Prestigious Scientific Leaders Join InterWest Advisory Committee
Prestigious Scientific Leaders Join InterWest Advisory Committee Apr 2008
Menlo Park, CA - April 7, 2008 - InterWest Partners announced today the appointment of three internationally renowned scientists to the venture capital firm's Advisory Committee: Caltech president Dr. Jean-Lou Chameau, biotechnology pioneer Dr. Leroy Hood, and former FDA commissioner Dr. Mark McClellan. The three will join InterWest's roster of experienced professional advisors, providing strategic guidance to the firm and its portfolio companies.
"Drs. Chameau, Hood and McClellan each bring a wealth of experience and knowledge to our business and will be instrumental in the continued development of our portfolio as well as the innovators we serve," said Dr. Arnold L. Oronsky, general partner at InterWest. "We are excited to welcome these three luminaries to the InterWest team."
Dr. Jean-Lou Chameau leads one of the world's preeminent centers of instruction and research in engineering and science, the California Institute of Technology (Caltech). Prior to becoming president of Caltech, Dr. Chameau served as professor, research scholar and provost of Georgia Tech in Atlanta; he also served as dean of Georgia Tech's College of Engineering, the largest engineering school in the country. His undergraduate education took place in France and he received his graduate degree in civil engineering from Stanford University. He is the former president of Golder Associates, an international geotechnical consulting company, and currently serves on the boards of directors for MTS Systems Corporation, the Academic Research Council of Singapore, the Council on Competitiveness, and l'Ecole Polytechnique. Dr. Chameau was the recipient of a National Science Foundation Presidential Young Investigator Award, the ASCE Arthur Casagrande Award, the Rodney Chipp Memorial Award from the Society of Women Engineers, and the Prix Nessim Habif from the Ecole Nationale Supérieure des Arts-et-Métiers.
Leroy Hood, M.D., Ph.D., has been a member of the InterWest Life Sciences Advisory Committee and will be expanding his relationship with InterWest by joining InterWest's Advisory Committee. He is the president and co-founder of the Institute for Systems Biology in Seattle, a pioneer in systems approaches to biology and medicine. Dr. Hood's research has focused on the study of molecular immunology, biotechnology and genomics. His professional career began at Caltech, where he and his colleagues developed the DNA gene sequencer and synthesizer and the protein synthesizer and sequencer—four instruments that paved the way for the successful mapping of the human genome. A pillar in the biotechnology field, Dr. Hood has played a role in founding more than 14 biotechnology companies, including Amgen, Applied Biosystems, Systemix, Darwin and Rosetta. He is a member of the National Academy of Sciences, the National Academy of Engineering, and the Institute of Medicine. Of the 6,000+ scientists elected to one or more of these academies, Dr. Hood is one of only seven scientists elected to all three of them. He is also a member of the American Philosophical Society and the American Academy of Arts and Sciences. His work has been widely published and he has coauthored numerous textbooks in biochemistry, immunology, molecular biology and genetics, as well as a popular book on the human genome project, The Code of Codes. He is the recipient of numerous awards, including the prestigious 2004 Biotechnology Heritage Award.
Mark McClellan, M.D., Ph.D., is currently the director of the Engleberg Center for Health Reform, senior fellow in Economic Studies and Leonard D. Schaeffer Director's Chair in Health Policy Studies at the Brookings Institution in Washington, D.C., where he is actively involved in healthcare technology, policy and economics. From 2004 to 2006, Dr. McClellan was the administrator for the Centers for Medicare and Medicaid Services in the U.S. Department of Health and Human Services. In this position, he was responsible for administering the Medicare and Medicaid programs, including Medicare Part D, the prescription drug benefit program engendered by the Medicare Prescription Drug, Improvement, and Modernization Act. From 2002 to 2004, Dr. McClellan was the commissioner of the U.S. Food and Drug Administration (FDA), following unanimous Senate confirmation. Prior to joining the FDA, Dr. McClellan served on the President's Council of Economic Advisors and was associate professor of economics at Stanford University, associate professor of medicine at Stanford Medical School, a practicing internist and director of the Program on Health Outcomes Research at Stanford University. He was also a research associate of the National Bureau of Economic Research and a visiting scholar at the American Enterprise Institute. Dr. McClellan has twice received the Arrow Award for Outstanding Research in Health Economics. He received an M.D. from the Harvard-MIT Division of Health Sciences and Technology, a Ph.D. in economics from MIT, and an MPA from the Harvard University Kennedy School of Government; he is board certified in internal medicine.
