December 6, 2023
RALEIGH, NC, December 6, 2023 – ProPharma Group (ProPharma), the world’s largest Research Consulting Organization (RCO) and the leading global provider of regulatory, clinical and compliance services for the life sciences industry, and a portfolio company of Odyssey Investment Partners, today announced the acquisition of Clinres Farmacija, a Croatia-based Contract Research Organization (CRO).
This significant and strategic move reinforces ProPharma's commitment to expanding its presence in Europe and fortifying its competitive position with a blend of high patient access and cost-effective clinical services.
Clinres Farmacija, a well-respected CRO established over two decades ago that has performed over 250 clinical trials across multiple therapeutic areas, expands ProPharma’s footprint across Central and Eastern Europe. The region is experiencing unprecedented, rapid growth as clients and sponsors seek access to the region’s significant talent and expertise to advance pharmaceutical, medical device and diagnostic development programs.
Clinres Farmacija’s presence in the region also offers ProPharma immediate opportunities to access the broader European market and enables Clinres Farmacija the ability to expand its suite of services to customers. This acquisition reflects a critical step in ProPharma’s RCO journey by delivering innovative therapies, driving healthier outcomes, and expanding its footprint in post-market regulatory services and pharmacovigilance.
Michael Stomberg, ProPharma's Chief Executive Officer, said: "Clinres Farmacija brings a wealth of knowledge, established presence, and impressive track record with clients in Central and Eastern Europe. The addition of Clinres Farmacija to ProPharma significantly bolsters our ability to provide partners with comprehensive and cost-effective solutions and patient access. Today’s acquisition is the latest step in the development of our Research Consulting Organization model, growth strategy, and vision for the future."
Clinres Farmacija's CEO, Mrs. Romana Kajfež, Ph.D., said: "We are excited about our new chapter as part of ProPharma. Our shared vision of providing world-class clinical research services makes this partnership a perfect fit. We look forward to integrating our expertise and contributing to ProPharma's continued success."
With this acquisition, ProPharma has further solidified its position as the world’s largest RCO by strategically expanding its global footprint to deliver innovative services and solutions to its valued client partners.
For over 20 years, ProPharma has improved the health and wellness of patients by providing advice and expertise that empowers biotech, med device, and pharmaceutical organizations of all sizes to confidently advance scientific breakthroughs and introduce new therapies. As the world's largest RCO (Research Consulting Organization), ProPharma partners with its clients through an advise-build-operate model across the complete product lifecycle. With deep domain expertise in regulatory sciences, clinical research solutions, quality and compliance, pharmacovigilance, medical information, and R&D technology, ProPharma offers an end-to-end suite of fully customizable consulting solutions that de-risk and accelerate our partners' most high-profile drug and device programs.
For further information about ProPharma, please visit: https://www.propharmagroup.com.
Established in 2004 and headquartered in Zagreb, Croatia, Clinres Farmacija is a leading Contract Research Organization (CRO) known for offering a comprehensive suite of services to biotech, pharmaceutical, and medical device companies. Clinres Farmacija specializes in Phase II - IV clinical trials, and a offers a full range of regulatory services. With a strong regional presence across Central and Eastern Europe, Clinres Farmacija operates extensively in Croatia, Bosnia and Herzegovina, Serbia, Romania, Bulgaria, North Macedonia, Montenegro, Georgia, and Albania. Its diverse customer base and the strong recurrence of business underscore the reliability and excellence of Clinres Farmacija’s operations. Through a powerful combination of geographic coverage, operational experience, and a commitment to excellence, Clinres Farmacija is the regional partner of choice for clients seeking industry-leading clinical research services in Central and Eastern Europe.
For more information about Clinres Farmacija, please visit: https://clinres-farmacija.hr/.
Odyssey Investment Partners, with offices in New York and Los Angeles, is a leading private equity investment firm with more than a 25-year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified businesses with strong growth profiles. Odyssey makes majority-controlled investments in industries with a long-term positive outlook and favorable secular trends.
For more information about Odyssey, please visit: https://www.odysseyinvestment.com/.
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