New Offerings Include Preclinical, Biostatistics, Data Management
Company Expands RAS Management Team
MOUNTAIN VIEW, Calif., July 15, 2008 (PRIME NEWSWIRE) -- Pharsight Corporation (Nasdaq:PHST), a leading provider of software, strategic consulting, and regulatory services for optimizing clinical drug development, today announced that is has expanded its Reporting and Analysis Services (RAS) offerings to include preclinical and statistics, and data management. Both new business units will report under John E. Murphy, DrPH, Senior Vice President of Consulting Services.
"The RAS business was launched in April 2007 and grew to approximately $1.5 million in fiscal 2008 with 31 clients," said Dr. Murphy. "The expansion of our RAS offerings into preclinical, statistics, and data management will allow us to compete for business in a much larger market than the regulatory clinical PK/PD needs we currently serve. We estimate this larger market size to be approximately $2 billion, with approximately $600 million or 30% currently outsourced to contract research providers such as Pharsight."
"These new offerings complement our existing RAS business unit that currently performs regulatory clinical PK/PD reporting and analysis," Dr. Murphy added. "Much of the work that will be done in the new business units uses the same datasets, tools, and scientific expertise that we are already providing. Based upon our strong relationships with our existing clients, our validated software environment, and our industry-leading modeling and simulation expertise, we believe we now offer a more efficient and comprehensive set of services to our clients."
Two new additions to the company's management team will lead the growth of the new business units. Mark L.J. Reimer, Ph.D., will fill the newly created position of senior director, operations and preclinical development, while Jean-Sebastien Brunet, M.S., will fill the newly created position of senior associate, statistics and data management. Dr. Reimer will report to Dr. Murphy and Mr. Brunet will report to J.F. Marier, Ph.D., FCP, vice president of Reporting and Analysis Services, who also reports to Dr. Murphy. All three RAS business units will operate from the company's new Montreal, Canada facility.
Mark L.J. Reimer, Ph.D.
Dr. Reimer is an experienced leader in the development of new drug therapies with twenty years of progressive scientific, managerial and executive responsibilities in the field of preclinical drug research, including ADME-Tox and bioanalysis. His experience includes the design, execution and interpretation of a wide variety of preclinical services used in the pharmaceutical and biotechnology industries to bring new molecular entities through the drug development process. He has led preclinical research efforts at a major Canadian biopharm company, and was responsible for the inception, build-out, and consistent profitability of the drug metabolism unit at one of the world's top-five contract research organizations.
Jean-Sebastien Brunet, M.S.
Jean-Sebastien Brunet brings 13 years of experience in biostatistical and epidemiology aspects of medical research with a strong focus on oncology and phase I/II trials. He has been responsible for the study design, statistical analysis, randomization, PK/PD modeling, bioequivalence and bioavailability analysis, adverse event and safety analysis, reporting and scientific interpretation of trial results, costs analysis and risk assessment. His work has been submitted to American, European, and Canadian agencies. He is widely published in leading cancer, genetics, and general medical journals including The New England Journal of Medicine, The Lancet, Cancer, Cancer Research, The American Journal of Human Genetics, The Journal of the National Cancer Institute, The Journal of Clinical Oncology, The British Medical Journal, and The British Journal of Cancer.
About Pharsight Corporation
Pharsight Corporation develops and markets integrated products and services that enable pharmaceutical and biotechnology companies to achieve significant and enduring improvements in the development and use of therapeutic products. The company's goal is to help customers reduce the time, cost and risk of drug development, as well as optimize the post-approval marketing and use of pharmaceutical products.
Pharsight's approach enhances the fundamental element of drug development success: strong decision-making. By adopting the Pharsight approach, customers acquire a new decision-making process with the potential to systematically improve every level and phase of their business and scientific processes. Pharsight is headquartered in Mountain View, California. Information about Pharsight is available at www.pharsight.com.
Forward-Looking Statements
The statements in this press release related to the performance of the Pharsight Preclinical Reporting and Analysis Services offering are forward- PHARSIGHT BROADENS REPORTING AND ANALYSIS SERVICES OFFERINGS looking statements. Forward-looking statements are inherently speculative, and actual results may differ materially from Pharsight's expectations due to a variety of factors, including: changes in FDA regulations may affect the demand for the services; and customers may not perceive the benefits of the product to be the same as Pharsight believes them to be. Other risk factors relating to Pharsight are disclosed in the company's most recent Form 10-K filed with the Securities and Exchange Commission on June 30, 2008. All forward-looking statements are based on information available to the company on the date hereof, and the company assumes no obligation to update such statements.
Pharsight is a registered trademark of Pharsight Corporation.