PERCEPTIVE INFORMATICS ANNOUNCES THE RELEASE OF ITS SECOND GENERATION VIRTUAL PANEL SYSTEM
BOSTON, MA, April 1, 2004 — Perceptive Informatics, Inc., a subsidiary of PAREXEL International Corporation (Nasdaq: PRXL), and a provider of innovative technology-based solutions designed to accelerate drug development, today announced the release of its second generation Virtual Panel System (VPS). VPS is an innovative solution used to help manage the activities of independent review panels for clinical trials.
Independent panels, such as Clinical Endpoint Committees or Clinical Event Committees (CEC), are commonly used to evaluate study endpoints and to monitor patient safety. Currently, clinical data is collected in paper form and reviewed by a team of physicians, or other experts, who must gather at a central location for committee meetings. The logistics and costs involved in committee members’ periodic travel to meetings often delays and prolongs the review process and limits the ability of the clinical trial sponsor to make timely decisions based on the committee’s findings.
VPS is a web-based application that leverages the Internet to bring much needed efficiencies to the independent review process. VPS electronically distributes clinical data to panel members for review through a secure website, then collects member assessments using electronic data capture (EDC) forms. This process precludes the need for panel members to meet in person, thus reducing time and cost. Committee members are given the convenience of performing assessments "virtually" while seated at their desks, and clinical trial sponsors benefit from timely access to reviewer findings and the ability to make informed decisions faster.
"This innovative technology helps address a challenging logistical issue for our clients, as they seek to minimize the time and costs of their trials," said Mark A. Goldberg, MD, President of Perceptive Informatics, Inc. "Perceptive is excited to bring this enabling technology to our sponsors."
Perceptive Informatics, Inc. develops and offers a portfolio of innovative technology-based products and services that facilitate clinical drug development and are designed to decrease time to peak sales. The Virtual Panel System is part of a suite of web-based portal solutions and tracking tools. Perceptive’s technology portfolio also includes Interactive Voice Response Systems (IVRS) and clinical trial management systems (CTMS). IMPACT is Perceptive's market leading CTMS product and INITIATOR is a trial management product targeted to the needs of Phase I units. Perceptive offers advanced medical imaging services to assess rapidly and objectively the safety and efficacy of new drugs, biologics, and medical devices in clinical trials. In addition, the company provides electronic diary and investigator database solutions. Perceptive is headquartered near Boston, MA with approximately 300 employees in offices located throughout North America and Europe. Perceptive Informatics is a subsidiary of PAREXEL International Corporation. PAREXEL is a registered trademark of PAREXEL International Corporation, and Perceptive Informatics is a trademark of Perceptive Informatics, Inc. All other names or marks may be registered trademarks or trademarks of their respective owners and are hereby acknowledged.
This release contains "forward-looking" statements regarding future results and events. 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", "estimates", "projects" and similar expressions are intended to identify forward-looking statements. These statements involve a number of risks and uncertainties. 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 loss, modification, or delay of contracts; PAREXEL's dependence on certain industries and clients; PAREXEL's ability to win new business, manage growth, and 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 the drug, medical device and biotechnology industry; consolidation within the pharmaceutical industry; competition within the biopharmaceutical services 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 and other international economic, political, and other risks. Such factors and others are discussed more fully in the section entitled "Risk Factors" of PAREXEL's Quarterly Report on Form 10-Q for the quarter ended December 31, 2003 as filed with the SEC on February 10, 2004, which "Risk Factors" discussion is incorporated by reference in this press release. The forward-looking statements included in this press release represent PAREXEL's estimates as of the date of this release. PAREXEL specifically disclaims any obligation to update these forward-looking statements in the future. These forward-looking statements should not be relied upon as representing PAREXEL's estimates or views as of any date subsequent to the date of this press release.