PAREXEL AND METAWORKS COLLABORATE TO OFFER EVIDENCE-BASED TOOLS THAT ENHANCE THE CLINICAL DEVELOPMENT AND COMMERCIALIZATION OF NEW DRUGS
BOSTON, MA, May 29, 2001 — PAREXEL International Corporation (Nasdaq: PRXL) today announced a collaborative agreement with MetaWorks, Inc. to offer evidence-based clinical information services to pharmaceutical, biotechnology and medical device clients. Using MetaWorks’ information management platform, PAREXEL will assist clients in identifying potentially promising novel clinical properties and comparing safety profiles of new and existing therapies throughout the life cycle of a product.
Meta-analysis is the quantitative synthesis of evidence developed in systematic reviews. The statistical pooling of data from multiple clinical trials facilitates drawing conclusions that often cannot be drawn from single study results. Through the use of MetaWorks’ proprietary trial database, PAREXEL will offer clients access to large-scale statistical trial results in targeted therapeutic areas. Clients can apply this predictive data in support of regulatory submissions, as well as to develop brand awareness, cost-effective analyses and product positioning.
“Our collaboration with MetaWorks supports our strategy and commitment to improving the clinical development and commercialization process through innovative scientific research methods,” said Warren Stern, Ph.D., Senior Vice President of PAREXEL’s Scientific and Medical Services. Dr. Stern also noted, “By offering clients information derived from MetaWorks’ unique data extraction, retrieval and meta-analytic capabilities, PAREXEL may support the validity of certain product claims and competitive positioning without the need to conduct additional clinical trials.”
“PAREXEL is ideally suited to assist MetaWorks in further extending its meta-analytic expertise into the clinical research market,” said Susan Ross, M.D., President and co-founder of MetaWorks. “We highly value PAREXEL’s leadership in the area of comprehensive clinical trials management and through this mutually rewarding relationship hope to provide enhanced clinical development value to clients.”
Overview of PAREXEL
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 expedite 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. Its newest subsidiary, Perceptive Informatics, Inc., provides a variety of technology products and services, including web-based portal solutions and voice and data systems, which are designed to accelerate and enhance the clinical development and launch processes. 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 51 locations throughout 29 countries around the world, and has approximately 4,550 employees.
Overview of MetaWorks
MetaWorks, Inc. is a recognized leader in providing systematic reviews, meta-analysis and other related analytical tools for the pharmaceutical, biotechnology and healthcare industries. MetaWorks specializes in acquiring, synthesizing, analyzing, interpreting and delivering medical information that transforms raw data into actionable evidence. Its proprietary clinical trial database application, MetaMaps™, is a strategic planning tool that provides treatment options, patient characteristics, efficacy and safety outcomes data from clinical trials in a specific disease or therapeutic area. MetaWorks' clients utilize evidence derived from existing, published medical information to support regulatory submissions, clinical trial planning and marketing claims. The company’s designation as
an Evidence-based Practice Center by the Agency for Healthcare Research and Quality (AHRQ) established MetaWorks as a reliable and expert resource for evidence-based medical information. More information can be found at http://www.metaworksinc.com.
This release may contain "forward-looking" statements regarding future results and events, including statements regarding expected financial results, future growth and customer demand that involve a number of risks and uncertainties. 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" and similar expressions are intended to identify forward-looking statements. PAREXEL'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: actual operating performance; actual expense savings and other operating improvements resulting from recent restructurings; the cancellation, revision, or delay of contracts, including those contracts in backlog; PAREXEL's dependence on certain industries and clients; PAREXEL's ability to manage growth and its ability to attract and retain employees; PAREXEL's ability to complete additional acquisitions and to integrate newly acquired businesses or enter into new lines of business; 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. Such factors and others are discussed more fully in the section entitled "Risk Factors" of PAREXEL's Form 10-Q for the period ended March 31, 2001 as filed with the Securities and Exchange Commission.