NeuroRx

What NeuroRx does

NeuroRx Research is an imaging Contract Research Organization headquartered in Montreal, Canada, that provides centralized MRI analysis services for multicenter clinical trials worldwide. Founded in 2002, the company focuses primarily on multiple sclerosis and other neurological diseases, serving pharmaceutical sponsors running drug development programs. Its core technology stack combines 3D volumetric image analysis (rather than slice-by-slice review), automated segmentation with expert human supervision, inhomogeneity correction and co-registration, and proprietary tools including the NeuroRx Scan Tracking Tool (NTT) for trial logistics and the NeuroRx Trial-specific Database (NFD) for validated data management. NeuroRx also operates non-conventional MRI capabilities in magnetization transfer imaging (MTR) and magnetic resonance spectroscopy (MRS). The company holds an active operating footprint spanning 60+ countries and runs in a fully ICH-GCP and 21CFR Part 11 compliant environment, with GDPR-aligned data handling and storage in Quebec.

The company's commercial model is project-based professional services: revenue is generated through contracted engagements with pharmaceutical sponsors, where NeuroRx manages the full MRI workflow including protocol assistance, manual and form provision, site setup and supervision, image acquisition, analysis, reporting, and result transfers. Pricing is negotiated per trial rather than published, consistent with enterprise B2B CRO economics. NeuroRx sells primarily through direct enterprise relationships with pharma R&D decision-makers, supplemented by content marketing via its corporate website and participation in industry webinars alongside peers such as Clario. The buyer segment is narrow — pharmaceutical sponsors with active neurological pipelines — and engagement size is tied to trial phase, duration, and site count. Since 2025, NeuroRx has operated as a subsidiary of Clario following acquisition, with its MS imaging capabilities now positioned within Clario's neuroscience therapeutic area; Clario itself is the subject of a pending $8.9 billion bid from Thermo Fisher Scientific.

Underlying delivery rests on a centralized core-lab model: MRI centers transmit DICOM images to NeuroRx, which standardizes, analyzes, and returns quantitative endpoints to sponsors under validated protocols. The combination of regulatory compliance, multi-decade protocol experience, and proprietary tooling constitutes the primary basis of competition. Constraints evident in the data include absence of disclosed revenue, no named customer logos, no funding history, and limited public information on headcount trends — leaving financial scale to be inferred from the 101–250 employee band and CRO revenue-per-employee benchmarks.

Name

NeuroRx

Legal name

NeuroRx Research

Website

https://neurorx.com

Company type

Private

Founded year

2002

Operating status

Acquired

Headcount range

101–250 employees

Short description

NeuroRx Research is a Montreal-based imaging contract research organization that provides centralized MRI analysis services for multicenter clinical trials, primarily in multiple sclerosis and neurological diseases, serving pharmaceutical sponsors globally and operating as a subsidiary of Clario since 2025.

Ownership category

akta.pro rank

Product category

Clinical Research Services (Imaging CRO)

NAICS

Medical and Diagnostic Laboratories (6215), Other Scientific and Technical Consulting Services (541690)

SIC

Services-Commercial Physical & Biological Research (8731), Services-Medical Laboratories (8071)

akta.pro primary industry

Multiple Sclerosis & Neuroimmunology (HLAKAIAF)

akta.pro secondary industry

General Neurology (HLAKAIAA)

Keywords

• Imaging contract research
• MRI analysis services
• Clinical trial imaging
• Multiple sclerosis trials
• Neurological imaging

Headquarters

HQ city

Montréal

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Clinical Trial MRI Analysis Services: NeuroRx provides professional management of all MRI-related study activities as a contract research organization. Revenue is generated through service contracts with pharmaceutical sponsors conducting clinical trials. Services include MRI protocol assistance, analysis, reporting, and data transfer.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

NeuroRx provides centralized MRI image analysis services for pharmaceutical sponsors conducting multicenter clinical trials, with a specialization in multiple sclerosis and other neurological diseases. Services cover the full lifecycle of MRI-related trial activities including protocol assistance, scan tracking, site setup and supervision, advanced 3D image analysis with automatic segmentation, regulatory-compliant data management, and regular reporting. All work is performed in an ICH-GCP and 21CFR Part 11 compliant environment using proprietary quantitative imaging techniques.