Drs. Chameau, Hood and McClellan will be joining current Advisory Committee members Frank Marshall and Professor John G. McDonald:
Frank Marshall is a consultant and investor in early-stage technology companies. Mr. Marshall is a former director of Juniper Networks (NASDAQ: JNPR) and PMC-Sierra Inc. (NASDAQ: PMCS) and the former chairman of Netscreen Technologies Inc. (acquired by Juniper Networks). He served as vice chairman and interim CEO at Covad Communications during the company's turnaround and restructuring in 2000 and 2001. Mr. Marshall is the former vice president and general manager of Cisco Systems' Core Business Unit, the founding vice president of engineering at Convex Computer, and the vice president and general manager of computer products at Mostek. He received his M.S.E.E. at the University of California at Irvine.
Professor John G. (Jack) McDonald is the Stanford Investors Professor in the Graduate School of Business at Stanford University. He is a recognized expert in private and public equity investing and has served as the vice chairman of the Board of Governors for the National Association of Securities Dealers (NASD), which operated the NASDAQ Stock Market. Professor McDonald currently serves on the boards of mutual funds managed by Capital Research and Management Company and a number of other companies. He has been a member of the InterWest Advisory Committee since its inception in 1979. 2008 marks Professor McDonald's 41st year at Stanford GSB teaching Investment Management and Entrepreneurial Finance, a course on fundamental investing in public and private equity markets for second-year MBA students at Stanford. He also teaches Private Equity Investing and Venture Capital, as well as an investment seminar that he first introduced in the late 1960s at Stanford.
About InterWest Partners
For more than 30 years, InterWest has partnered with exceptional entrepreneurs to build winning technology and life sciences companies. With more than 200 years of combined operating and investing experience, the firm’s investing team has raised $2.8B, completed more than 70 IPOs, and participated in nearly 60 upside acquisitions. As the firm invests InterWest X, a $650M fund, the InterWest team continues to believe that providing capital is just the beginning of a long-term collaboration with entrepreneurs to turn their vision into a thriving company.
The firm's past successful investments in life sciences include: AkaRx (acquired by Eisai), ArthroCare (ARTC), Aspreva Pharmaceuticals (ASPV; acquired by Galenica group, GALN), Cor Therapeutics (CORR; acquired by Millennium Pharmaceuticals, MLNM), Corixa Pharmaceuticals (CRXA; acquired by GlaxoSmithKline, GSK), Coulter Pharmaceuticals (CLTR; acquired by Corixa Pharmaceuticals, CRXA), Cubist Pharmaceuticals (CBST), Epicor Medical (acquired by St. Jude Medical, STJ), Inspire Pharmaceuticals (ISPH), IntraLase (ILSE; acquired by Advanced Medical Optics, EYE), LenSx Lasers (acquired by Alcon, ACL), Myogen (MYOG; acquired by Gilead, GILD), NovaCardia (acquired by Merck, MRK), Spinal Dynamics (acquired by Medtronic, MDT), TheraSense (THER; acquired by Abbott Labs, ABT) and Ventritex (VNTX; acquired by St. Jude Medical, STJ).
The firm's past successful investments in information technology include: CIENA (CIEN), Copper Mountain Networks (CMTN), Crystal Semiconductor (acquired by Cirrus Logic, CRUS), CubeTree (acquired by SuccessFactors, SFSF), Cyrix (CYRX; acquired by National Semiconductor, NSM), Edify (EDFY; acquired by Security First Technologies, SONE), Epocrates (EPOC), Kalpana (acquired by Cisco, CSCO), Lightera (acquired by CIENA), Lombardi Software (acquired by IBM), Network Computing Devices (NCDI), Open Silicon (acquired by Unicorn Investment Bank), PlaceWare (acquired by Microsoft, MSFT), Platform Solutions (acquired by IBM), Radius, Rendition (acquired by Micron Technology, MU), Sierra Logic (acquired by Emulex, ELX), SiTera (acquired by Vitesse, VTSS), Silicon Graphics (SGI), Stratacom (STRM; acquired by Cisco, CSCO) and Xilinx (XLNX).
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