Sun. Jun 16th, 2024

Mumbai, April 26th 2024 – Parexel, one of the world’s largest clinical research organizations (CROs) providing the full range of Phase I to IV clinical development services, and Palantir Technologies Inc. (NYSE: PLTR) (Palantir), a leading builder of Artificial Intelligence (AI) systems, today announced a multi-year strategic partnership to leverage AI to help enhance and accelerate the delivery of safe and effective clinical trials for the world’s biopharmaceutical customers. Under the collaboration, Parexel will leverage Palantir’s Foundry and Artificial Intelligence Platform (AIP) to further power its clinical data platform, focused on driving clinical trial efficiency while maintaining the highest level of safety and regulatory rigor. Parexel is the first CRO working with Palantir in this capacity, building on the companies’ existing collaboration over the past year.

“We’re thrilled to expand our collaboration with Palantir — a leader in artificial intelligence technology — as we build on our application of AI to further improve clinical trial execution and advance our offerings in Real World Evidence, advanced analytics and Health Outcomes,” said Jonathan Shough, Chief Information Officer for Parexel. “Leveraging our internal Parexel expertise and our strategic partnership with Palantir, we have novel solutions already in use or in various stages of development that demonstrate our commitment to be a fully digital CRO.”

Parexel is a leader in the CRO industry in enhancing and accelerating the clinical trial lifecycle utilizing its Parexel Precision Pathway, an end-to-end operational approach that prioritizes the timely delivery of clean data while driving efficiency, quality and predictability. Supported by Palantir’s industry-leading software, Parexel’s clinical data platform provides an integrated digital environment to hyper-automate manual processes, safely promote data discoverability, distill insights from historical trials and streamline coordination among scientific and operational teams and their partners. Incorporating Foundry and AIP into the Parexel environment will provide Parexel’s customers real-time access to high-quality validated data, ensuring transparency during studies in-flight and condensed timelines from trial planning to submission.

“Parexel is well positioned to rapidly scale our use of AI to enhance data quality and streamline the clinical trial process to better deliver for our customers and patients,” said Stephen Pyke, DIC, Chief Clinical Data and Digital Officer for Parexel and Chair of the Association of Clinical Research Organization’s (ACRO) AI/ML Committee. “Combining our end-to-end delivery model with Palantir’s world-class security, governance and Artificial Intelligence Platform will generate strategic insights to inform drug development and accelerate time to market.”

“Parexel has embraced the principles of digital transformation using generative AI at remarkable speed and scale,” said Dr. Lalarukh Haris Shaikh, Executive, Life Sciences at Palantir. “The company will significantly accelerate its business by untapping the value of data via an ontology constructed within Palantir Foundry and connecting it to the immense power of generative AI in AIP. We are delighted to deepen our exceptional collaboration with Parexel, empowering them to fully leverage the capabilities of AIP and Foundry throughout their clinical processes and business operations.”

By Prabhat

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