SOURCE: CMEA Capital

CMEA Capital

June 23, 2011 08:00 ET

CMEA Capital Launches New Model for Biotech Drug Development

Experienced Drug Development and Biotech Executives Form Management Team

SAN FRANCISCO, CA--(Marketwire - Jun 23, 2011) - CMEA Capital today announced the launch of Velocity Pharmaceutical Development (VPD), a new platform company pioneering an efficient way to improve results from the development of novel pharmaceutical candidates. VPD will pioneer a highly virtual drug development model by acquiring drug candidates at an early stage, developing them through proof of safety and efficacy in humans, and selling them to pharmaceutical companies. VPD is led by a seasoned team of clinical drug developers with expertise identifying attractive drug candidates, target markets, and designing and managing outsourced clinical trials. VPD's structure and process remove the costly overhead and misaligned incentives present in traditional biotech companies.

"Even though there have been many high value acquisitions of venture-backed biotech companies by pharmaceutical companies, clinical drug development is inherently risky and only a fraction of projects succeed," said David Collier MD, CEO of Velocity Pharmaceutical Development and managing director at CMEA Capital. "With the new model embodied by VPD our goal is to beat historic trends in both time and cost efficiency."

VPD's model is to build a single expert team and, in a highly virtual way, let it manage a large number of drug development programs simultaneously. VPD will operate with a fail-fast principle, identifying drugs with the greatest promise and eliminating those that don't work out early in the process. VPD believes this new model will produce attractive new drugs to treat patients with significant unmet clinical needs.

The Velocity Pharmaceutical Development team consists of experts in pharmaceutical and biotech, with extensive experience in the drug development approval process.

  • David Collier, M.D., CEO
  • Karl Handelsman, managing director
  • James Larrick, M.D., Ph.D., managing director and chief medical officer
  • Andrew Perlman, M.D., Ph.D. managing director and chief medical officer
  • Edward Schnipper, M.D., managing director and chief medical officer

VPD has evaluated more than 100 drug programs over the past few months and expects to acquire its first drug candidate later this summer.

"VPD is a great example of how CMEA Capital is reinventing the business of drug development," said Jim Watson, managing general partner, CMEA Capital. "We are using a market-driven approach that applies the same rigor to venture capital as investors have applied to entrepreneurs for many years."

For more information, visit www.vpd.net.

About CMEA Capital
CMEA Capital provides capital to entrepreneurs and investors in the life sciences, energy & materials, and information technology sectors. Through its combination of solid scientific credentials and seasoned management expertise, CMEA identifies, funds and manages new businesses based on the emerging, interdisciplinary science required to meet the challenges and opportunities of a rapidly changing global economy. The firm currently manages seven funds representing investments in excess of $1 billion. CMEA has been an early stage investor in many leading companies, including Flextronics, Symmx, Codexis, Maxygen, A123 Systems, Entropic, Silicon Spice, Pixazza, Blekko, and Jobvite.

Contact Information

  • Media Contact:
    Katherine Madariaga
    Atomic PR for CMEA Capital
    Email Contact
    415-593-1400