Matt Holt, Managing Director at New Mountain Capital added, “We are very proud to partner with Cytel and plan to commit substantial resources behind the Company to accelerate its market leadership across the data-powered software and service lines of the life sciences research and development sector. We look forward to our partnership and the benefits it will yield for our customers, employees, and the wider life science community.” “New Mountain has an impressive track-record of business building and Cytel will have access to a deep set of resources to help us achieve our strategic objectives.
I particularly like the fact that New Mountain is committed to maintaining our unique values and culture,” said Ranganath Nayak, CEO of Cytel. “We are delighted to have found the ideal partner to help Cytel realize its further growth plans. We believe this integrated application of statistical knowledge and data science has the potential to greatly improve the existing drug development paradigm and promote desperately needed clinical innovation.” Our partnership with New Mountain will enable us 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.
Patel, who will continue to play active roles in Cytel’s next chapter, described their vision for Cytel’s role in drug development and the partnership with New Mountain Capital, “We anticipate an imminent convergence of biostatistics with rapidly evolving information technologies in the life sciences space. Cytel was founded in 1987 by Cyrus Mehta and Nitin Patel, both highly distinguished statisticians and Fellows of the American Statistical Association.ĭr. Through a combination of clinical trial software solutions, strategic consulting services, and specialized resources, Cytel helps its customers to improve decision-making and reduce risk across the drug product lifecycle, to increase R&D productivity and to further medical innovation. Cytel’s software and outsourced services are used by over 400 life sciences customers, including all of the world’s 30 largest pharmaceutical companies, as well as regulatory bodies such as the FDA.
Headquartered in Cambridge, MA, Cytel is widely recognized as the industry pioneer of adaptive clinical trials and a thought-leader in statistical science. Investment Fuels Growth and Innovation in Statistical Software and Services for Life SciencesĬambridge, MA and New York, NY – Novem– Cytel, Inc., the leading global provider of innovative analytical software and services to the life sciences industry, today announced that it has partnered with New Mountain Capital, LLC, a growth-oriented investment firm that currently manages over $20 billion in assets.
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