Merck teams with Parexel for biosimilars

Merck is boosting its biologics unit in a deal with Parexel. The CRO will provide its clinical development services for Merck BioVenture, including access to regulatory strategy and clinical development planning services for the development of broad classes of biosimilars. Additionally, a dedicated Merck BioVentures unit will be established within Parexel's organization. Financial details of the deal were not disclosed.

Merck BioVentures was founded in 2008 to to develop new biotech drugs and follow-on biologics. One of the key components of the unit is Glycofi, a company Merck acquired in 2006 for $400 million. Glycofi's technology uses yeast instead of mammal cells to make proteins to developing new versions of older biologics.

"Through this agreement, Merck BioVentures has secured broad strategic access to PAREXEL's proven biosimilar clinical development experience," said Michael Kamarck, president of Merck BioVentures. "This agreement positions Merck BioVentures for success with an industry leading partner that has the expertise and resources to conduct clinical development of our diverse portfolio of candidates to allow timely delivery of products to the marketplace."

- here's Merck's release on the alliance