PAREXEL ANNOUNCES COLLABORATIVE AGREEMENT WITH PREVENTION CONCEPTS, INC.
BOSTON, MA, June 13, 2000 — PAREXEL International Corporation (Nasdaq: PRXL) today announced that it has entered into a collaborative agreement with Prevention Concepts, Inc. (PCI) of Los Angeles, CA to offer central review services for two innovative methods of assessing risk for cardiovascular disease. Together, the companies will assist pharmaceutical and biotechnology companies in using these assessment services to speed the evaluation of new drug compounds targeted at cardiovascular disease. The services are referred to as Quantitative Intima Media Thickness (QIMT) and Flow Mediated Vasodilatation (FMD).
QIMT refers to the use of ultrasound to measure atherosclerotic plaque in the carotid artery that supplies blood to the brain. The progression of intima media thickening is significantly related to the risk of common cardiovascular events such as acute myocardial infarction (heart attack), sudden cardiac death, and stroke. FMD evaluates the ability of arteries to vasodilate when challenged by temporary, mechanically induced ischemia (e.g., inflated blood pressure cuff). FMD serves as a functional test of the endothelium, the blood vessel lining, and a decrease in dilation serves as an early marker of atherosclerosis.
"These diagnostic tests offer great potential as surrogate endpoints for the evaluation of drugs targeted at reducing atherosclerosis – such as lipid-lowering compounds and estrogens," stated Mark A. Goldberg, M.D., Senior Vice President of PAREXEL’s Advanced Technology & Informatics (ATI) Unit. "The use of surrogate endpoints can reduce significantly the time and cost associated with clinical trials," he added. According to Josef H. von Rickenbach, Chairman and Chief Executive Officer of PAREXEL, "This agreement underscores the strategy of PAREXEL’s ATI Unit to partner with industry leaders in technology and medical diagnostics." "PAREXEL is committed to monitoring and identifying new medical diagnostic services and technological advancements," he said.
"PCI has been focused on the early detection of risk for cardiovascular disease and we are delighted to bring this capability to enhance drug development in partnership with PAREXEL, a leader in clinical development," said Jacques D. Barth, M.D., Ph.D., President and CEO of Prevention Concepts, Inc. "Our research and that of other leading clinicians has shown that carotid intima media thickness (IMT) is directly associated with the risk of heart attack and stroke in adults. Thus quantitative assessments of the carotid artery's IMT may replace angiography and even blood cholesterol readings as the primary screening tool for coronary artery events. Similarly, our FMD tool for assessing the accumulation of arterial plaque may be a valuable alternative method for detecting early atherosclerosis."
This release may contain "forward-looking" statements 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.