August 18, 2017 11:20 PM ET

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Company Overview of Pharmaceutical Research Associates, Inc.

Company Overview

Pharmaceutical Research Associates, Inc. provides clinical development services. Its services include drug development and regulatory strategy plans, phase I clinical trials, phase II through IV multi-center clinical trials, development and analysis of integrated global clinical databases, preparation and submission of regulatory filings in North America and Europe, and drug safety programs. The company was founded in 1981 and is based in Reston, Virginia. Pharmaceutical Research Associates, Inc. operates as a subsidiary of PRA International, Inc.

12120 Sunset Hills Road

Suite 600

Reston, VA 20190

United States

Founded in 1981





Key Executives for Pharmaceutical Research Associates, Inc.

Age: 97
Compensation as of Fiscal Year 2017.

Pharmaceutical Research Associates, Inc. Key Developments

Pharmaceutical Research Associates, Inc Enters into Credit Agreement

On December 6, 2016, PRA Health Sciences, Inc. (“Holdings”), and Pharmaceutical Research Associates, Inc. (the “Borrower”) entered into a Credit Agreement (the “Credit Agreement”) among the Borrower, Holdings, each lender from time to time party thereto and Wells Fargo Bank, National Association, as administrative agent, collateral agent, letter of credit issuer and swingline lender (the “Agent”). The interest rate applicable to the term loans and revolving loans under the Credit Agreement is a rate equal to LIBOR or the adjusted base rate (“ABR”) rate, at the election of Holdings, plus a margin based on the ratio of total indebtedness to EBITDA (the “Leverage Ratio”) and ranges from 1.25% to 2.25%, in the case of LIBOR rate loans, and 0.25% to 1.25%, in the case of ABR rate loans. The Credit Agreement requires the Borrower to pay, subject to certain exceptions, outstanding term loans with: 100% of the net cash proceeds of the incurrence or issuance of certain debt; and 100% of the net cash proceeds in excess of $5 million of certain non-ordinary course asset sales and casualty and condemnation events, subject to reinvestment rights and certain other exceptions.

Cymabay Therapeutics, Inc. and Pharmaceutical Research Associates, Inc., Enters into a Master Services Agreement

On September 2, 2015, CymaBay Therapeutics, Inc. and Pharmaceutical Research Associates, Inc., entered into a Master Services Agreement to provide contract clinical research and development services for CymaBay. The Agreement provides that CymaBay may engage PRA from time to time to provide services in accordance with work orders mutually agreed and budgeted between the parties. CymaBay contemplates that the Agreement will be utilized from time to time for clinical research and development of its product candidates and the initial work order includes services with respect to CymaBay’s clinical candidate, MBX-8025 which total is anticipated to be approximately $6.2 million. The Agreement provides customary terms and conditions, including those for performance of services by PRA in compliance with work orders, industry standards, FDA and ICH requirements and all applicable laws. CymaBay remains responsible for all regulatory responsibilities unless specifically transferred to PRA, as well as the determination of any work orders, subject to mutual agreement on the specific terms of any such work orders. The Agreement has a term of five years, provided that, CymaBay may terminate the Agreement or any individual work order or the Agreement on thirty days written notice. In addition, either party may terminate the Agreement or any applicable work order upon thirty days written notice for a material breach by the other party or immediately in the event of any bankruptcy, insolvency, liquidation or assignment for the benefit of creditors.

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