PRA Health Sciences will add as many as 300 employees to its current 12,000 through a partnership with Japan-based Takeda Pharmaceutical Company.
The deal was announced Monday.
PRA is one of several life science services companies based in the Triangle known as contract research organizations. Others include Quintiles, INC Research and PPD.
Under the deal PRA will be tasked with research and development of Takeda drugs as well as post-regulatory approval needs.
“This partnership is an exciting opportunity for PRA and represents a significant milestone and transformational business opportunity for us,” said PRA Chief Executive Officer Colin Shannon. “This is the first time that a pharmaceutical company and a clinical research organization (CRO) have come together to create such a comprehensive business and operational strategy. This partnership model redefines collaboration and is the first of its kind in the CRO industry.”
Financial terms were not disclosed.
“This partnership is a fundamental part of Takeda’s R&D transformation and represents a truly innovative approach to clinical development, unprecedented in our industry,” said Andy Plump, Chief Medical and Scientific Officer at Takeda. “PRA has a reputation for providing tailored sourcing solutions. We believe PRA will be an ideal partner as we focus, deliver and advance our current and future pipeline.”
Takeda plans to offer as many as 300 employees a chance to transfer to PRA(Nasdaq: PRAH)
“This flexible approach will facilitate the development of new medicines by focusing resources, teams and activities where needed, an important requirement for an industry-leading, highly agile R&D organization focused on meeting patient needs,” the companies said.
