VALISURE ANNOUNCES NEW VENTURE PARTNERS AND EXPANSION OF LEADERSHIP TEAM

Valisure Secures Strategic Investment, Announces Appointment of New CEO, & Expansion of Executive Leadership Team to Accelerate its Growth in Enterprise Healthcare

NEW HAVEN, Conn., Feb. 28, 2024 /PRNewswire/ -- Valisure, a healthcare industry pioneer for independent quality assurance in pharmaceutical drugs, has recently received substantial investments from leading healthcare venture capital firms to accelerate Valisure's rapid growth and impact. Concurrently, the company is pleased to announce key leadership developments, including appointing a highly experienced healthcare leader as CEO and additional expansion of its executive team.

The venture funding is led by AlleyCorp, a New York-based venture capital firm that invests in transformative companies across dedicated verticals for Healthcare, Diversified Technology, Robotics, and Social Impact. This strategic investment will provide Valisure with the financial resources needed to accelerate its research and development efforts, expand its team of experts, and further strengthen its position as a market leader in the critically needed, independent pharmaceutical quality assurance space. Valisure has gained global recognition for its commitment to ensuring the safety and quality of medications through its highly impactful, independent testing. Valisure's expanding services are being increasingly adopted by major public and private health systems.

Continuing in its pursuit of expanding within the healthcare industry, Valisure is proud to introduce Chip Phillips as the new Chief Executive Officer–an accomplished healthcare executive with a strong focus in the pharmacy service space. He brings a wealth of experience, having served as President of ANDA, a subsidiary of Teva Pharmaceutical Industries, and was an executive leader at CVS Health. At CVS, he spent time leading the Medicaid business, TheraCom, Inc., and Minute Clinic. This appointment underscores Valisure's strategic commitment to being an integral part of the pharmaceutical ecosystem, contributing to the continued improvement of product safety and quality through the provision of independent quality assurance.

"I am pleased to join Valisure as the Chief Executive Officer at a time in the industry when supply chain concerns, drug shortages, fiscal pressures, and quality issues appear to be at an all-time high," states Chip Phillips, Valisure's newly appointed CEO. "I look forward to collaborating with the talented team and enabling Valisure to expand its work with the industry to strategically address these issues."

With Chip's appointment as CEO, Valisure's Co-Founder David Light assumed the role of President, enabling him to focus on continuing to grow the company's thought leadership and overall mission through its broad network of government, industry, and academic partners.

"As President, I am eager to expand Valisure's existing leadership in the independent pharmaceutical quality assurance space that we've rapidly created in the United States since we founded the company in 2015. I'm also looking forward to nurturing existing partnerships and strengthening strong relationships with leaders throughout healthcare," says David Light, President of Valisure. "These endeavors are aimed at further growing our impact on pharmaceutical quality and safety and overall improving public health."

Likewise, Wolfgang Hinz, Ph.D., has assumed a pivotal leadership position as the Chief Scientific Officer of Valisure. Formerly a technology co-founder at Ion Torrent, Wolfgang led chemistry Research and Development resulting in a globally commercialized DNA sequencing platform acquired by Thermo Fisher Scientific. He boasts an impressive portfolio of over 100 granted patents, reflecting his extensive success in technology development across chemistry, biology, and engineering. Wolfgang conducted his graduate studies at the University of Cape Town and post-graduate studies at Yale University.

Further strengthening the executive team, Valisure welcomes Adam Clark-Joseph, Ph.D., as Chief Analytics Officer, leveraging his expertise as a former finance professor focusing on algorithmic trading. Adam completed a dual bachelor's degree in mathematics and economics at Yale University, a master's degree in economics at Cambridge University as a Gates Scholar, and a Ph.D. in economics at Harvard University.

Additionally, Jill Nailor, R.Ph., a pharmacist by training, has advanced to the position of Chief Business Development Officer at Valisure. Leveraging her extensive industry experience, including time at Walgreens and Pfizer, she is dedicated to building Valisure's client portfolio.

In this transformative chapter marked by new strategic venture partnerships and appointments of visionary leadership, Valisure is poised to broadly integrate its novel approach to independent quality assurance for pharmaceuticals into the healthcare industry at a time when it has never been more needed.

About Valisure:
Valisure is a pioneering technology company at the forefront of addressing a critical gap in the healthcare supply chain through independent quality assurance. Our mission is to revolutionize the broken supply chain by providing a critically missing element: transparency to quality and independent certification through chemical analysis. At a time when transparency and reliability have never been more critical, Valisure addresses a significant unmet need, reshaping the future of the healthcare supply chain. Explore collaboration opportunities with us to advance the quality assurance standard in healthcare at www.valisure.com.

SOURCE Valisure