; our ability to maintain
customer relationships and contracts; our ability to retain and hire skilled
personnel; our ability to protect our intellectual property rights; product
liability or intellectual property infringement claims brought against us;
acquisitions; our ability to manage our rapid growth; and the volatility of the
market price of our common stock. 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.

Phase Forward
Elaine Maynard, 781-902-4371
elaine.maynard@phaseforward.com
or
CHEN PR, Inc.
Randy Wambold, 781-672-3119
rwambold@chenpr.com

Copyright Business Wire 2009