Paragon Biomedical launches second phase of restructuring and growth plan for worldwide operations

Paragon Biomedical, Inc. announced today that it has launched the second phase of its restructuring and growth plan for worldwide operations. Gena Reed, Paragon's Founder and Chief Executive Officer, said the strategy will build upon the company's strengths in its key therapeutic areas and regions.

"This stage of our global operational realignment will drive additional growth in our primary therapeutic areas, which include cardiovascular, respiratory and infectious disease, CNS, and immunology, along with our expertise in the medical device segment," said Reed.

"We also are making further investment and changes in our key regions in the US, Europe and Asia," Reed continued. "Paragon is strengthening its international and scientific leadership with additional expertise required for our key research areas and regions."

Mark Harvill, Paragon's President and Chief Operating Officer, called the plan's launch a great opportunity to further position Paragon as a leading project-centric clinical research organization (CRO).

"Paragon has earned a positive reputation for project excellence in its primary therapeutic areas and operating regions," Harvill said. "To support our strategy for continued growth we are pursuing a number of new initiatives for 2010 and beyond."

"Even after 20 years, Paragon's focus remains on successful project delivery and developing long-term relationships with bio-pharmaceutical and medical device companies," Harvill continued. "With our enhanced strategy to build out Paragon's therapeutic franchises and given our efforts to reshape Paragon's international presence, I am confident that we will continue to differentiate ourselves with industry-leading quality, and as a trusted CRO partner that delivers value to its customers."