London, UK: Ergomed plc, (LSE: ERGO or 'Ergomed') a profitable UK-based company, dedicated to the provision of specialised services to the pharmaceutical industry and the development of new drugs, today announced the opening of a new office in Taiwan. This expansion strengthens Ergomed's clinical research and consultancy presence in Asia, and is a key element of the company's strategic growth plan set out at the IPO.
This is Ergomed's first office in Asia. The Company has decided to invest in organic growth as a first step. The new subsidiary company in Taipei will act as a hub for business activity across the country and the wider Asian market, ensuring Ergomed is best placed to support existing and new clients working in the region.
Miroslav Reljanovic, Chief Executive Officer of Ergomed plc commented: "We are very pleased to open an office in Taiwan where there is an expanding life science market. The Taiwan operations are in line with our strategy to expand in Asia through organic growth and acquisitions as stated at our IPO. We are currently working with some exciting Taiwanese companies and the new office gives us the platform to offer our services to pharma and biotech companies in the entire region.It is important for our clients in Taiwan to have local on-the-ground support integrated with an international drug development capability, and we can now provide that very effectively through our Taipei office."
The Taiwan operations will be led by the new Executive Director Global Clinical Operations, Dr Sy-Shi Wang who joined Ergomed in 2014. Dr Wang brings extensive international experience including Asia. She has worked previously at global US biotechnology companies with responsibility for all global strategic and executional aspects of clinical development.
Ergomed has particular expertise in the clinical development of oncology, immunology and orphan drugs. This along with its Co-Development Business – where Ergomed leverages its expertise and services in return for carried interest in the drugs under development – are areas of focus for the Asian operations. The new team will be backed by the full resources of Ergomed's extensive worldwide operations currently in over 40 countries.
Dr Sy-Shi Wang,Executive Director Global Clinical Operations of Ergomed, said: "Taiwan is a market with tremendous potential and home to some of the world's most progressive, forward-thinking organisations in biopharma development. I am very excited by the opportunity this presents and the foothold it provides Ergomed to expand further our Asian presence."
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For further information, please contact:
Mary Clark, Supriya Mathur and Hollie Vile
Tel: + 44 203 440 5654
Stifel Nicolaus Europe Limited
Advisers/Broker to the Company
Jonathan Senior, Giles Balleny
Tel: +44 207 710 7600
Ergomed Plc is a profitable UK-based company, providing drug development services to the pharmaceutical industry and has a growing portfolio of co-development partnerships. It operates in over 40 countries.
Ergomed provides clinical development, trial management and pharmacovigilance services to over 60 clients ranging from top 10 pharmaceutical companies to small and mid-sized drug development companies. Ergomed successfully manages clinical development from Phase I through to late phase programmes. Global pharmacovigilance and medical information services are provided through its group company PrimeVigilance. (www.primevigilance.com)
Ergomed has a wide therapeutic focus, with a particular expertise in oncology, neurology and immunology and the development of orphan drugs. Ergomed believes its approach to clinical trials is differentiated from that of other providers by its innovative Study Site Management model and the use of Study Physician Teams, resulting in a close relationship between Ergomed and the physicians involved in clinical trials.
As well as providing high quality clinical development services, Ergomed is building a portfolio of co-development partnerships with pharma and biotech companies which share the risks and rewards of drug development. Ergomed leverages its expertise and services in return for carried interest in the drugs under development. For further information, visit: http://ergomedplc.com
Forward Looking Statements
Certain statements contained within the announcement are forward looking statements and are based on current expectations, estimates and projections about the potential returns of Ergomed plc ("Ergomed") and industry and markets in which Ergomed operates, the Directors' beliefs and assumptions made by the Directors. Words such as "expects", "anticipates", "should", "intends", "plans", "believes", "seeks", "estimates", "projects", "pipeline" and variations of such words and similar expressions are intended to identify such forward looking statements and expectations. These statements are not guarantees of future performance or the ability to identify and consummate investments and involve certain risks, uncertainties, outcomes of negotiations and due diligence and assumptions that are difficult to predict, qualify or quantify. Therefore, actual outcomes and results may differ materially from what is expressed in such forward looking statements or expectations. Among the factors that could cause actual results to differ materially are: the general economic climate, competition, interest rate levels, loss of key personnel, the result of legal and commercial due diligence, the availability of financing on acceptable terms and changes in the legal or regulatory environment.
These forward-looking statements speak only as of the date of this announcement. Ergomed expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in Ergomed's expectations with regard thereto, any new information or any change in events, conditions or circumstances on which any such statements are based, unless required to do so by law or any appropriate regulatory authority.