NEOMED INSTITUTE ANNOUNCES NEW PRESIDENT & CEO AND CHAIRPERSON OF THE BOARD OF DIRECTORS
Montreal, February 15, 2017 – The NEOMED Institute today announced the appointment of Mr. Donald Olds as President and Chief Executive Officer and the concurrent election of Dr. Laurence Rulleau as Chairperson of NEOMED’s Board of Directors. Mr. Olds who had been Chair of the Board of Directors since NEOMED’s creation in 2012, will continue as a Director of the NEOMED Institute and as a Director of NEOMED’s subsidiary CRO, NEOMED-LABS.
Commenting on this announcement, Dr. Michael Berendt, Chairman of the Corporate Governance and Nominating Committee of the Board of Directors noted that: “The Board and I are extremely pleased that Mr. Olds and Dr. Rulleau have accepted to take on these key positions at this juncture in the development and evolution of NEOMED. Our primary mission is to promote the commercialization of leading edge scientific programs emanating from Canadian universities and small biotechnology companies. Both Donald and Laurence have extremely strong and successful track records for sourcing and closing licensing and company creation transactions and I know that their respective skill sets and experience will complement NEOMED’s established senior management team and staff particularly as some of our early programs attain key value inflection points.”
Mr. Olds noted “It is an honour and privilege to accept this appointment and to have the opportunity to continue to work with our Board, the NEOMED team and our large network of partners to advance leading edge Canadian science programs so as to ensure greater value capture for the benefit of the inventors and for Canada. There are too many examples of great Canadian science that has been developed and commercialized beyond our borders with modest retained value for the institution and Country that funded its development. I am also very excited to be teamed with Dr. Rulleau as my Chairperson who has the scientific and business experience to add great value to our commercialization efforts.”
Dr. Rulleau, Partner at CTI Life Sciences, a leading Canadian venture capital firm, continued: “I am convinced that NEOMED, as a Centre of Excellence for Commercialization, is well on its way to solidifying its international reputation as a leading centre for the commercialization of great Canadian science. NEOMED’s success in revitalizing two major Canadian R&D centres, preserving and creating hundreds of new, high quality jobs, is unique in Canada. These vibrant centres, in turn, provide an ecosystem that supports NEOMED in the delivery of its primary mission to advance and commercialize Canadian research. I am convinced that the appointment of Mr. Olds, an experienced biotechnology executive with an exemplary track record, is exactly the right appointment for NEOMED at this point in time.”
ABOUT NEOMED Institute
The NEOMED Institute is a not‐for‐profit organization whose mission is to create a bridge between basic research and the commercialization of new drugs by providing industrial expertise in drug discovery and development, combined with funding and a favorable ecosystem, to transform innovations into solid therapeutic solutions. NEOMED drives drug discovery activities up to the stage of human proof of concept. The NEOMED Institute has two fully integrated research and development campuses: one in Ville Saint‐Laurent, specializing in small molecule therapeutics, and the other facility, specializing in the development of biologics and vaccines, in Laval. Both facilities function as open‐access drug discovery hubs housing independent commercial businesses (30 independent companies employing almost 300 people) and providing a dynamic environment that stimulates collaboration, innovation, and creativity. NEOMED’s wholly-owned for-profit subsidiary, NEOMED-LABS, a Contract Research Organization (CRO) providing customized and high-throughput immune-monitoring for clinical vaccine development, is one of these tenants.
The NEOMED Institute is jointly funded by the pharmaceutical industry, the Ministère de l’Économie, de la Science et de l’Innovation du Québec, and the Networks of Centres of Excellence (NCE) of Canada.
For more information, please visit: www.neomed.ca
For more information, please contact:
President & CEO
Montreal, Quebec, H4S 1Z9
514-367-1212 Ext. 206