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The company was founded in 1986, starting as an R&D unit of Spanish pharmaceutical company Zeltia. Its focus was on developing methods to treat diseases caused by genetic defects, such as cancer and autoimmune disorders. The first drug developed by the company, KYNic (Kytril®) was approved by the European Medicines Agency in 1995. Since then, Pharma Mar has grown to become a leader in oncology, with over 20 approved products now available in over 70 countries, and more than 150 clinical studies in progress.