PAREXEL AND PHT Clinical Networks ANNOUNCE COLLABORATIVE AGREEMENT
BOSTON, MA, June 13, 2000 — PAREXEL International Corporation (Nasdaq: PRXL) and PHT Clinical Networks have signed a collaborative agreement to provide pharmaceutical clients with access to new electronic data capture systems for clinical research. Through the collaboration, PAREXEL and its customers will be able to utilize PHT’s web-based electronic data capture and data management system, known as the Esendant™ Clinical Network, including its Palm Pilot®-based data capture systems for patients and investigators (LogPad®). PHT offers the life science’s first open architecture system for end-to-end clinical trial data collection and management.
Under the terms of the agreement, PAREXEL will combine PHT’s powerful Electronic Data Capture (EDC) tools for the collection and handling of clinical trial data with its worldwide clinical research offerings. The combination of PHT’s software tools and PAREXEL’s clinical and technological expertise creates a unique service offering to help bring new efficiencies and higher quality to the drug development process.
"We are pleased to offer, for the benefit of our clients worldwide, these additional electronic data capture options as part of our e-Services portfolio," said Mark A. Goldberg, M.D., Senior Vice President of PAREXEL’s Advanced Technology & Informatics (ATI) Business Unit. "This agreement is a key example of PAREXEL’s strategy to provide our clients with cutting-edge technologies and information systems to lower costs, streamline clinical trial processes, facilitate decision making, and better manage product portfolios."
"PHT’s extensive experience in the design of EDC technology systems fits well with PAREXEL’s focus on innovation in clinical research services," noted James D. Utterback, Chief Executive Officer of PHT. "By capturing crucial trial information regarding medications, physical activity levels, and adverse events without paper questionnaires, Esendant™ allows its users to have immediate access to trial data during the study, allowing sponsors to enhance trial execution. While 80% of all clinical research projects still use paper, the recent expansion in the use of web-based tools and hand-held data capture devices positions PHT at the forefront of modern drug development strategies."
PHT Clinical Networks is a leading provider of web-based clinical trial Direct Data Capture and data management technologies designed to support the development of better medicine by improving the quality and efficiency of clinical trials. Leading pharmaceutical, biotech and medical device companies are using PHT's technology to improve the integrity, safety and speed of the clinical trial process. PHT's Esendant™ Patient LogPad, a handheld device that allows for real-time patient data exchange between patients, clinical investigators and sponsor companies, is being used by thousands of patients in clinical trials throughout the globe. PHT is headquartered in Boston and can be found on the Web at www.phtcorp.com.
This release may contain "forward-looking" statements of PAREXEL regarding future results and events, including statements regarding expected financial results, future growth and customer demand. The Company's actual future results may differ significantly 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: the cancellation or delay of contracts; the Company's dependence on certain industries and clients; the Company's ability to manage growth and its ability to attract and retain employees; the Company's ability to complete additional acquisitions and to integrate newly acquired businesses; government regulation of certain industries and clients; competition and consolidation within the pharmaceutical industry; the potential for significant liability to clients and third parties; the potential adverse impact of health care reform; and the effects of exchange rate fluctuations. These 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 March 31, 2000.
PAREXEL is one of the largest contract pharmaceutical outsourcing organizations in the world, providing a broad range of knowledge-based contract research, medical marketing and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries. With a commitment to providing solutions that accelerate time-to-market and peak market penetration, PAREXEL has developed significant expertise in clinical trials management, data management, biostatistical analysis, medical marketing, clinical pharmacology, regulatory and medical consulting, industry training and publishing and other drug development consulting services. The Company’s integrated services, therapeutic area depth and sophisticated information technology, along with its experience in global drug development and product launch services, represent key competitive strengths. Headquartered near Boston, MA, PAREXEL operates in 43 locations throughout 29 countries around the world, and has approximately 4,275 employees.