Pharmatest Services Ltd opens U.S. sales office in Cambridge, Mass.

March 5, 2013

CAMBRIDGE, Mass. / TURKU, Finland – March 5, 2013 – Finnish company Pharmatest Services Ltd (Pharmatest) announced today that it has opened a new U.S. sales office in Cambridge, Mass., near Boston. The new office, located in the Cambridge Innovation Center (CIC) in Kendall Square, will provide an excellent opportunity for Pharmatest to contact and serve customers in the Massachusetts area.

Pharmatest offers clinically predictive preclinical efficacy services for the pharmaceutical industry for testing their drug candidates in the fields of oncology and skeletal diseases. The company has already a wide customer base in the U.S. With the new sales office and increased U.S. sales and marketing efforts, Pharmatest expects to rapidly grow the number of U.S. customers and sales figures.

“I am very excited for the opportunity to work for Pharmatest,” said Cambridge new-hire Andrew Heiniluoma, Pharmatest U.S. Sales Representative. “Cambridge is a perfect site for a U.S. sales office, and the Boston area is unique in the U.S. in terms of the presence of the pharma industry, providing an outstanding opportunity for attracting new customers for Pharmatest.”

“The U.S. has the biggest market potential for our services, and we now have a clear strategy to focus on increasing our U.S. market share,” said Jussi Halleen, CEO of Pharmatest. “We are very happy to have Andy on board in Cambridge, which allows us to get closer to our customers. I am convinced that this will boost our U.S. revenues in the coming years.”

“Investing in education, innovation and infrastructure is a winning growth strategy for Massachusetts and is the reason we lead the world in life sciences,” said Governor Deval Patrick. “We welcome Pharmatest to the Massachusetts biotech supercluster and look forward to the jobs and economic opportunities they bring.”

Through the Massachusetts Life Sciences Center, Massachusetts is investing $1 billion over 10 years in the growth of the state’s life sciences supercluster. These investments are being made under the Massachusetts Life Sciences Initiative, proposed by Governor Patrick in 2007, and passed by the State Legislature and signed into law by Governor Patrick in 2008.

“We are excited to welcome Pharmatest to the fast-growing Massachusetts life sciences supercluster,” said Susan Windham-Bannister, Ph.D., President & CEO of the Massachusetts Life Sciences Center. “Pharmatest is part of a growing community of international life sciences companies that have chosen Massachusetts as the best place to expand and do business.  We are confident that Pharmatest, as a contract research organization, will find in Massachusetts the partners and client base they need to be successful.”

Pharmatest is among a growing group of international companies that have recently picked Massachusetts as the place to expand their business in the U.S.

“I am pleased to learn of Pharmatest’s new office in Cambridge,” said Senator Anthony Petruccelli. “Kendall Square and the City of Cambridge continue to be the most attractive environment for our life sciences industry.”

“I'm thrilled to see another global company creating jobs in Cambridge,” said Representative Timothy Toomey. “Pharmatest's solid performance record is clear, and I welcome them to our community.”

“I join the Governor in welcoming Pharmatest to Massachusetts,” said Tom Gradel, Manager of Business Development and Protocol Officer at the Massachusetts Office of International Trade & Investment. “Pharmatest will join a broad and deep ecosystem in the global hub of life sciences.”

“Massachusetts has become the destination for the world’s most innovative companies across the entire life sciences spectrum,” said Robert K. Coughlin, President & CEO of MassBio, a 600+ member life sciences trade association. “We are thrilled to welcome Pharmatest and know they will play a very important role in our world-class life sciences ecosystem.”

Pharmatest’s new U.S. office is based at:

Pharmatest Services Ltd

Cambridge Innovation Center

Cambridge, MA 02142

USA

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