Cytel and Axio Research announced they have merged 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 data monitoring committee services for clinical trials, as “Axio, a Cytel company.”
“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.
As a merged business, Cytel will employ 1,000 statisticians and data scientists across the United States, India, and Europe.