Cytel and Axio join forces to create an industry leader in analytical solutions for drug development
Cambridge, MA and Seattle, WA, June 17, 2019 – 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, today announced that they have joined forces to create the largest global biometrics organization focused on delivering advanced analytical solutions for the life sciences industry. 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 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.
As a pioneer in evidence generation, with deep expertise in advanced analytical solutions, Cytel is uniquely equipped to unlock the value from increasingly complex data. Life sciences companies count on Cytel to deliver exceptional insight, minimize trial risk, and accelerate the development of promising new medicines that improve human life. Cytel provides data-focused clinical research services and software solutions for the design and analysis of clinical trials, including industry standards East®, StatXact®, and LogXact®. For more information about Cytel, visit http://www.cytel.com.
Axio is a premier provider of biostatistics and data management services to pharmaceutical, biotechnology, and medical device companies. The company was founded in 1979 by an internationally recognized group of biostatisticians and epidemiologists from the University of Washington, with a vision to create a flexible, responsive organization to facilitate clinical trials and research. The company offers industry-leading Data Monitoring Committee services and deep biostatistics expertise across diverse therapeutic areas to serve the needs of the biopharmaceutical industry. For more information about Axio, visit https://www.axioresearch.com.
About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity and credit funds with over $20 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, visit http://www.newmountaincapital.com.