Parexel acquires pharma modeling firm
Model Answers specializes in offering pharmacokinetic (PK) and pharmacodynamic (PD) modeling, simulation and analysis services. Employees of the acquired firm (located in Brisbane, Australia) now are part of Parexel's Clinical Pharmacology, Modeling and Simulation team.
Anita Nelsen, senior vice president of translational medicine for Parexel, told Outsourcing-Pharma that the company is always on the hunt for opportunities to grow its technological capabilities in drug development.
“Modeling and simulation have become a valuable part of the drug development process, helping to reduce risk and increase the likelihood of successful drug development,” she said. “By applying modeling and advanced analytics to PK/PD data, experts can leverage insights to inform clinical trial designs and predict trial outcomes."
Nelsen added that demand is increasing for advanced PK and PD modeling capabilities. Parexel targeted Model Answers for acquisition because of its ability to “enhance the operational scale and global footprint” of its Clinical Pharmacology, Modeling and Simulation offerings.
Sy Pretorius—Parexel's executive vice president, chief medical officer, and chief scientific officer—added that bringing Model Answers into the fold will enable its customers “to maximize their resources by improving understanding and decision-making at every stage of development.”
Model Answers founder and CEO Bruce Green said his firm’s capabilities enhances Parexel with a “unique modeling and simulation approach” making it possible to bring new drugs to market sooner.
Nelsen told us Parexel hopes the acquisition will support efforts to expand its reach into new markets.
“As the demand for drug development services grows in Asia/Pacific, Parexel will harness Model Answers’ experience working in, understanding of, and geographic proximity to the Asia/Pacific market to further expand our ability to offer PK/PD services in this important region,” she said.