ProPharma Sets New Roots in RTP, With Plans to Shake Up Traditional CRO Model
By Alex Keown
April 4, 2023
ProPharma Group will take its disruptor clinical services business model to Raleigh to plant its research consulting flag in Research Triangle Park and “break the hold” traditional contract research organizations have established in the life sciences hub.
Previously headquartered in Kansas, ProPharma describes itself as the world’s first Research Consulting Organization (RCO). The company said its business model sets it apart from traditional clinical research organizations (CROs). On its website, the company explains traditional CROs offer a “cookie-cutter” agenda, which it says provides little in the way of compromise for small trial sponsors.
RTP is home to more than 150 CROs that employ thousands of people. Some noted CROs located in the region include Labcorp, IQVIA, FHI Clinical, Parexel, PPD, Syneos Health and more.
ProPharma’s RCO model “leads with strategy to help de-risk programs and create tailored solutions to maximize probability of success,” the company said. ProPharma partners with its clients through an advise-build-operate model and provides expertise in regulatory sciences, clinical research solutions, quality and compliance, pharmacovigilance, medical information, and R&D technology.
“As a disruptor in the Clinical Research consulting and services space… ProPharma strives with the move to also break the geographic mold for the clinical research services industry, which has historically made Durham, N.C. its home base. The move to downtown Raleigh will be a differentiator in attracting and retaining top talent who are brought in by the vibrant city culture,” ProPharma said in its announcement.
The new Raleigh site will serve as ProPharma’s headquarters for global operations. ProPharma will move into a near century-old building that formerly housed a noted antiques business in downtown Raleigh. The company will take space on three floors in the building, which will provide it with ample room for expansion to accommodate future growth and collaboration, the company announced.
In its announcement, ProPharma said its move to Raleigh “reflects the company’s commitment to expanding its global presence and investing in its workforce in one of the world’s leading life sciences hubs.” Currently, ProPharma has approximately 2,500 employees operating across the globe. Being headquartered in Research Triangle Park will enable ProPharma to attract top industry talent as it looks to expand, the company said. ProPharma plans to add between 75 and 100 new positions to its Raleigh operations over the next two years.
“The growth in downtown Raleigh over the past few years has been monumental, and we’re excited to add another dimension to the city’s expanding commerce and life sciences scene. We are also proud to be the first ever Research Consulting Organization to call downtown Raleigh its home,” ProPharma Chief Executive Officer Michael Stomberg said in a statement.
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Alex Keown is a freelance journalist who writes about a variety of subjects including the pharma, biotech, and life science industries. Prior to freelancing, Alex has served as a staff writer and editor for several publications.
