BOSTON--(BUSINESS WIRE)--PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced the enhancement of its end-to-end clinical development services through its new process, called Clinical Development Optimization. The PAREXEL® Clinical Development Optimization process uses advanced technology to help expedite drug development through all four critical stages of clinical development – design, start-up, trial execution, and submission.
Two significant challenges in clinical trials today are patient recruitment and protocol-related delays. Forty-eight percent of sites miss enrollment targets, and study timelines are often extended to almost double their original length to meet enrollment levels.1 Additionally, on average, two to three protocol amendments can delay a trial by two months, with each amendment adding $500,000 in additional costs.2
"Challenges in clinical trials can translate into lost revenue and significant delays in getting new, cutting edge medicines to patients," said Sy Pretorius, M.D., Chief Scientific Officer, PAREXEL. "To help clients overcome these challenges, we applied our advanced technology services and systems to the clinical development process. The result is data we can leverage to improve protocol design, patient recruitment, site selection and feasibility, and analysis and reporting for our clients."
PAREXEL Clinical Development Optimization increases the efficiency of all stages of clinical development:
- Design: Protocol design optimization using simulations enables sponsors to identify and quantify the impact of trade-off decisions on program performance, timelines and cost.
- Start-up: Site start-up, Clinical Trial Management System (CTMS), and electronic Trial Master File (eTMF) integrated applications provide efficient distribution, collaborative compilation and e-signing of site-level regulatory documents and contracts. Clinical Trial Supplies & Logistics handles supply chain challenges and optimizes supply levels.
- Execute: Intelligent technology from the PAREXEL Informatics product line helps predict and capture core operational and scientific data.
- Submit: Data aggregation aligned with commercial decision-making strategy can help ensure the right technology and operational support for an initial regulatory application, identification of future opportunities, and product lifecycle management.
"The role of information technology in clinical development continues to grow. Clients now expect faster study start-up, advanced site feasibility, accelerated patient enrollment, real-time surveillance, risk-based monitoring, and better data standardization," said Xavier Flinois, President, PAREXEL Informatics. "Ultimately, PAREXEL Clinical Development Optimization gives our clients the tools to make technology-enabled and data-driven business decisions, helping to reduce risk, increase clinical trial efficiency, and speed time to market for our clients and for patients."
For more information about PAREXEL Clinical Development Optimization, visit PAREXEL.com/solutions/clinical-research/clinical-development-optimization/.
About PAREXEL International
PAREXEL International Corporation is a leading global biopharmaceutical services organization, providing a broad range of expertise-based contract research, consulting, medical communications, and technology solutions and services to the worldwide pharmaceutical, biotechnology and medical device industries. Committed to providing solutions that expedite time-to-market and peak-market penetration, PAREXEL has developed significant expertise across the development and commercialization continuum, from drug development and regulatory consulting to clinical pharmacology, clinical trials management, medical education and reimbursement. PAREXEL Informatics provides advanced technology solutions, including medical imaging, to facilitate the clinical development process. Headquartered near Boston, Massachusetts, PAREXEL has offices in 80 locations in 51 countries around the world, and had approximately 18,620 employees in the first quarter. For more information about PAREXEL International visit www.PAREXEL.com.
PAREXEL and PAREXEL Informatics are trademarks or registered trademarks of PAREXEL International Corporation or its affiliates.
This release contains "forward-looking" statements regarding future results and events. For this purpose, any statements contained herein that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects," "intends," "appears," "estimates," "projects," "will," "would," "could," "should," "targets," and similar expressions are also intended to identify forward-looking statements. The forward-looking statements in this release involve a number of risks and uncertainties. Such factors and others are discussed in the section entitled "Risk Factors" of the Company's most recent Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission, which "Risk Factors" discussion is incorporated by reference in this press release. The Company specifically disclaims any obligation to update these forward-looking statements in the future. These forward-looking statements should not be relied upon as representing the Company's estimates or views as of any date subsequent to the date of this press release.
1 Tufts Center for the Study of Drug Development Impact Report, January/February 2013.
2 Tufts International Journal of Environmental Research and Public Health, May 12, 2014.