SAN FRANCISCO, March 4, 2016 /PRNewswire-USNewswire/ -- QB3, the University of California (UC) research institute and life science accelerator, announced that Douglas Crawford, PhD, has resigned his position as QB3's associate director at UC San Francisco as of March 1, 2016.
Among his many achievements, Crawford co-founded two key components of the QB3 ecosystem: its venture fund Mission Bay Capital (MBC), in 2009, and its San Francisco incubator QB3@953, in 2013, in partnership with QB3's director, Regis Kelly, PhD, OBE.
Going forward, Crawford will manage both MBC and QB3@953. The details of the relationship between QB3 and the two companies remain to be worked out, but all parties are making the transition as seamless as possible. QB3 will continue to be a source of tenant candidates for QB3@953 and investment possibilities to MBC, and Kelly will retain oversight positions at both entities.
"QB3 is immensely proud of its part in creating QB3@953 and MBC and remains deeply committed to their ongoing success," said Kelly. "But they have now grown large and complex enough that they require full-time management. QB3 looks forward to continuing to work with the two companies since we share a common goal."
QB3 is a cooperative effort among private industry and more than 250 scientists at UC San Francisco, UC Berkeley and UC Santa Cruz. One of four institutes created in 2000 by former California governor Gray Davis, QB3 has joint missions of supporting science, driving the California economy and transforming research into public good. QB3 commercializes UC research by supporting entrepreneurs and creating mutually beneficial partnerships with industry. The effort has led to the launching of hundreds of biotech startups and significant job creation in the San Francisco Bay Area. QB3 is also affiliated with Mission Bay Capital, a seed-stage venture capital firm with $36 million under management. Visit qb3.org.
CONTACT: Kaspar Mossman, 415-514-9790