BOSTON -- PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, today announced the continued expansion of its clinical trial site alliance network, an extensive network of investigator sites and Site Management Organizations(SMOs) that enables PAREXEL to quickly access and enroll patient populations for clients' clinical trials worldwide.
Patient recruitment is one of the most significant clinical trial challenges. Difficulties in patient enrollment delay 81 percent of clinical trials one to six months, with another five percent postponed six months or more.
To address this challenge, PAREXEL developed its Site Alliance network, currently consisting of more than 180 members plus several SMOs, together providing access to approximately 6,000 investigators worldwide. The SMOs alone have a combined database of 7.5 million patients in more than 25 countries. The network's size and scope enable faster patient recruitment, evaluation and enrollment in clinical trials; foster greater collaboration between PAREXEL and sites on behalf of clients; and ensure quality across multiple sites.
"Recruiting and enrolling patients is a fundamental and critical need in clinical trials. Recruitment difficulties can translate into lost revenue and significant delays in getting new, cutting edge medicines to patients," said Mark A. Goldberg, M.D., President and Chief Operating Officer, PAREXEL. "Through our extensive Site Alliance network, PAREXEL has the quality relationships and expertise to provide a solution to this challenge and help our clients meet their clinical trial recruiting and enrollment needs."
Recently, PAREXEL used one of its Site Alliance network partners to recruit more than 8,250 people across 40 sites for a Phase IIIclinical trial. The team was able to randomize the first patient within five weeks -- several months ahead of schedule -- helping create a cost saving of close to 40 percent.
"PAREXEL has developed a strategic and relationship-driven approach to address one of the most critical challenges in the clinical trials journey -- the patient enrollment process," said Paul Evans, Vice President and Global Head, Feasibility and Enrollment Solutions, PAREXEL. "Through our Site Alliance network, we're better able to help pharmaceutical companies improve patient enrollment and accelerate the pace of clinical trials -- making it possible to reduce time to market."
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, Inc. provides advanced technology solutions, including medical imaging, to facilitate the clinical development process. Headquartered near Boston, Massachusetts, PAREXEL operates in 81 locations in 51 countries around the world, and has approximately 16,530 employees. 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. The Company's actual future results may differ materially from the results discussed in the forward-looking statements contained in this release. Important factors that might cause such a difference include, but are not limited to, risks associated with: actual operating performance; actual expense savings and other operating improvements resulting from restructurings; the loss, modification, or delay of contracts which would, among other things, adversely impact the Company's recognition of revenue included in backlog; the Company's dependence on certain industries and clients; the Company's ability to win new business, manage growth and costs, and attract and retain employees; the Company's ability to complete additional acquisitions, and to integrate newly acquired businesses including the acquisition of ClinIntel Limited, or enter into new lines of business; the impact on the Company's business of government regulation of the drug, medical device and biotechnology industry; consolidation within the pharmaceutical industry and competition within the biopharmaceutical services industry; the potential for significant liability to clients and third parties; the potential adverse impact of health care reform; and the effects of foreign currency exchange rate fluctuations and other international economic, political, and other risks. Such factors and others are discussed more fully in the section entitled "Risk Factors" of the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2014 as filed with the Securities and Exchange Commission on November 3, 2014, 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.
Diana Martin, PAREXEL International
Tel: +1 781-434-5516
Email: [email protected]
Cristi Barnett, PAREXEL International
Tel.: +1 781-434-4019
Email: [email protected]
Matthew Briggs, PAN Communications
Tel: +1 617-502-4300
Email: [email protected]
 Site Management Organizations are organizations that provide clinical trial-related services to pharmaceutical companies and CROs. SMOs often manage multiple sites, offering access to more patients and locations for CROs and pharmaceutical companies.
 Thomson CenterWatch Survey, "State of Clinical Trials Research," 2004.