In 2015, biopharmaceutical services organization PAREXEL International Corporation will be moving into new premises in the city of Nottingham, securing space at the Castle Wharf development in a landmark deal that will bring new jobs to the city.
The global firm works closely with pharmaceutical companies to bring new discoveries to market, making PAREXEL the ideal company for a city that prides itself on a history of medical innovation. The move will see the company rationalising its presence at several sites into the new city centre HQ.
PAREXEL is a leading global biopharmaceutical services organization, providing knowledge-based contract research, consulting, medical communications, and technology solutions and services to the worldwide pharmaceutical, biotechnology and medical device industries. PAREXEL has developed significant expertise across the development and commercialization continuum, from drug development and regulatory consulting to clinical pharmacology, clinical trials management, medical education and reimbursement. PAREXEL Informatics provides advanced technology solutions, including medical imaging, to facilitate the clinical development process. Headquartered near Boston, Massachusetts, PAREXEL operates in 75 locations in 50 countries around the world, and has approximately 15,335 employees.
The company has secured two grants from the Nottingham Technology Grant Fund (N’Tech) to support its move into Castle Wharf, the former site of BT. The grants will help ensure the continued development of the Nottingham location as a global research centre and support PAREXEL’s development of innovative new technologies for managing clinical trials. N’Tech funding is run by Nottingham City Council and supported solely through the Government’s Regional Growth Fund (RGF).
“PAREXEL’s Nottingham operations play an important role in helping the Company advance the worldwide success of the biopharmaceutical and medical device industries in preventing and curing disease,” the Company said in a statement. “We are pleased to have received grants from the Nottingham Technology Grant Fund to support our move and appreciate the support of the Nottingham City Council as we expand our local presence.”
PAREXEL has been in negotiations with Nottingham City Council and the Invest in Nottingham team over several months to expand the company’s operations in the city and support its move.
Speaking about the investment, Councillor Jon Collins, Leader of Nottingham City Council said: “We are delighted with the announcement that PAREXEL will be expanding in the city. They are a company of international standing and also part of the life sciences industry, which is a strong point and a priority growth sector for the city. In Nottingham we have a long history of innovation in science, and as the city where Ibuprofen and the MRI scanner were invented, our record of breakthroughs makes us the perfect location for PAREXEL. There are some exciting developments ahead that will benefit the sector and the city as a whole.”