When organic chemist Anne B. Sayigh and Harvard MBA Josef von Rickenbach formed Parexel International Corp. in 1982, they weren’t the only entrepreneurs who stood to benefit. Their Cambridge, Mass., firm escorts other companies—particularly biotechs—through the maze of FDA regulations that govern the research and production of new health products. In addition to designing, managing, and finding suitable sites for clinical trials, Parexel publishes the U.S. Regulatory Reporter, a newsletter that examines recent changes in FDA regulations and maintains RAPID, a database that identifies potential investigators and sites for clinical trials. RAPID contains information based on patient discharge data, for 121)0 U.S. hospitals. No problem is too big or too small for Parexel: Its 175 clients to date have included Fortune 50 goliaths and three-person startups. Forty-five of the 65 employees in the still-growing firm are scientists from a wide range of disciplines.
Growth factors are ready to sprout, blossom, and explode. According to a recent study by Technology Management Group, 182 organizations worldwide are involved in the development of this fledgling industry. Currently attracting the most attention is epidermal growth factor, which, by 1990, is expected to be the first of this new class of pharmaceuticals to reach market. (See chart.) “Growth Factors for Wound Healing II,” a new study that updates and expands a report published in November 1987, estimates that the market for growth factor products will exceed $5 billion
Source: Technology Management Group. worldwide by 1997. For more information on the report ($3,590) and an upcoming conference (Oct. 31 —Nov.2), contact: Technology Management Group, 25 Science Park, New Haven, Conn. 06511