Portland, Ore.-based CRO Cromos Pharma, which operates predominantly in Eastern/Central Europe, has implemented a risk-sharing platform partnering with biotech, pharma and device companies with promising drug, biologics or medical device technologies.

Cromos Pharma offers several unique business partnership algorithms through its risk-sharing model, including clinical research program conduct in exchange for equity or licensing opportunities.

"I have been intimately involved in the formation of a biotechnology company and understand how difficult it is to raise sufficient funds even for the most exciting and ground-breaking medical discoveries," said Dr. Vlad Bogin, Cromos Pharma's CEO. "Cromos Pharma has experienced steady and sustained growth and now is positioned to offer companies with promising clinical programs mutually beneficial partnership algorithms."

"Over the years we have been approached by a number of biotech companies with compelling technologies," said Dr. Andrey Tarakanov, the company's managing director. "Cromos Pharma's team would be asked to develop a trial protocol or perform a feasibility study, but then the process would stall due to that company's financial constraints."

"We want to change this paradigm and help the companies advance the science we believe in," said Bogin. "Cromos Pharma's team is experienced in clinical research, biopharmacology and medicine—this expertise and our state-of-the-art facilities uniquely position Cromos Pharma to accurately evaluate medical technologies and select the best partners."

Cromos Pharma, founded in 2004, manages phase I-IV clinical trials in Belarus, Bulgaria, Czech Republic, Estonia, Georgia, Hungary, Israel, Latvia, Lithuania, Moldova, Poland, Romania, Russia, Slovakia and Ukraine, with corporate headquarters in the U.S. and business development offices in Ireland. In 2011, Cromos Pharma and two other Russian companies joined forces by creating a strategic partnership—3C Alliance—that provides an unprecedented scope of services to the Russian clinical trials market.