Parexel Announces Acquisition of Leading Pharmacology Modeling & Analytics Modeling Firm Model Answers
Company’s expertise and proven approach will enhance the operational scale and global footprint of Parexel’s Clinical Pharmacology, Modeling and Simulation offering to drive more informed and efficient drug development
BOSTON and DURHAM, N.C. and BRISBANE, Australia , Feb. 20, 2020 (GLOBE NEWSWIRE) -- Parexel, a leading provider of solutions to accelerate the development and delivery of innovative new therapies to improve world health, from Clinical through Commercialization, today announced it has completed the acquisition of Model Answers, a consultancy firm based in Brisbane, Queensland, Australia. Model Answers provides pharmacokinetic (PK) and pharmacodynamic (PD) modeling, simulation and analysis services to customers in the life sciences industry to help increase the likelihood of successful drug development. As part of the acquisition, the Model Answers’ highly specialized staff have joined Parexel’s growing Clinical Pharmacology, Modeling and Simulation team, bringing a proven approach to PK/PD modeling and customer collaboration.
“Modeling and simulation have quickly become a valuable part of the drug development process, helping to reduce risk and increase the likelihood of success by predicting outcomes that can result in a more informed trial design,” said Sy Pretorius, M.D., Executive Vice President and Chief Medical & Scientific Officer. “By leveraging Model Answers’ deep expertise and proven approach to modeling and simulation, Parexel will expand our ability to leverage this innovative approach, helping our customers to maximize their resources by improving understanding and decision-making at every stage of development.”
Founded in 2005, Model Answers has extensive experience working across many therapeutic areas — including oncology, neurology and rare diseases — while also providing important access to the growing Asia/Pacific market. The company has significant experience developing preclinical PK and PD models for effectiveness and neutropenia, scaling to first-in-human studies, then supporting Phase I through to NDA submission. Model Answers’ team of Modelers, Clinical Pharmacologists, Data Managers and Programmers has supported numerous successful filing activities to the FDA, the European Medicines Agency (EMA), the Pharmaceuticals and Medical Devices Agency (PMDA) and the Therapeutic Goods Association (TGA).
“Model Answers was founded on the idea that by providing highly specialized modeling capabilities in a way that is collaborative and efficient for customers, we can increase the likelihood of success in drug development,” said Bruce Green, Ph.D., Founder and CEO, Model Answers. “We are excited to join an organization with global capabilities where, as part of a larger combined team, we can bring our unique modeling and simulation approach to more life sciences companies, ultimately helping bring new medicines to patients sooner.”
Parexel will also leverage the proven Model Answers Process, including best practices and proprietary software solutions that support modeling and simulation. These include Model Answers’ client-interactive tools that drive both efficient collaboration and client ownership of complex models to ultimately help them make smarter, faster, and more informed clinical data management and drug development decisions.
About Parexel
Parexel is focused on supporting the development of innovative new therapies to improve patient health. We do this through a suite of services that help life science and biopharmaceutical customers across the globe transform scientific discoveries into new treatments for patients. From clinical trials to regulatory and consulting services to commercial and market access, our therapeutic, technical and functional ability is underpinned by a deep conviction in what we do. For more information, visit our website and follow us on LinkedIn, Twitter and Instagram.
Parexel is a registered trademark of Parexel International Corporation. All other trademarks are the property of their respective owners.
Parexel Contacts:
Media:
Wendy Ryan, Parexel
Tel.: +1 781-434-5104
Email: wendy.ryan@parexel.com
Kathryn McMahon Arrigg, PAN Communications
Tel.: +1 617-502-4300
Email: Parexel@pancomm.com
