Pharm-Olam, a global midsized clinical research organization (CRO), has completed a change of ownership transaction on Friday June 19, 2020. This transaction provides Pharm-Olam with enhanced financial flexibility and access to additional capital to support its growth strategy, as it continues to enhance their 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 Rob Davie, chief executive officer. "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."
This change in ownership will be seamless to day-to-day operations which will proceed as normal and Pharm-Olam will continue to move forward with their strategic plans to further enhance their CRO services.
A new board of directors has been appointed with 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."