Parexel teams with Rutgers for clinical trials

Parexel ($PRXL) has united with the Rutgers New Jersey Medical School in a long-term deal to host clinical trials on campus, giving the school a boost to its clinical research unit.

Neither side provided financial details, but the agreement will allow Parexel to conduct early- to late-phase studies at the school, tap its experts and use its electronic medical records, all with the goal of planning, developing and executing clinical trials on short timelines, the school said.

"Our collaboration with Parexel will further strengthen the capabilities of New Jersey Medical School's clinical research center unit, which conducts clinical trials in a wide variety of medical specialties," Senior Associate Dean William Gause said in a statement. "With Parexel, NJMS looks forward to further developing our academic enterprise and biomedical research presence, as well as increasing patient recruitment and referrals."

The deal follows a trend in academia as schools open their doors to CROs and others in the industry to generate revenue and, in some deals, provide students with first-hand clinical trial experience. Both Icon ($ICLR) and ClinTec have paired up with universities to train graduates on trial management, while Catalent and NeuroNEXT have launched efforts to bring academia and industry together for drug development.

Other schools have cut out middlemen altogether, launching CROs of their own and competing for partnerships. Duke has perhaps the most successful model, and, over the past year, Texas Tech and West Virginia universities have kicked off similar offerings.

- read the announcement