Aethlon Medical, Inc. (Nasdaq: AEMD) has announced a partnership with PPD, Inc. (Nasdaq: PPD) to manage clinical studies for its Hemopurifier, a therapeutic blood filtration system focused on treating infectious diseases, including COVID-19. Under this agreement, PPD will oversee ongoing clinical trials and may expand to additional studies. The Hemopurifier has received FDA Breakthrough Device designation and has shown promise in removing harmful viruses and exosomes in prior studies. This collaboration aims to expedite the clinical development for critically ill patients.
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PPD, Inc. reported a robust financial performance for Q2 2021, with revenue growth of 55.8% year-over-year to $1,575.5 million and a net income of $58.7 million, recovering from a net loss in Q2 2020. Notable metrics include net authorizations growth of 58.4% and an ending backlog increase of 22.3%, totaling $9,275.2 million. Adjusted EBITDA reached $257.4 million. The company has a strong liquidity position with $1,547.4 million available. Due to a pending merger with Thermo Fisher, no financial guidance was issued.
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PPD, a leading global contract research organization, will hold a conference call on July 29, 2021, at 7 a.m. ET to review its Q2 2021 financial results. Investors can access the live webcast through PPD's investor website. Due to the pending merger with Thermo Fisher Scientific announced on April 15, 2021, Q&A will not be permitted during the call. PPD provides integrated drug development and lifecycle management services, employing over 28,000 professionals and conducting trials in over 100 countries.
PPD has been honored as the “Most Innovative CRO” by the Triangle Business Journal, highlighting its robust performance amidst the COVID-19 pandemic. The company effectively enrolled over 80,000 patients in COVID-19 trials and played a vital role in supporting vaccine and therapeutic development. To enhance trial access, PPD introduced digital solutions such as remote eConsent and telemedicine, ensuring continuity in clinical research. Brittany Erana, VP for PPD Digital, was also included in the journal's 2021 '40 Under 40' list, showcasing leadership in digital trial operations.
PPD, Inc. has inaugurated a new multipurpose laboratory in Suzhou, China, aimed at supporting pharmaceutical and biotech companies with research studies. The 67,000-square-foot facility will provide bioanalytical, biomarker, and vaccine laboratory services across all phases of drug development. PPD plans to hire about 300 professionals over the next three years. This lab complements PPD's Shanghai facility, enhancing its capabilities in delivering high-quality data for clinical trials in China while aiding in the acceleration of drug development.
PPD has been honored for the 10th consecutive year in the CRO Leadership Awards, showcasing its excellence in clinical research capabilities and customer compatibility. Recognized in the small pharma category, PPD excelled in areas such as access to patient populations, data management, and project communications. This accolade highlights PPD's commitment to improving health and advancing the pace of drug development. The company employs over 27,000 professionals across 47 countries.
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