Product overview

NeuroRx is an imaging Contract Research Organization (CRO) that provides comprehensive, fully integrated MRI analysis services for multicenter clinical trials, primarily focused on multiple sclerosis and other neurological diseases. The company operates as a single unified service offering centered around MRI analysis, with integrated components including the NeuroRx Scan Tracking Tool (NTT) for scan logistics management, the NeuroRx Database (NFD) for validated data storage, MRI Protocol Assistance, Site Setup and Supervision, and Regular Reporting Services. All services are delivered in an ICH-GCP and 21CFR Part 11 compliant environment using advanced quantitative imaging techniques including 3D analysis, automatic segmentation with expert oversight, and specialized non-conventional MRI techniques (MTR and MRS). NeuroRx has been acquired by Clario and now operates as part of Clario's neuroscience therapeutic area.

Differentiator

Problem solved

Functional benefit

Products and services

• MRI Analysis Services

Quantifiable outcome

• Maximize study power through precise MRI outcome data

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature6 records

Partnerships

One partnership is on record.

• ClariomajorStrategic or Co-development PartnerNeuroRx has been acquired by Clario, forming a strategic partnership that combines NeuroRx's specialized MRI analysis expertise for multiple sclerosis with Clario's broader clinical trial data solutions. Clario announced an $8.9 billion bid by Thermo Fisher Scientific, indicating significant strategic value. The integration positions NeuroRx's imaging CRO capabilities within Clario's global clinical research infrastructure.

Scale indicators1 record

Recent moves4 records

Expansion highlights5 records

Direct peers

• Ixico: UK-based imaging contract research organization providing MRI and other imaging analysis services for clinical trials in neurological diseases, including multiple sclerosis. Directly comparable to NeuroRx on modality, therapeutic-area focus, and sponsor customer base.
• Invicro: Imaging CRO offering quantitative MRI, PET, and image analysis services for clinical trials across neurology and oncology. Comparable to NeuroRx in providing trial-grade imaging biomarker services to pharmaceutical sponsors, with broader modality coverage.
• Signant Health: Clinical technology provider offering imaging, eCOA, and other clinical outcome assessments for CNS and other therapeutic-area trials. Directly comparable to NeuroRx on the imaging-endpoint side of neuroscience trials, with additional adjacent capabilities.

Broad incumbents

• Clario: Global clinical trial data and technology company, now the parent of NeuroRx, offering imaging, eCOA, cardiac safety, and respiratory solutions. Overlaps with NeuroRx through its imaging services and broader neuroscience therapeutic area, but at much larger scale and scope.
• IQVIA: One of the world's largest CROs with imaging and clinical data services spanning multiple therapeutic areas. Competes with NeuroRx for MS and neurology imaging endpoints, but offers a far broader end-to-end trial delivery platform.
• Parexel: Major global CRO providing full-service clinical development, including imaging analysis capabilities. Comparable as a buyer of MS and neurology trial work, with broader biopharmaceutical services than NeuroRx.
• Medpace: Mid-to-large CRO with full-service clinical trial execution including imaging management for sponsors. Overlaps NeuroRx's customer segment (pharma sponsors running multicenter trials) while operating a much broader delivery model.
• Worldwide Clinical Trials: Mid-sized global CRO with strong CNS/neurology franchise and imaging management for clinical trials. Comparable customer base (pharma sponsors) and therapeutic-area overlap (MS and neurology), with broader full-service CRO delivery.
• Charles River Laboratories: Large CRO and preclinical/research services provider with clinical imaging and biomarker capabilities. Overlaps NeuroRx at the clinical-trial imaging interface while operating across discovery, preclinical, and clinical stages.

Emerging players

• Cerveau Technologies: Provides tau PET imaging biomarkers and related imaging tools for neurodegenerative disease clinical trials, including Alzheimer's and other CNS indications. Comparable to NeuroRx as a neurology-focused imaging partner, but specialized in PET rather than MRI.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/neurorxresearch

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NeuroRx