Parexel and Veeva Partner to Accelerate Clinical Trials

Strategic collaboration to advance clinical trial technology and processes

News provided by

Apr 15, 2021, 10:00 ET

DURHAM, N.C. and PLEASANTON, Calif., April 15, 2021 /PRNewswire/ -- Parexel and Veeva Systems (NYSE: VEEV) today announced a strategic collaboration to accelerate clinical trials through technology and process innovation. The unique collaboration combines the best of each company's experience across thousands of studies worldwide – Parexel as a leading clinical research organization (CRO) and Veeva as the technology innovator powering trials – to improve study efficiency and get new therapies to patients faster.

As part of the partnership, Parexel is standardizing on Veeva's suite of clinical operations applications, including Veeva Vault eTMF, Vault CTMS, and Vault Study Startup to streamline operations. Veeva Vault CDMS for clinical data management will also become a standard offering available from Parexel to its customers.

With insights from sponsors, sites, and patients, the companies will collaborate to continuously improve Veeva's cloud technology and Parexel's processes for delivery of clinical trials. Parexel will have early access and provide input into Veeva's clinical products, including innovations to support sites and patients in decentralized clinical trials (DCT), risk-based quality management (RBQM), and community-based sites.

"By adopting Veeva's clinical solutions we will streamline trial processes, drive greater efficiency, and make trial execution and participation easier for sponsors, sites, and patients," said Jamie Macdonald, CEO of Parexel. "Through this expanded partnership with Veeva, we expect to deliver greater value for customers and make an even bigger impact on patients' lives.

"We're proud to partner with Parexel to drive customer success and speed innovations in clinical research," said Peter Gassner, founder and CEO of Veeva. "Together, we can accelerate how our customers bring new vaccines, diagnostics, devices, and therapies to patients in need."

About Parexel
Parexel supports the development of innovative new medicines to improve the health of patients. We provide services to help life sciences and biopharmaceutical clients everywhere transform scientific discoveries into new treatments. From decentralized clinical trials to regulatory consulting services to leveraging real world insights, our therapeutic, technical, and functional ability is underpinned by a deep conviction in what we do. Parexel was named "Best Contract Research Organization" in December 2020 by an independent panel for Informa Pharma Intelligence. For more information, visit parexel.com and follow us on LinkedIn, Twitter, and Instagram.

About Veeva Systems
Veeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 975 customers, ranging from the world's largest pharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com and follow us on LinkedIn and Twitter.

Forward-looking Statements
This release contains forward-looking statements, including the market demand for and acceptance of Veeva's products and services, the results from use of Veeva's products and services, and general business conditions (including the on-going impact of COVID-19), particularly within the life sciences industry. Any forward-looking statements contained in this press release are based upon Veeva's historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Veeva's expectations as of the date of this press announcement. Subsequent events may cause these expectations to change, and Veeva disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Additional risks and uncertainties that could affect Veeva's financial results are included under the captions, "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in the company's filing on Form 10-K for the period ended January 31, 2021. This is available on the company's website at veeva.com under the Investors section and on the SEC's website at sec.gov. Further information on potential risks that could affect actual results will be included in other filings Veeva makes with the SEC from time to time.