|By PR Newswire||
|January 7, 2014 06:00 AM EST||
SOUTH SAN FRANCISCO, Calif., Jan. 7, 2014 /PRNewswire/ -- Velocity Pharmaceutical Development (VPD) today announced a key addition to the Company's management team with the appointment of Stuart Sedlack as Senior Vice President, Business Development. The appointment rounds out VPD's executive leadership and will help drive the Company's corporate strategy. Mr. Sedlack will report to David Collier, MD, VPD's Chief Executive Officer and Managing Director of CMEA Capital.
"I am delighted to welcome Stuart to the Velocity team," stated Dr. Collier. "Stuart's deep experience in partnering, corporate strategy, finance and pharmaceutical development make him an ideal addition to Velocity. I greatly look forward to working with him." At VPD, Mr. Sedlack will have primary responsibility for identifying and transacting business opportunities that help build Velocity's business while also partnering and monetizing compounds that have achieved clinical proof of concept.
Mr. Sedlack joins VPD with a significant record of achievement sourcing, negotiating and managing partnerships in the life science industry. Most recently, Stuart was Senior Vice President, Corporate Development at Amarin Pharmaceuticals and a part of the executive management team that refocused the company from central nervous system (CNS) to cardiovascular therapeutics and developed and launched the company's lead product in early 2013. In addition to CNS and cardiovascular partnering activities, he was responsible for strategic and operational initiatives including building and managing a network of contract manufacturing relationships.
After five years in international banking, In 1993 Mr. Sedlack entered the pharmaceutical industry as Director, Technology Licensing at the University of Maryland Medical System's licensing office. Then, in 1997, Stuart joined Elan Corp, PLC where for six years he was a key member of Elan's corporate investment and licensing group based in New York. As Vice President, Corporate Development, Stuart sourced and negotiated a large number of transactions and co-managed a large biotech and specialty pharma investment fund. After Elan, for several years Stuart was Global Head, Negotiations for Novartis' Infectious Disease business unit in Basel, Switzerland. Stuart negotiated a number of transactions to help Novartis establish their presence in this field. Returning to the US in 2006, Stuart joined Alba Therapeutics as Senior Vice President, Corporate Development and, after a relatively short period and following the out-licensing of the company's lead asset, joined Amarin in 2007.
About Velocity Pharmaceutical Development, LLC
Velocity Pharmaceutical Development (VPD) is a pharmaceutical development organization dedicated to rapidly advancing promising drug candidates to clinical proof of concept using a highly virtual management model. VPD seeks to acquire promising drug candidates, generally within a year of their entering human clinical trials or after initial human clinical data have been generated. VPD then manages a highly virtual development program for each drug candidate intended to generate convincing human proof of concept data. Following successful human proof of concept, VPD then seeks a large pharmaceutical company acquirer for each program. VPD is staffed by a seasoned team of clinical drug developers with expertise in identifying attractive drug candidates, target markets, and designing and managing outsourced clinical trials. This expert team manages multiple single asset companies to remove the costly overhead and misaligned incentives present in traditional biotechnology company structures. VPD operates on a rapid decision principle, which identifies drug candidates with the greatest promise and repurposes capital from those that don't work out early in the process. VPD believes this new capital-efficient model will yield attractive new drugs to treat patients with significant unmet clinical needs. The company is located in South San Francisco, California. More information is available at www.vpd.net.
SOURCE Velocity Pharmaceutical Development
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