(MENAFN- GlobeNewsWire - Nasdaq) industry Veterans Appointed to Drive Strategic Vision of the Specialized investment Fund
BOSTON, Oct. 16, 2024 (GLOBE NEWSWIRE) -- NYBC Ventures LLC (“NYBC Ventures”), a specialized fund focused on investments in blood and cellular technologies, announced today the formation of its limited liability company structure and the addition of four esteemed industry leaders to its newly-constituted Board of Managers. This critical step advances NYBC Ventures' mission of accelerating groundbreaking life science innovations and expanding New York Blood Center Inc.'s (NYBCe) influence within the blood and cell-related ecosystems.
“We are incredibly proud of the progress the fund has achieved since its inception in 2022 and are excited to further support impactful biopharmaceutical and other investments,” said Christopher D. Hillyer, MD , President and CEO of NYBCe, and General Partner and Manager of NYBC Ventures.“With a $50 million commitment, we've deployed capital across 15 companies that are delivering breakthrough solutions to address significant challenges in hematology, transfusion medicine, cell therapy, and infectious diseases.”
The newly appointed Board of Managers comprises recognized industry veterans whose expertise will enhance NYBC Ventures' strategic capabilities in specialized investing. Their collective experiences will be key in identifying, guiding, and scaling investments in groundbreaking companies. The four new additions join Christopher D. Hillyer, MD , and Jay Mohr , Executive Vice President & Chief Business Officer at NYBCe, and General Partner and Manager at NYBC Ventures, on the Board which now includes:
John Rosenthal (Board Chair) : Executive Vice President and Chief Investment Officer at Brighthouse Financial, Mr. Rosenthal has over 40 years of investment management experience, including at MetLife, Inc. where he held multiple leadership roles and served as Chair MetLife's Corporate Blood Program. He has been a trustee of NYBCe since 2018 and chairs its Finance Committee. Mr. Rosenthal holds a BA in Economics from Franklin & Marshall College and an MBA from Cornell University.
Christopher D. Hillyer, MD (General Partner): President and CEO, New York Blood Center Enterprises; General Partner, NYBC Ventures; Distinguished Investigator, Lindsley F. Kimball Research Institute; and Professor, Department of Medicine, Weill Cornell College of Medicine. An internationally recognized expert in hematology, transfusion and transplantation, and cellular/gene therapies, Dr. Hillyer brings a unique combination of vision, executional experience, and proven success as a seasoned business executive, scientist, board member, and global leader. Dr. Hillyer has a distinguished career as a board-certified physician in internal medicine, hematology, medical oncology, and transfusion medicine. He received his BS with Honors from Trinity College and his MD from the University of Rochester School of Medicine, with postgraduate training and fellowships in hematology-oncology, transfusion medicine, and bone marrow transplantation at Tufts-New England Medical Center in Boston.
Jay Mohr (General Partner): Executive Vice President and Chief Business Officer of New York Blood Center Enterprises' (NYBCe), where he leads NYBCe's cell therapy manufacturing business unit, Comprehensive Cell Solutions®, the specialty pharmacy and business development activities. Mr. Mohr has over 30 years of executive-level and entrepreneurial experience in the biopharmaceutical industry, generating over $1B in shareholder value over the course of his career. He holds a BA in Economics and German from Vanderbilt University, and an MBA from The Wharton School of the University of Pennsylvania.
Jung Choi (Manager) : An executive with over 25 years of experience in novel biopharmaceutical drug development and commercialization, Ms. Choi serves as Entrepreneur-in-Residence at Third Rock Ventures and Director of Annexon Biosciences and Marea Therapeutics. She and her teams have closed over 50 transactions valued at more than $17 billion. Her prior roles include Chief Business and Strategy Officer at Global Blood Therapeutics and senior positions at Gilead Sciences and InterMune. She has been a trustee of NYBCe since 2020. She holds an BA and MBA from Stanford University.
Cristina Csimma, PharmD (Manager) : A Director of Syncona, Ltd. and Chair of Sardona Therapeutics, with decades of experience in global drug development and biotech value creation, Dr. Csimma held leadership roles spanning venture capital and major pharmaceutical firms, including Pfizer. Dr. Csimma holds degrees from Massachusetts College of Pharmacy and Northeastern University.
David Kabakoff, PhD (Manager) : A biochemist with over 30 years in diagnostic and pharmaceutical development and 18 years as a venture investor, Dr. Kabakoff serves as Executive Partner at Sofinnova Investments and Founding Senior Partner at HealthQuest Capital. He has co-founded and led multiple biotech companies and currently chairs NextCure. He holds a PhD from Yale University and a BA from Case Western Reserve University.
“John, Jung, Cristina, and David are not just leaders in their fields – they are visionaries with proven track records of driving strategic growth in the life sciences,” said Jay Mohr .“Their guidance will be pivotal as we continue to support early and established companies advancing innovations in blood and cellular therapies.”
“It's an honor to join as Chair of NYBC Ventures' Board of Managers and to work alongside this talented team,” said John Rosenthal .“We look forward to leveraging our collective expertise to guide the fund's success.”
About NYBC Ventures
NYBC Ventures is an early-stage life sciences investment fund dedicated to advancing innovations in blood and cellular therapies. The fund invests in therapeutics, devices, and cutting-edge technologies that address critical challenges in these fields. Its mission is to improve patient outcomes by supporting groundbreaking therapeutics, platforms, and collaborative efforts. For more information, visit nybcventures.com .
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