Cytel Inc., a Cambridge, Mass.-based provider of analytical software and services to the life sciences industry, has announced a partnership with New Mountain Capital LLC.
Cytel, an industry pioneer in adaptive clinical trials, offers software and outsourced services to over 400 life sciences customers, including all of the world’s 30 largest pharmaceutical companies and regulatory bodies such as the FDA. The thirty-year-old firm seeks to improve organizational decision making, reduce risk across the drug product lifecycle, increase research and development (R&D) productivity and further medical innovation through a combination of clinical trial software solutions, consulting services and specialized resources.
New York-based New Mountain Capital is a growth-oriented investment firm that manages over $20 billion in assets, with private equity, public equity and credit funds. The firm targets companies in defensive growth industries, partnering with management in continued business-building efforts. New Mountain said it identified Cytel due to its long-standing commitment to healthcare and life sciences, particularly focused on technology-enabled services intended to boost efficiency and cut costs within the life sciences development process.
Cytel founders Dr. Mehta and Dr. Patel will continue to play active roles in the company’s future.
“We anticipate an imminent convergence of biostatistics with rapidly evolving information technologies in the life sciences space,” said the founders, indicating that the new partnership will enable the software provider to further apply data science to the “increasingly critical areas of machine learning, genomics and bio-informatics, while simultaneously deepening our core strength in clinical drug development.” They see the integrated application of statistical knowledge and data science as capable of drastically improving the existing drug development standard and accelerating “desperately needed” clinical innovation.