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Cytel and Axio Join Forces to Create an Industry Leader in Analytical Solutions for Drug Development
The merged business will operate under the Cytel brand, with Axio continuing to provide its renowned data monitoring committee services for clinical trials, as “Axio, a Cytel company.”
Cytel Inc., the leading global provider of innovative analytical software and services to the life sciences industry, and Axio Research, a premier provider of biostatistics to pharmaceutical, biotechnology and medical device companies, has announced that they have joined forces to create the largest global biometrics organization focused on delivering advanced analytical solutions for the life sciences industry.
Cytel is a global pioneer in innovative trial methodologies, with a thirty-year track record of leadership in analytical services and software. The company is trusted by the world’s largest life sciences companies to deliver exceptional insights that accelerate the development of promising new medicines. From its Seattle headquarters, Axio has established a 40-year history as a leader in data monitoring committee services and biostatistics solutions.
“We believe that better use of data will ultimately revolutionize drug development,” said Joshua Schultz, Chief Executive Officer of Cytel. “Our vision is to unite the combined expertise of our two companies to deliver powerful analytical solutions that address trial sponsors’ toughest drug development challenges and maximize the opportunities offered by emerging data sources."
“We are delighted to merge with Cytel, a company that shares our academic heritage, cultural values, and deep commitment to scientific and statistical excellence,” said Lee Hooks, Chief Executive Officer of Axio Research. “Axio’s capabilities in data monitoring committees and biostatistics services will seamlessly complement Cytel’s existing clinical research services and software. Under the Cytel umbrella, Axio’s customers will receive the same exemplary levels of service while benefiting from extended capabilities, reach, and infrastructure.”
New Mountain Capital, a growth-oriented investment firm that currently manages over $20 billion in assets, partnered with Cytel in 2017 to fuel its growth and innovation.
Kyle Peterson, Director at New Mountain Capital, said, "The addition of Axio will further expand Cytel’s capabilities and better position the combined company to continue its rapid growth trajectory, while maintaining the high standards of quality, scientific excellence and customer service for which both Cytel and Axio are known in the marketplace.”
As a merged business, Cytel will be powered by 1,000 of the brightest statisticians and data scientists across the United States, India, and Europe. The organization will continue to innovate solutions to advance clinical development while providing industry-leading service and quality for the combined organization's portfolio of pharmaceutical, biotechnology, and medical devices customers.