Comac Medical, a Sofia-based full-service CRO in Central and Eastern Europe, has appointed a new CEO and established a new Supervisory Board as it embarks on an international expansion initiative under EdgeCap Partners.
Dr Chris Smyth joins as CEO, effective September 1, based in the UK. He replaces co-CEOs, Dr Rossitsa Vrabevska and Vladimir Goranov. Smyth brings over two decades of executive leadership in global CROs and biotech-focused clinical research. Most recently, he served as president of ICON Biotech, and prior to that, held multiple senior roles at IQVIA Biotech including president and COO.
The new Supervisory Board is to be chaired by Neil Ferguson. Ferguson is an experienced global commercial leader with over 35 years in the healthcare and pharmaceutical industries, with over 25 years in the outsourced services sector, including Syneos Health and Quintiles.
The appointments mark a significant milestone for Comac Medical as it enters its next phase of development, and will: “add significant momentum to our growth ambitions,” said Christopher Backes, co-founder of EdgeCap Partners.
Comac recently made two appointments in Germany, Christian Buhlmann as CCO and Peter Windisch as COO.
International expansion
Comac Medical has established local entities and teams in the US, Germany, and the UK to supplement the its established presence in Central and Eastern Europe. Dedicated business development teams have been launched in those countries, including on the East and West Coasts of the US, to support biotech and pharma clients in key innovation hubs.
In parallel to its organic expansion, Comac Medical will continue its targeted M&A strategy with the goal of becoming the leading pan-European full-service CRO for biotech and biopharma customers.
The company has a global customer base consisting of emerging biotech and established pharma companies, offering full outsourced clinical trial support across the entire clinical development spectrum. Its FDA and EMA-inspected Clinical Research Unit (CRU) for Phase I, Bioavailability and Bioequivalence studies has 20 years of experience in early phase clinical research. The facility is the largest in the region and comprises 42 beds, an on-site pharmacy as well as a clinical and bioanalytical laboratory.
Edgecap interest
EdgeCap Partners, a London- and Tallin-based PE and growth capital firm focused on investing in European mid-market companies, acquired a majority equity interest in the Comac Medical in June 2023. Founder Vrabevska, as well as other shareholders, retained a significant minority stake.
Press release: Comac Medical Announces New Leadership Appointments and International Expansion
