RESEARCH TRIANGLE PARK, N.C., Dec. 10, 2013 /PRNewswire/ -- Pappas Ventures, a life science venture capital firm, announced today the appointment of Franz B. Humer as a Venture Partner and Senior Advisor with the firm. Dr. Humer is currently the Chairman of Roche Holding Ltd, a position he will retire from in March 2014.
Dr. Humer brings a wealth of leadership experience from the pharmaceutical and life science industry, including a transformative 15-year tenure as Chairman and/or Chief Executive Officer of Roche. He previously served as Chief Operating Officer and Head of Pharmaceuticals for F. Hoffmann-La Roche Ltd.
"We are honored to have Franz join our team," said Art Pappas, Managing Partner of Pappas Ventures. "Throughout his career, he has consistently focused on the importance of innovation in creating products that can make a real difference to patients. He will be invaluable in helping us pursue this same vision."
In joining Pappas Ventures as a Venture Partner and Senior Advisor, Dr. Humer is reuniting with Art Pappas and Ernie Mario, who all served together in the early 1990s as senior executives and board members for Glaxo Holdings.
"I am thrilled to be able to work again with Art and Ernie and the excellent team they have built over the past 20 years," said Dr. Humer. "Pappas Ventures has a proven track record in investing in companies that create truly innovative products, and I am looking forward to contributing to this strategy."
Dr. Humer began his career in the pharmaceutical industry in 1973, joining Schering Plough Corporation as assistant to the vice president of Europe, Africa, Middle East operations and general manager of Ecuador, UK and Portugal. After leaving Schering Plough, he held various managerial positions at Glaxo Holdings plc, where he was responsible for research, business development, manufacturing, commercial strategy, and all operations outside the United States.
In addition to his role at Roche, Dr. Humer currently serves as Chairman of Diageo plc and as a director of CitiGroup Inc. He also serves as Chairman for INSEAD, for the International Centre for Missing and Exploited Children and for the Friends of Phelophepa Foundation. In 2000, he received the Oliver R. Grace Award for distinguished service in advancing cancer research.
About Pappas Ventures
Founded in 1994, Pappas Ventures invests exclusively in the life sciences sector – biotechnology, biopharmaceuticals, drug delivery, medical devices and related ventures – across the United States and Canada. In the past 18 months, three Pappas Ventures portfolio companies have conducted initial public offerings: TESARO, LipoScience and Chimerix Inc.
Pappas Ventures has more than $350 million in capital under management, and has guided the launch and/or development of 56 companies, including Plexxikon Inc. (acquired by Daiichi Sankyo), Cerexa (acquired by Forest Laboratories), Peninsula Pharmaceuticals (acquired by Johnson & Johnson), Syntonix (acquired by Biogen IDEC), LEAD Therapeutics (acquired by BioMarin Pharmaceutical), NuVasive (IPO) and Arena Pharmaceuticals (IPO). For more information about Pappas Ventures, please visit www.pappasventures.com.
Ford S. Worthy
SOURCE Pappas Ventures