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Sofinnova Ventures Adds Biotechnology Executive Dr. David Kabakoff to the Life Science Team
Kabakoff Strengthens Sofinnova Presence in San Diego Market
SAN FRANCISCO, CA. – May 30, 2007 – Sofinnova Ventures, a venture capital firm investing in early-stage life science and information technology companies, today announced that the firm is expanding with the addition of noted entrepreneur and biotechnology professional David Kabakoff, Ph.D. in its San Diego, CA office. Following the appointment of Bill Ringo to the Sofinnova life science team earlier this month, the firm continues to add seasoned professionals. David will hold the role of Executive-in-Residence and manage the San Diego office. His chief responsibilities will be to participate in identifying and vetting prospective companies for funding, both in the San Diego region and elsewhere, and to offer his direct experience by coaching portfolio company CEOs in leading successful businesses.
“David has held a long-term relationship with Sofinnova, and we’re delighted to make it official,” said Mike Powell, Ph.D. and General Partner of Sofinnova Ventures. “With David’s excellent track record and established reputation for founding and holding senior positions within pharmaceutical companies, we are assured that he will be a strong asset for Sofinnova and our portfolio companies. Furthermore, David is the clear choice to lead our firm’s San Diego office and to help Sofinnova expand in the San Diego market through his strong connections in both the local academic and business communities.”
New Executive-in-Residence Appointment
David Kabakoff has 30 years of experience leading technology and product development programs in the pharmaceutical, biopharmaceutical and drug delivery fields. Before establishing a strategic consulting practice, David co-founded Salmedix, Inc., a developer of cancer drug treatments, and served as the company’s Chairman and Chief Executive Officer. In June 2005, David negotiated the acquisition of Salmedix by Cephalon, Inc. for $200 Million. David also held the positions of Executive Vice President and President while at Dura Pharmaceuticals, a specialty respiratory pharmaceutical and pulmonary drug delivery company. Earlier, David was also employed as a Chief Executive Officer of Spiros Development Corp., Chief Executive Officer of Corvas International and held senior executive positions with Hybritech.
He currently serves as Chairman of Trius Therapeutics (a Sofinnova Ventures portfolio company), Chairman of Amplimmune, Inc., and as a Director of Intermune, Inc., Avalon Pharmaceuticals, Inc. and Alylix, Inc. David received his Ph.D. from Yale University and his B.A. from Case Western Reserve University.
San Diego Office
The San Diego office marks the first satellite office for Sofinnova Ventures, a San Francisco, CA-based firm. San Diego has been targeted as a prime geographic region for Sofinnova due to the significant number of new companies being established in both life science and IT. Sofinnova’s current San Diego portfolio companies include: Ascenta Therapeutics, Ocera, Orexigen, Phenomix, Trius Therapeutics, and Tensys Medical. Sofinnova’s office will be centrally located in the BIOCOM VC Suites located at 4510 Executive Drive, Suite 206.
About Sofinnova Ventures
Founded in 1974, Sofinnova Ventures is a leading venture capital firm specializing in spin offs and emphasizing a diversified investment strategy through the financing of early stage companies in the life science and information technology sectors. Sofinnova’s mission is to create value by providing entrepreneurs with the resources, experience and networks necessary to turn their ideas into profitable businesses
Press contact:
Carol Wentworth
Director of Marketing
Sofinnova Ventures
carol@sofinnova.com
415-228-3395 (office)
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