Boston based venture capital powerhouse Third Rock Ventures, have announced the appointment of Michael W. Bonney as partner. Mr. Bonney was previously the CEO of Cubist Pharmaceuticals until its acquisition by Merck & Co. Mr. Bonney brings to Third Rock extensive operational, commercial, and senior management expertise in the biopharmaceutical industry. Prior to serving as the CEO of Cubist from June 2003 until December 2014, Mike served as president and chief operating officer of the company, joining in 2002. From 1995 to 2001, he held various positions of increasing responsibility at Biogen, including vice president, sales and marketing. Prior to joining Biogen, he held positions in sales, marketing, and strategic planning at Zeneca Pharmaceuticals, concluding his 11-year career there as national business director. He currently also serves as a board director of two significant biotech companies, Celgene and Alnylam.Watch Full Movie Online Streaming Online and Download
In announcing the appointment, Mike Bonney said: “I am delighted to be joining this exceptional team at Third Rock and look forward to leveraging my years of industry experience as we continue to build companies that can make a meaningful difference in the lives of patients and their families,” said Mr. Bonney. “There were many factors supporting my decision to join Third Rock, including the ability to put meaningful capital to work to advance the powerful and unprecedented scientific discoveries emerging from academia and industry today. Also very compelling to me is the opportunity to train and mentor the industry’s next generation of leaders. In this regard, Third Rock has proven that – in addition to building great companies, it also builds great leaders. Overall, I have been very impressed with the firm’s differentiated and hands-on approach to discovering, launching, and building great companies based on bold ideas that meet at the intersection of science, strategy, business and medicine, and I am eager to contribute to this effort.”
Kevin Starr, Third Rock co-founder and partner and also co-director to Bonney at Alnylam, said of Bonney: “Mike possesses qualities we deem critical for building great companies, such as operational excellence, a collaborative nature, and an entrepreneurial spirit,” said Kevin Starr, co-founder and partner at Third Rock Ventures. “Under Mike’s leadership, Cubist successfully made the rare transition from startup to true global biotechnology leader, with a strong portfolio of breakthrough marketed products and tremendous growth potential – resulting in its acquisition by Merck. It is clear we share the same values and priorities as evidenced by Mike’s ability to deliver impressive results for shareholders and important therapies to patients, while simultaneously creating a dynamic company culture and building a talented, diverse leadership team at Cubist. Mike also shares our vision for the future of value-based medicine and he has demonstrated commitment in this area by helping to impact the pricing and reimbursement landscape of the biopharmaceutical industry – something we also view as critical to building successful, product-focused biotechnology companies. His broad experience across commercial, R&D, and drug discovery will be invaluable to Third Rock and our portfolio companies and we are excited to welcome him to the team.”
Bonney was a strong proponent of diverse leadership while at Cubist, providing a case study to Liftstream’s report Diversifying the Outlook – The X&Y of Biotechnology Leadership and he also recently participated in Liftstream’s leadership forum in Cambridge, MA; Stepping Up to the C-suite and Board.