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PAREXEL International (PRXL) Enhances Early Phase Biomarker Capabilities Through Alliance With Proteome Sciences PLC (PRM.L)

2/11/2010 8:29:55 AM

BOSTON and COBHAM, England, Feb. 11 /PRNewswire-FirstCall/ -- PAREXEL International Corporation , a leading global biopharmaceutical services provider, and Proteome Sciences plc , a leading provider of protein biomarker discovery, validation, and assay development services, today announced the formation of an alliance focused on enhancing PAREXEL's biomarker capabilities for early phase clinical development. PAREXEL is using Proteome Sciences' PS Biomarker Services(TM) protein and peptide biomarker capabilities to support biopharmaceutical companies in making earlier assessments of new compounds in development. Proteome Sciences will assist PAREXEL early phase experts in helping biopharmaceutical companies advance biomarker discovery and qualification within clinical trials. This expanded capability allows PAREXEL to offer its customers mass spectrometric and pharmacokinetic assays for protein and peptide compounds.

Christopher Pearce, Chief Executive of Proteome Sciences said: "We are very pleased to have PS Biomarker Services selected by PAREXEL as a preferred provider of protein and peptide biomarker services. We believe that the current regulatory requirements for biomarkers in drug development and diagnostics coupled with the need for fast, flexible and cost effective workflows have meant that specialist services will be increasingly required. Our ISO 9001:2008 facility in Frankfurt, Germany was designed to provide expert protein biomarker discovery and validation and for the development of rapid mass spectrometric-based assays to service the growing requirements of the biopharmaceutical industry."

PAREXEL continuously develops new analytical methods for clients, and has a database with more than 500 internally developed and validated analytical methods, which adhere to ICH and FDA guidelines. PAREXEL's bioanalytical lab provides routine safety testing and clinical chemistry and hematology analysis. The lab offers state-of-the-art chromatographic systems, including 18 LC-MS/MS instruments for use during PK sample analysis and well-equipped immunochemistry facilities for biomarker analysis. The laboratory has been audited by FDA and WHO among other audits.

About PAREXEL International

This release contains "forward-looking" statements regarding future results and events. For this purpose, any statements contained herein that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words "believes," "anticipates," "plans," "expects," "intends," "appears," "estimates," "projects," "targets," and similar expressions are also intended to identify forward-looking statements. The forward-looking statements in this release involve a number of risks and uncertainties. The Company's actual future results may differ significantly from the results discussed in the forward-looking statements contained in this release. Important factors that might cause such a difference include, but are not limited to, risks associated with: actual operating performance; actual expense savings and other operating improvements resulting from recent restructurings, including the anticipated restructuring charge of approximately $30 million over the second and third quarters of Fiscal Year 2010; the loss, modification, or delay of contracts which would, among other things, adversely impact the Company's recognition of revenue included in backlog; the Company's dependence on certain industries and clients; the Company's ability to win new business, manage growth and costs, and attract and retain employees; the Company's ability to complete additional acquisitions and to integrate newly acquired businesses or enter into new lines of business, including, but not limited to, the successful business integration and anticipated synergy achievements in connection with the ClinPhone acquisition; the impact on the Company's business of government regulation of the drug, medical device and biotechnology industry; consolidation within the pharmaceutical industry and competition within the biopharmaceutical services industry; the potential for significant liability to clients and third parties; the potential adverse impact of health care reform; and the effects of exchange rate fluctuations and other international economic, political, and other risks. Such factors and others are discussed more fully in the section entitled "Risk Factors" of the Company's Quarterly Report on Form 10-Q for the quarter ended December 31, 2009 as filed with the SEC on February 5, 2010, which "Risk Factors" discussion is incorporated by reference in this press release. The forward-looking statements included in this press release represent the Company's estimates as of the date of this release. The Company specifically disclaims any obligation to update these forward-looking statements in the future. These forward-looking statements should not be relied upon as representing the Company's estimates or views as of any date subsequent to the date of this press release.

PAREXEL International Corporation

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