PERCEPTIVE INFORMATICS, INC. AND VERITAS MEDICINE ANNOUNCE STRATEGIC PARTNERSHIP
BOSTON and CAMBRIDGE, MA, June 27, 2001 — Perceptive Informatics, Inc., a subsidiary of PAREXEL International Corporation (Nasdaq: PRXL), and Veritas Medicine today announced the formation of a strategic alliance to enhance clinical trial patient enrollment. According to the terms of the agreement, Perceptive Informatics will integrate Veritas Medicine’s online recruitment capabilities with its Web-based portal solutions. This integrated offering will take advantage of Veritas Medicine’s online services providing information on disease-specific treatment options and ongoing clinical trials, as well as its proprietary matching algorithm which links interested and eligible patients with specific studies. Perceptive will offer these services with its own portal solutions to both accelerate patient recruitment and provide sponsors with real-time feedback on enrollment status.
“Our collaboration with Veritas Medicine supports our strategy and commitment to offer information technology tools designed to reduce the cost, risk and time involved in the clinical development process,” said Mark A. Goldberg, M.D., president of Perceptive Informatics. “By combining access to Veritas Medicine’s services and our project management portals, Perceptive offers a Web-based solution to address one of the significant challenges in clinical trial conduct—patient recruitment.”
“PAREXEL’s worldwide sales capabilities, brand leadership and pharmaceutical industry customer franchise are key elements of this agreement,” said Joe Avellone, M.D., CEO of Veritas Medicine. “This further expands our collaborative relationships with Big Pharma to reach the common goal of bolstering patient recruitment in order to accelerate the availability of breakthrough medical treatments.”
Overview of Perceptive
Perceptive Informatics, Inc. develops and offers a portfolio of sophisticated and innovative technology-based products and services that facilitate clinical drug development and are designed to decrease time to peak sales. The technology portfolio includes Web-based portal solutions, Interactive Voice Response Systems (IVRS), electronic data capture and electronic diary solutions. Perceptive also offers advanced medical diagnostics services to assess rapidly and objectively the safety and efficacy of new drugs, biologics and medical devices in clinical trials. The Company is headquartered near Boston, MA with approximately 150 employees in offices located throughout North America and Europe. Perceptive Informatics is a subsidiary of PAREXEL International Corporation, 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. Additional information can be found at www.PAREXEL.com.
Overview of Veritas Medicine
Based in Cambridge, Mass., Veritas Medicine is the first comprehensive online medical resource developed to address the needs of patients, physicians and other healthcare professionals and pharmaceutical sponsors through a centralized and highly secure online resource that provides expert, reliable and up-to-date information about clinical trials and innovative treatments. Veritas Medicine adheres to the strictest standards protecting the confidentiality of its users. It is a member of the Board of Directors of Hi-Ethics (Health Internet Ethics) and the site has received the Seal of Approval from the Health On The Net Foundation (HonCode). These are two of the leading organizations for ensuring privacy, security, credibility and reliability of medical and health information on the Internet. The company is backed by Burrill & Company, BioAsia Investments, Cambridge Innovations, Seaflower Ventures and MDS Capital. Veritas Medicine is located on the Web at www.veritasmedicine.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.