#None #Sofia #Comac Medical #EdgeCap Partners #Chris Smyth

Comac Medical's Leadership Changes and International Expansion

Comac Medical, a leading Contract Research Organization (CRO) in Central and Eastern Europe, is setting the stage for its next chapter with significant leadership appointments and a strategy aimed at global expansion.

Leadership Appointments

Recent developments have seen the appointment of Dr. Chris Smyth as the CEO, effective from September 1. With over two decades of extensive experience dealing with international CROs and clinical research, Dr. Smyth is poised to bring transformative leadership to Comac. His previous roles include being the President of ICON Biotech, along with several leadership positions at IQVIA Biotech, notably as President and COO.

In conjunction with this appointment, a new oversight board has been introduced, led by Neil Ferguson, an executive with over 35 years' experience in the health and pharmaceutical sectors. Ferguson has a rich history in the outsourcing industry, having contributed significantly to revenue growth at companies like Syneos Health and Quintiles. Standout members on the board include Dr. Milen Vrabevski, the founder and honorary president of Comac, along with representatives from EdgeCap including Dr. Günter Schmid, Christopher Backes, and Kristjan Piilmann, signifying a robust leadership lineup.

These appointments are seen as critical as Comac aspires to reinforce its market position, leveraging recent hires such as Christian Buhlmann as the Chief Commercial Officer and Peter Windisch as the Chief Operating Officer, both of whom are based in Germany.

Strategic International Expansion

In its bid to enhance its footprint, Comac Medical has established local entities and teams in major markets such as the USA, Germany, and the UK. This expansion is a strategic move to complement its significant presence in Central and Eastern Europe. Dedicated commercial development teams have been deployed in regions including the East and West coasts of the USA to assist biotech and pharmaceutical clients within key innovation hubs.

In addition to organic growth, Comac Medical plans to pursue a focused strategy of mergers and acquisitions, aiming to emerge as the foremost full-service CRO across Europe, specifically catering to the biotech and biopharmaceutical spheres.

Management Commentary

Dr. Chris Smyth articulated his excitement regarding his new role during this transformative period for Comac Medical: "I am thrilled to be joining Comac Medical at such a pivotal time of change and growth. We are solidifying an already strong legacy, expanding our regional presence, and remaining focused on creating exceptional value for our clients and opportunities for our teams."

Neil Ferguson echoed this sentiment, affirming his commitment to this new leadership team: "It’s an honor to support this leadership team and work with EdgeCap and Comac Medical at this new phase. We look forward to generating long-term value for our stakeholders and accelerating growth in key markets."

Dr. Milen Vrabevski, the founder, expressed pride in Comac Medical's accomplishments in Bulgaria and the Central and Eastern European region, reflecting on the strength of its foundation and global mission.

Christopher Backes, a co-founder of EdgeCap Partners, emphasized the seamless transition from the previous leadership to the new team while welcoming them for the substantial growth they are sure to bring.

About Comac Medical

Founded in 1997 in Sofia, Bulgaria, Comac Medical stands as one of the largest CROs in Central and Eastern Europe. The organization operates in over 30 countries, offering comprehensive drug development services covering all phases to pharmaceutical and biotech industries across various therapeutic areas, including oncology, rare diseases, dermatology, gastroenterology, and respiratory conditions. With a strong reputation for clinical trial services, Comac boasts a robust portfolio, underpinned by 20 years of experience in early-phase clinical research, amplified by facilities that include the largest dedicated clinical research unit in the region.

For more information, visit the official website of Comac Medical.