The venture, called CTI Latin America, builds on an existing partnership to more closely integrate the companies’ offerings and make better use of their strengths in different regions.

Akron is an established presence in Latin America, a region where “local staff and experience is key to success”, according to Claudia Zylberberg, a member of the board of directors of CTI Latin America.

Over the past four years Akron has provided a number of services, from site selection to close out activities, in Latin America. These cover Phase I to IV clinical trials and bioequivalence and bioavailability studies.

CTI Latin America, which is headquartered in Buenos Aires, Argentina, aims to combine this local expertise with established business development, marketing and operations teams in North America and Europe.

Timothy Schroeder, CEO of CTI Clinical Trial and Consulting Services (CTI), added that the company is looking forward to introducing its pharma and biotech clients to Akron’s Latin American operations.

As well as targeting European and North American pharma, the joint venture also believes interest from Latin American companies is increasing. These firms are looking to sell products overseas and consequently need contract research organisations (CRO) with global capabilities.

“Under this scenario, the synergies coming from this agreement will allow us to expand and improve our offering both in terms of services and geographic coverage”, commented Laura Bocanera, CEO of CTI Latin America.