Parexel has teamed up with “AI-powered” drug asset manager Partex to help clients accelerate discovery and development and “de-risk” pipelines.
The collaboration will combine Parexel’s clinical trial knowhow with Partex’s artificial intelligence (AI), analytical and “Big Data” capabilities to help developers understand the probability of clinical success of assets in their portfolio and recommend other disease indications for which their assets may be clinically viable.
CEO Jamie Macdonald cited drug industry desire to reduce candidate attrition rates as the prompt for working with Partex.
"One of the biggest and most complex challenges in drug development is anticipating the investigational therapies that will be safe and effective treatment options.
“Our innovative alliance with Partex helps to address this challenge by bringing to the forefront those assets with the strongest probability of clinical success, in turn enabling customers to focus their time and resources where it is most beneficial to patients.”
Under the alliance, clinical trial execution by the Partex group of companies will be managed by Parexel as the preferred clinical research organization (CRO) provider. The firms will also collaborate on improving clinical trial execution for customers through the Partex-validated AI platform, adding to and expanding Parexel’s existing AI tools and capabilities.
In an official statement Parexel said the strategic alliance marks a significant step forward in leveraging artificial intelligence and big data to revolutionize the pharmaceutical industry and bring life-changing treatments to patients in need.
Partex CEO, Gunjan Bhardwaj, framed the collaboration as transformative for both firms and the drug developers with which they work.
"By combining Partex's cutting-edge AI capabilities with Parexel's renowned clinical research expertise, we aim to accelerate the delivery of safe and effective therapies to patients worldwide, ultimately transforming the biopharmaceutical landscape.
“We eagerly anticipate the unveiling of new value-generating approaches and ground-breaking innovations resulting from this collaboration.”