Comac Medical Expands Internationally with New Leadership Appointments

In a significant move marking its commitment to growth, Comac Medical, a prominent Contract Research Organization (CRO) based in Central and Eastern Europe, has announced new executive leadership and an ambitious international expansion strategy. This initiative is seen as the next step in the company’s evolution, particularly under the guidance of its new investor, EdgeCap Partners.

New Leadership Appointments

Dr. Chris Smyth has been appointed as CEO, effective September 1. A seasoned leader with over twenty years of experience in the clinical research landscape focused on biotechnology, Dr. Smyth previously served as President of ICON Biotech and held numerous executive roles at IQVIA Biotech, where he contributed to significant advancements in clinical methodologies.

Taking on the role of Chairman of the Board is Neil Ferguson, who brings over 35 years of healthcare and pharmaceutical industry expertise, particularly in outsourced services. Ferguson's previous positions included senior roles at Syneos Health and Quintiles, driving substantial revenue growth and operational expansion. The new Board, which includes Dr. Milen Vrabevski (founder and honorary chairman), Dr. Günter Schmid, Christopher Backes, and Kristjan Piilmann from EdgeCap, is poised to provide strategic oversight as Comac Medical enters a new era.

The leadership changes also highlight the recent recruitment of Christian Buhlmann as Chief Financial Officer and Peter Windisch as Chief Operating Officer, reinforcing the management team with experienced professionals from the industry.

Strategic International Expansion

Comac Medical is enhancing its operational presence by establishing local units and teams in the United States, Germany, and the United Kingdom. This expansion is designed to complement its established stronghold in Central and Eastern Europe, allowing the company to better serve its biotech and pharmaceutical clientele across key innovation hubs.

Specialized business development teams have been formed on both coasts of the USA to cater to local markets, thereby enhancing customer engagement and support.

In tandem with this organic growth initiative, Comac Medical plans to pursue a targeted mergers and acquisitions strategy aimed at becoming the leading full-service CRO in Europe for the biotech and biopharma sectors. This dual approach positions the company to maximize its market potential while providing a broad range of clinical services tailored to client needs.

Leadership Insight

Dr. Chris Smyth expressed enthusiasm about joining Comac Medical during this transformative phase. He emphasized building on the company’s robust legacy while extending its regional reach. The primary goal remains to deliver exceptional value for clients and create new opportunities for employees.

Neil Ferguson echoed similar sentiments, expressing his eagerness to lead the board in creating enduring value for stakeholders while accelerating growth in key markets. He highlights the focus on long-term objectives rather than short-term gains.

Dr. Milen Vrabevski, the founder, expressed pride in Comac Medical's role as a pioneer in clinical research within Bulgaria and the CEE region, while marking the new chapter in its international expansion as a reflection of the organization's strength and mission relevance.

Christopher Backes from EdgeCap also acknowledged the efforts of co-CEOs Dr. Rossitsa Vrabevska and Vladimir Goranov, who navigated Comac through its founding years, welcoming the new leadership team as a significant boost to growth ambitions.

About Comac Medical

Founded in 1997 in Sofia, Bulgaria, Comac Medical has emerged as one of the largest full-service CROs in Central and Eastern Europe, operating across more than 30 countries. Offering a comprehensive suite of services ranging from early to late-phase drug development, it caters to a variety of therapeutic areas, including oncology, rare diseases, dermatology, gastroenterology, and respiratory disorders. Comac Medical's clinical research unit, which has been inspected by the FDA and EMA, boasts significant capabilities and has made notable contributions to early clinical research.

With a diverse client base composed of both emerging biotech and established pharmaceutical companies, Comac Medical underscores its commitment to advancing the clinical trial landscape by delivering outsourced solutions throughout the full spectrum of clinical development.

For more information, visit Comac Medical's corporate website.