Kymos Pharma Services acquires Italian firm Pharmaprogress

Kymos Pharma Services, a Contract Research Organization (CRO) located at the Vallès Technology Park in Cerdanyola del Vallès, has acquired Italian firm Pharmaprogress in order to accelerate its international expansion plan, which it began five years ago. With this acquisition, Kymos hopes to boost sales in Italy by €1 million in 2017, making this country its main foreign market, followed by France, where it has a strong presence thanks to the strategic deal reached with multinational corporation Ipsen in 2012. 

According to the company's CEO Joan Puig de Dou, by acquiring Pharmaprogress they will be able to offer a wider range of services and project-management options to clients in Italy, especially in the biologicals arena. The company has not made public the amount it paid for Pharmaprogress.

Kymos, which specializes in R&D and quality-control services for the biotechnology, pharmaceutical, veterinary, phytosanitary, nutraceutical and cosmetics industries, puts exports at nearly 50% of its turnover and hopes to hit sales of €7 million this year. Founded in 2001, the company currently employs a team of 80 professionals and its main markets are Italy, France, Switzerland, Germany and Portugal.

Pharmaprogress is a private CRO located in Ancona, in the Marche region of Italy, that is firmly established in the Italian pharmaceutical market, offering bioanalysis and quality-control services for drugs. It has a staff of 10 employees.