BioMotiv Announces CEO Transition
CLEVELAND, FEBRUARY 25, 2019 — BioMotiv, a drug development accelerator associated with The Harrington Project for Discovery & Development, announced today that Baiju R. Shah will step down from his role as CEO, and Ted Torphy, PhD, BioMotiv’s Chief Scientific Officer, has been selected to serve as BioMotiv’s CEO during the transition while also continuing to serve as the company’s CSO.
“Under Mr. Shah’s leadership, BioMotiv has grown from a visionary concept into a robust, successful and mission-driven company that is well-positioned and well-resourced to succeed in accelerating breakthrough discoveries into medicines,” said Ron Harrington, Chairman of BioMotiv. “We appreciate his many contributions in establishing and building the enterprise.”
BioMotiv was founded in 2012 with the goal of advancing breakthrough discoveries from research institutions into therapeutics for patients. Since its inception, the company has developed from an innovative concept into a robust and successful drug development accelerator that has:
Attracted over $170 million in investor capital and grants to BioMotiv and its subsidiary companies;
Formed strategic partnerships with leading global pharmaceutical companies including Takeda, Biogen, Arix Bioscience, and Charles River Laboratories;
Initiated development on more than twenty technologies from leading research universities across the United States as well as foreign institutions; and
Partnered projects with Bristol-Myers Squibb, AstraZeneca, Brickell Biotech, and Johnson & Johnson.
“I have valued the opportunity to work with Ron Harrington and our board, our team, and our partners to launch this unique and admired innovation platform,” said Shah. “I am excited to see how BioMotiv and The Harrington Project will continue to grow.”
“Ted Torphy has been an outstanding Chief Scientific Officer for the company, and he has been instrumental in building the company’s profile and partnerships throughout the pharmaceutical industry,” continued Mr. Harrington. “I am pleased to have him serve as the CEO of BioMotiv through the transition and look forward to working with him to support the company’s continued growth and development.”
Dr. Torphy has been with BioMotiv since 2014 and has more than 30 years of experience in the pharmaceutical industry with a successful record in both small-molecule and large-molecule drug discovery and preclinical development. Prior to joining BioMotiv, he was the Global Head of External Innovation for J&J Drug Discovery and had previously served as Corporate Officer and Head of J&J’s Corporate Office of Science & Technology. Since 2006, Dr. Torphy has also chaired the Board of Directors of Cystic Fibrosis Foundation Therapeutics, Inc. which is recognized as the most successful disease-focused venture philanthropy organization.
“Building from an extraordinarily strong foundation and working with a great team and partners, we have the opportunity to realize our mission and through that, firmly establish a new model for developing promising discoveries into novel and impactful medicines that benefit patients and their families,” said Dr. Torphy. “I want to thank Ron Harrington and the entire BioMotiv board and team for their support.”
BioMotiv is the mission-driven accelerator associated with The Harrington Project for Discovery & Development, a $340 million initiative for advancing medicine centered at University Hospitals in Cleveland. The focus is to accelerate breakthrough discoveries from research institutions into therapeutics for patients through an innovative model that efficiently aligns capital and collaborations. The company leverages an experienced team and advisory board to select, fund, and actively manage and advance a portfolio of drug development programs.
For more information, go to: www.biomotiv.com