SEATTLE, Jan. 29, 2014 /PRNewswire/ -- Accelerator Corporation, a leading life science investment vehicle for disciplined and efficient investment in emerging biotechnology opportunities, today announced the appointment of Thong Q. Le, a veteran of the Seattle life science venture capital community and current chairman of the Washington Biotechnology & Biomedical Association, as its new chief executive officer (CEO). Mr. Le replaces Carl Weissman, the company's founding CEO, who has transitioned to a senior advisor role.
"Thong brings an impressive track record of success as a venture capital investor in identifying and investing in promising, early-stage opportunities," said Dr. Steve Gillis, managing director of ARCH Venture Partners and board member of Accelerator Corporation. "His firm understanding of science, coupled with his strong leadership skills and sound investment judgment, will add energy and momentum to the exciting growth and expansion initiatives currently underway at Accelerator. We are excited to have Thong lead the Accelerator team."
Prior to joining Accelerator, Mr. Le served as a managing director at WRF Capital, the venture capital investment arm of Washington Research Foundation in Seattle. During his 13-year tenure at WRF Capital, Mr. Le played a significant role in the early sourcing, financing, and development of numerous start-up companies. He has worked closely with the management teams and boards of Corus Pharma (acquired by Gilead Sciences), Halosource, Hyperion Therapeutics, Lumera, Performant (acquired by Mercury Interactive), Pathway Medical Technologies (acquired by MEDRAD, Inc. affiliate of Bayer HealthCare), and VLST (asset acquisition by major international pharmaceutical company). Most recently, he served as a director of Accelerator, Acylin Therapeutics, ARZEDA, Groove Biopharma, Oncofactor, and Qazzow, and Board Observer at Alder Biopharmaceuticals, Cardeas Pharma, Resolve Therapeutics, and Uptake Medical, all companies where he was actively involved in establishing as a founding or early investor. Prior to WRF Capital, Mr. Le was the founder, president and chief executive officer of MiniMeals, Inc. and a consultant for Capital Management Consulting, Inc. Mr. Le completed post-graduate studies at the Templeton College of Oxford University and earned a bachelor of arts in government from Harvard University. He currently serves on the executive boards of the Evergreen Venture Capital Association (EVCA) and the Washington Global Health Fund, and is the chairman of the Washington Biotechnology & Biomedical Association.
"Thong is a natural fit to our organization, and the Accelerator team and I are thrilled to have someone with his reputation and experience leading our team," commented Carl Weissman, departing CEO of Accelerator Corporation. "His knowledge and experience has already begun to add tremendous value to our organization and portfolio."
"I am delighted to build upon the track record and success of Accelerator, and I firmly believe that Accelerator has pioneered a capital-efficient model to identify, invest in, and further develop promising, early-stage life science technologies," commented Mr. Le. "I am honored and excited to contribute to the Accelerator team – it is a group of thoughtful investors and highly-capable life science executives."
About Accelerator Corporation
Accelerator Corporation, established in 2003 in Seattle, is a biotechnology investment and management company. Formed by a syndicate of top-tier venture capital investors and a world-class research institution, Accelerator identifies, evaluates, finances, and manages the development of emerging biotechnology opportunities. Accelerator has built a unique solution that addresses many of the key problems associated with investing in early-stage biotechnology by providing access to venture capital, management, scientific expertise, and facilities. Over the past 10 years, Accelerator has raised more than $40M in committed capital and has formed and invested in twelve companies. For more information, please go to: www.acceleratorcorp.com.
Tony Russo, Ph.D.
Russo Partners, LLC
Russo Partners LLC
SOURCE Accelerator Corporation