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Parexel and HealthVerity Announce Strategic Partnership to Address Complex Clinical Research Questions with Customized Real-World Data Solutions

20:00 EDT 2 Oct 2019 | Globe Newswire

BOSTON and PHILADELPHIA, Oct. 03, 2019 (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 to Commercialization, and HealthVerity, Inc., the trusted foundation for the rapid creation, exchange and management of healthcare and consumer data, today announced a strategic partnership to expand Parexel’s network of real-world data (RWD) sources to accelerate the delivery of drug development solutions for customers. Through this collaboration, Parexel will gain access to HealthVerity’s diverse data sets including claims, electronic medical records (EMR), lab data and social determinants of health, enabled through the HealthVerity suite of privacy-preserving technologies, to provide customized RWD solutions to help life sciences companies solve their most complex clinical trial demands.

“Real-world, data-enabled clinical research holds great potential to transform and accelerate drug development, and is beginning to gain endorsement from regulatory agencies,” said Michelle Hoiseth, Senior Vice President and Chief Data Officer, Parexel. “However, the traditionally available large, proprietary data sets are of limited use in conducting these studies. By partnering with HealthVerity, Parexel can source the data best suited to support the intended analysis from a variety of resources quickly. Drawing on our proven regulatory expertise, we can meet the needs of regulators to help leverage these studies to bring new therapies to market.”

Through the HealthVerity partnership, Parexel customers will have access to data for more than 330 million patients collected from more than 60 healthcare and consumer data sources that are anonymized and made interoperable via HealthVerity proprietary technology. Andrew Kress, Co-founder and CEO, HealthVerity, notes, “At HealthVerity, our technology enables the foundation for a more efficient, transparent and privacy-compliant way to leverage real-world healthcare data. We’re very excited to partner with Parexel as the company continues to lead the industry discussion on how data can change how we think about clinical trials in the future and accelerate new therapies for patients.”

The strategic partnership builds on Parexel’s real-world, data-agnostic approach, which integrates access to a range of data types, advanced technologies, data science capabilities and clinical and consulting expertise. A report released by the Economist Intelligence Unit and commissioned by Parexel found that drugs developed using real-world data had a 21 percent higher likelihood of launch, and real-world data studies resulted in reduced recruitment time. The report also identified advanced data analytics - including sharing of data across established siloes – as a key enabler to innovation in drug development and commercialization. 

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.

About HealthVerity
HealthVerity is transforming the way data-led organizations make critical decisions. Our technology platform serves as the foundation for the rapid creation, exchange and management of healthcare and consumer data in a fully-interoperable, privacy-protecting manner. Advantaged by highly sophisticated identity resolution and matching capabilities, HealthVerity is on a mission to increase transparency, forge interoperability and activate deeper insights. To learn more about HealthVerity's technology platform, visit www.healthverity.com.

Parexel Contacts:
Media: 
Wendy Ryan 
Tel.: +1 781-434-5104
Email: Wendy.Ryan@parexel.com

HealthVerity Contacts:
Media:
Abby Stockwell 
Tel: 856-562-7413
Email: abbyrstockwell@gmail.com

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