HOUSTON—This summer saw Pharm-Olam, a global mid-sized clinical research organization (CRO), announced that it had completed a change of ownership transaction that provides Pharm-Olam with enhanced financial flexibility and access to additional capital. All of this, the company says, to support its growth strategy as it continues to enhance services in the company’s five core therapeutic areas: oncology-hematology, infectious disease and vaccines, autoimmune, allergy and rare disease.
“Pharm-Olam has been in business for 26 years, and we are excited by the prospects of what awaits us in the next chapter of this organization’s story,” said CEO Rob Davie. “We continue to focus on our sponsors, our patients and our investigators to conduct high-quality clinical research. With the benefits of our new ownership and capital structure, we have assured a bright future is ahead for all our employees and the sponsors which we serve.”
A new board of directors also appointed with, the company said, “deep pharmaceutical, CRO and finance expertise to support Pharm-Olam’s attainment of their strategic intentions.”
“Pharm-Olam is already a recognized and award-winning CRO,” said Mike Cannizzaro, Pharm-Olam’s new board of directors’ chairman. “My goal and that of my fellow directors will be to help Pharm-Olam achieve their goal of being the industry’s preferred midsize CRO for the therapeutic areas they serve.”