07 Sept. 2010
WILMINGTON, N.C., (September 7, 2010) - PPD, Inc. (Nasdaq: PPDI) today announced it has established preferred provider relationships with a network of sites across North America for conducting Phase I trials in patients to meet growing client demand for these services.
PPD has established relationships with Commonwealth Biomedical Research in Madisonville, Ky., CNS Network in Los Angeles and Lovelace Scientific Resources, a wholly-owned subsidiary of Lovelace Respiratory Research, in Albuquerque, N.M., Austin, Texas, and Sarasota, Fla.
The relationships increase PPD's ability to recruit patients for Phase I trials across a broad range of therapeutic areas, including cardiovascular, metabolic, respiratory, central nervous system, renal/hepatic disease and biologics. It also strengthens the company's ability to deliver clients an integrated offering that spans preclinical, Phase I, data management and Phase II-IV clinical development and monitoring services.
"Patient volunteers currently account for approximately 40 percent of all participants in Phase I studies," said Cindy Doerfler, vice president of PPD's Phase I clinic. "By choosing to build relationships with sites that have demonstrated superior quality and the ability to recruit for various patient populations, we provide our clients a very flexible model for patient enrollment, site location and therapeutic expertise."
Expanding its Phase I services allows PPD to work even more closely with clients in determining early proof-of-concept for compounds and biosimilars where drugs must go directly into patients. The company is hiring senior project managers in North America who will oversee the development of its networks and manage Phase I trials conducted through the sites. It plans to implement this model in other regions such as Central and Eastern Europe and Asia-Pacific.
According to Jefferies & Company, Inc., the Phase I outsourcing market is estimated at $2.3 billion in 2010 with an expected compounded annual growth rate of 6 percent between 2010 and 2015. PPD already operates a 300-bed Phase I healthy volunteer clinic in Austin, Texas, which is one of the largest in the world.