Liftstream is an executive search recruitment company in the life sciences sector
Liftstream Releases Board Director and CEO Compensation and Governance 2015 Report – San Diego Biotechnology Cluster
Executive committee leadership and oversight by experienced and skilled boards will improve performance and governance of the biotechnology companies driving innovation. Understanding the landscape of corporate governance in biotech clusters will help companies evaluate their own boards’ strength.
Fair and equitable compensation is a challenge which grips leaders at all levels of the corporate ladder. It is CEOs and Boards who often receive the brunt of the hostile objections to what are viewed as excessive rewards. While undershooting on compensation also provokes equally audible protestations among those who wish for the company to continue to attract market leading talent and retain it effectively. For many, the correlation between financial rewards and quality talent is incontestable. For others, the connection is more opaque and the financial gains seen as disproportionate.
The San Diego biotechnology cluster is among the top biotech clusters in the US. Life sciences activity accounts for more than $31.8 billion of economic impact in San Diego. According to California Life Sciences Industry 2016 Report (here), San Diego biotech cluster employed 38,061 people in 2014.
Zavante Therapeutics, a late clinical-stage biopharmaceutical company based in San Diego, California, has closed a $45 million Series A financing, consisting of $35 million from new investors and $10 million from the conversion of outstanding convertible notes.
aTyr Pharma, a San Diego-based biotherapeutics company addressing rare diseases, has appointed Sanjay Shukla as Chief Medical Officer. Shukla will lead aTyr’s clinical efforts to advance its Physiocrine biology therapeutic intervention points and develop medicines that promote tissue homeostasis for patients with rare diseases.
Adaptive Biotechnologies, a sequencing and bioinformatics company based in Seattle, Washington, has appointed Diego Miralles as president of Adaptive Therapeutics. Miralles will build the Therapeutics Division of Adaptive, and head the company’s efforts to leverage its platform for identifying T- and B-cell receptors for use in therapies. He will provide both scientific and commercial guidance to the existing and future programs and partnerships that Adaptive is implementing
Mirati Therapeutics, a targeted oncology company based in San Diego, California, has promoted Vice President of Finance Jamie A. Donadio to Senior Vice President and Chief Financial Officer. In his new role, Donadio will be responsible for all corporate finance and accounting activities for the company.
Sorrento Therapeutics, clinical-stage biopharmaceutical company in San Diego, and Yuhan Corporation, an established health care company based in Seoul, have entered into an agreement to form a joint venture, ImmuneOncia Therapeutics. The joint venture will develop and commercialise a number of immune checkpoint antibodies against undisclosed targets for both hematological malignancies and solid tumors.
Editas Medicine, a genome editing company based in Cambridge, Mass, has appointed John D. Mendlein to its board of directors. Mendlein has served as CEO of aTyr Pharma since 2011, as well as executive chairman for the company from July 2010 to January 2016.
Amplyx Pharmaceuticals, a San Diego-based company developing antifungal agents for the treatment of life-threatening fungal infections, has appointed Michael Hodges as chief medical officer, Karen Shaw as vice president of biology, and Elizabeth Gordon as vice president of regulatory affairs. The firm recently raised an USD8.7 million investment from 3×5 Partners, increasing its series B financing to USD49.2 million.