The division – Parexel Biotech – offers a new biotech-focused team and organizational structure for customers, and will be led by James Anthony, global head of biotech, and Graciela Racaro, global head of biotech operations.
“Parexel understands that emerging biotech companies have different needs and require a different style of service than large, established pharmaceutical companies, and will be able to provide these companies with tailored, customized guidance to meet those specific needs,” Anthony told Outsourcing-Pharma.
The contract research organization (CRO) has worked with biotech companies for several years, but the new division now provides a dedicated team focused on the needs of emerging companies, he added.
“Emerging biotech customers serve as the innovative arm of the industry, driving new therapies forward for development with the ultimate goal of market approval,” said Anthony – and the CRO's percentage of its overall business sponsored by this market segment has grown significantly over the past decade.
Parexel Biotech’s offering will include regulatory and strategic consulting, the ability to recruit patients and conduct trials, generation of real-world evidence (RWE) leveraging internal expertise and partnerships, such as with Datavant and SHYFT Analytics, among others.