Parexel and NeoGenomics Announce Strategic Collaboration in Precision Medicine to Improve Study Designs and Accelerate Patient Matching in Oncology Clinical Trials

Rhea-AI Summary

Parexel and NeoGenomics have announced a strategic partnership aimed at enhancing oncology clinical trials through the application of real-world genomic data. This collaboration will facilitate better patient matching and optimize trial design by identifying genomic mutations and linking patient data with clinical datasets. The partnership seeks to accelerate patient enrollment in clinical trials and improve treatment outcomes. Both companies aim to expand their relationship in the oncology space by exploring advancements in lab services and biomarker capabilities.

Positive

• Strategic partnership to enhance oncology clinical trials and patient matching.
• Utilization of real-world genomic data for improved trial designs.
• Potential expansion of collaboration in lab services and biomarker capabilities.

Negative

• None.

Access to industry-leading genomic database and real-world evidence designed to optimize trial design, site selection, clinical trial matching and translational research

BOSTON, MA, DURHAM, NC and FT. MYERS, FL / ACCESSWIRE / February 4, 2021 / Parexel, a leading provider of solutions to accelerate the development and delivery of innovative therapies to improve world health, from clinical through commercialization, and NeoGenomics, Inc.(NASDAQ:NEO), a leading provider of cancer-focused genetic testing services and global oncology contract research services, today announced a strategic partnership to advance the application of precision medicine in oncology clinical trials by applying real-world genomics data to accelerate patient matching and optimize trial design, site selection, clinical development and translational research.

The collaboration with NeoGenomics will enhance Parexel's use of real-world data across various applications, including identifying and estimating prevalence of genomic mutations within respective populations, genomic patterning to stratify patients according to novel biomarkers, and use of de-identified patient data to precisely target patient populations. Collectively these data are designed to better inform clinical trial feasibility, enhance patient matching and create a holistic view of the patient journey by linking genomic data with clinical and consumer datasets. The collaboration will ultimately enable researchers to quickly enroll patients with common to rare cancer mutations and connect them to clinical trials providing the best likelihood of potential treatment success.

"Parexel's partnership with NeoGenomics provides access to greater predictive modeling capabilities so that we can rapidly identify specific patients and connect them to clinical trials that provide them with the best potential for treatment, advance our understanding of their disease and identify the drug's effects and potential benefits," said Sy Pretorius, MD, President, Clinical Development and Chief Medical Officer at Parexel. "This collaboration supports our efforts to adopt more novel approaches in the identification of data populations for oncology studies while keeping the patient at the center of everything we do."

"We are thrilled to collaborate with Parexel to provide our robust genomic and clinical database to help match cancer patients to clinical trials and therapies that are precisely targeted to their unique tumor types and genomic biomarkers," said Douglas VanOort, NeoGenomics' Chairman and Chief Executive Officer. "We look forward to our strategic partnership and future opportunities to broaden our relationship based on customer needs in the oncology space."

The strategic partnership between Parexel and NeoGenomics will enable biopharmaceutical customers to make evidence-based decisions regarding trial designs, companion diagnostics and drug repurposing as well as to build external control arms using genomic data, ultimately providing cancer patients access to the most effective therapies when and where they need them. The companies are considering potential opportunities to expand the scope of the partnership, including lab services and biomarker capabilities.

About Parexel
Parexel supports the development of innovative new medicines to improve the health of patients. We provide services to help life science and biopharmaceutical clients worldwide transform scientific discoveries into new treatments. 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. Our Oncology Center of Excellence combines our early advisory core services of medical, regulatory, biostatistics and genomic/biomarker expertise with a multi-disciplinary team of oncology experts and key technology platform partnerships to bring your breakthrough treatments to market faster.

Parexel was named "Best Contract Research Organization" in December 2020 by an independent panel for Informa Pharma Intelligence. For more information, visit our website and follow us on LinkedIn, Twitter and Instagram.

About NeoGenomics, Inc.
NeoGenomics, Inc. specializes in cancer genetics testing and information services, providing one of the most comprehensive oncology-focused testing menus in the world for physicians to help them diagnose and treat cancer. The Company's Pharma Services Division serves pharmaceutical clients in clinical trials and drug development.

Headquartered in Fort Myers, FL, NeoGenomics operates CAP accredited and CLIA certified laboratories in Fort Myers and Tampa, Florida; Aliso Viejo, Carlsbad and San Diego, California; Houston, Texas; Atlanta, Georgia; Nashville, Tennessee; and CAP accredited laboratories in Rolle, Switzerland, and Singapore. NeoGenomics serves the needs of pathologists, oncologists, academic centers, hospital systems, pharmaceutical firms, integrated service delivery networks, and managed care organizations throughout the United States, and pharmaceutical firms in Europe and Asia.

CONTACTS:
Parexel
Becky Levine
+1 919 271-5151
lori.dorer@parexel.com

W2O
Lindsay LeCain
+1 508 259 9521
parexelpr@w2ogroup.com

NeoGenomics
Doug Brown
+1 239.768.0600 x2539
doug.brown@neogenomics.com

SOURCE: NeoGenomics, Inc.

View source version on accesswire.com:
https://www.accesswire.com/627830/Parexel-and-NeoGenomics-Announce-Strategic-Collaboration-in-Precision-Medicine-to-Improve-Study-Designs-and-Accelerate-Patient-Matching-in-Oncology-Clinical-Trials

FAQ

What is the purpose of the partnership between Parexel and NeoGenomics?

The partnership aims to enhance oncology clinical trials by utilizing real-world genomic data for better patient matching and optimized trial designs.

How does the collaboration improve the clinical trial process for cancer patients?

It allows for rapid identification of patients with specific genomic mutations, connecting them to trials that have the highest likelihood of treatment success.

What are the potential next steps for this partnership?

The companies are considering expanding their collaboration to include lab services and new biomarker capabilities.

How will this partnership impact the stock symbol NEO?

The collaboration may enhance NeoGenomics' market position in oncology, potentially influencing investor perceptions and stock performance positively.