Pharma Mar SA

A small drug manufacturer in Spain, Pharma Mar SA was founded in 1986 and is responsible for the research and development of cancer-related medicines of marine origin. Pharma Mar developed the ovarian cancer drug, Yondelis, in addition to other drugs like Aplidin and Zepsyre. Yondelis is an antitumor medicine that is derived from sea squirts. Surprisingly, the company also manufactures products outside the healthcare industry, such as insecticides and air fresheners. Pharma Mar has an international presence, with operations outside of Spain, primarily in France, Germany, Italy, and the United States. Listed on the Madrid Stock Exchange, Pharma Mar is traded under the symbol, PHM. In June 1998, the company was able to raise $60 million in pre-IPO financing. This was Pharma Mar’s second round of pre-IPO financing, with the company raising $10 million in 1997. Pharma Mar owns several healthcare research subsidiaries. The first is GENOMICA, a company specialising in molecular diagnostics. The second is called Sylentis, a therapeutic applications company focusing on gene silencing. Traders looking to diversify their portfolio with healthcare stock should consider PHM.