Dedicated unit for BioVentures will be established within Parexel.
Merck is relying on the expertise of pharmaceutical services provider Parexel to help its Merck BioVentures division develop new biosimilars. Under terms of the deal a dedicated Merck BioVentures unit will be set up within the Parexel organization.
The strategic alliance will see Parexel provide its new partner with access to a range of regulatory strategy and clinical development planning capabilities for specific classes of biosimilars spanning a number of therapeutic areas, including exclusivity for certain candidates.
“This agreement positions Merck BioVentures for success with an industry leading partner that has the expertise and resources to conduct clinical development of our diverse portfolio of candidates to allow timely delivery of products to the marketplace,” remarks Michael Kamarck, president of Merck BioVentures.
Merck announced the establishment of its Merck BioVentures business at the end of 2008, to exploit its glyco-engineering technology for the development of follow-on biologics. Parexel is a global bio/pharmaceutical services organization with operations spanning 54 countries. The firm offers a broad range of clinical development capabilities, integrated advanced technologies, regulatory affairs consulting, and commercialization services.