Welcome!

News Feed Item

Elliott Sigal Joins NEA As Venture Partner And Senior Advisor

Pharma Industry Veteran Brings Full-Spectrum Healthcare Expertise to One of Venture Industry's Most Active Life Sciences Investors

CHEVY CHASE, Md. and MENLO PARK, Calif., Jan. 9, 2014 /PRNewswire/ -- New Enterprise Associates, Inc. (NEA), a leading global venture capital firm, today announced the appointment of Elliott Sigal, M.D., Ph.D. as Venture Partner and Senior Advisor. Dr. Sigal is a former Executive Vice President and Director for Bristol-Myers Squibb. He served as the company's Chief Scientific Officer and President of R&D from 2004-2013. He brings to NEA more than 25 years of experience spanning drug discovery, drug development, corporate strategy and general management.

"Dr. Sigal is among the most accomplished, respected and forward-thinking executives in the pharmaceutical industry, and we are thrilled to have him join the NEA team," said David Mott, NEA General Partner and head of the firm's Healthcare practice. "Dr. Sigal will be an invaluable resource to our partnership and to the companies in our current portfolio. He brings extraordinary insights in key areas such as the use of genetic information to develop precision therapeutics, state of the art clinical and regulatory strategy, and extensive relationships across pharma, biotech and academia. His therapeutic expertise also spans everything from oncology and infectious disease through metabolic and cardiovascular disease. Elliott brings an exceptional wealth of knowledge to our healthcare practice."

Among Dr. Sigal's accomplishments in various therapeutic areas was building Bristol-Myers Squibb research into a lead position in the promising area of immuno-oncology. He has frequently been lauded for building one of the most productive and innovative organizations in the industry, with 14 products brought to market under his leadership and an average cost of new drug approval significantly lower than other large pharmaceutical companies.1 As noted in The Wall Street Journal2, he "comes out well ahead in every metric, despite his R&D spend being a little over half that of his biggest rivals."

A principal architect of Bristol-Myers Squibb's successful biopharma transformation strategy, Dr. Sigal was instrumental in increasing R&D productivity, developing the company's strategy in biologics, and acquiring external innovation (best known as the String of Pearls initiative). As a result, he became well acquainted with the life sciences startup and venture capital ecosystem and sought to deepen his engagement with that entrepreneurial community upon retiring.

"There is tremendous entrepreneurial energy and innovation in the life sciences sector today, and NEA is right in the thick of it, as one of the industry's largest and most diversified healthcare investors," said Dr. Sigal. "The firm's scale and success over nearly four decades translate to a premier portfolio—companies with the potential to deliver new medicines, improve patient outcomes, and transform healthcare as we know it. I'm excited to help fuel a new generation of medicines and treatments across a broad range of therapeutic areas and patient populations."

In addition to his role at NEA, Dr. Sigal serves on the boards of directors of the Mead Johnson Nutrition Company and the Melanoma Research Alliance and is a consultant to various biotechnology companies. During his 16 years at Bristol Myers-Squibb, he held leadership positions in both Research and in Development. Previously, Dr. Sigal served as Vice President, Research and Development and later CEO of genomics firm Mercator Genetics, and prior to that held several positions of increasing responsibility at pharmaceutical company Syntex.

Dr. Sigal received his M.D. from the University of Chicago in 1981 and trained in Internal Medicine and Pulmonary Medicine at the University of California, San Francisco (UCSF). He received his research training at the Cardiovascular Research Institute at UCSF and served on the faculty of the UCSF Department of Medicine from 1988-1992. Prior to medical school, Dr. Sigal studied industrial engineering at Purdue University, where he received a B.S., M.S. and Ph.D.

About NEA
New Enterprise Associates, Inc. (NEA) is a leading venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With approximately $13 billion in committed capital, NEA invests in information technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 175 portfolio company IPOs and more than 300 acquisitions. In the U.S., NEA has offices in Menlo Park, CA; New York, NY; Chicago, IL; Boston, MA; and the Washington, D.C. metropolitan area. In addition, New Enterprise Associates (India) Pvt. Ltd. has offices in Bangalore and Mumbai, India and New Enterprise Associates (Beijing), Ltd. has offices in Beijing and Shanghai, China. For additional information, visit www.nea.com.

1 Source: "ANALYSIS: Measuring R&D success and myth," Christopher Bowe, Informa-Scrip Group (Dec. 19, 2012)

2 Source: "Drumroll: The Best R&D Chief In The Pharma World," Tom Gara, The Wall Street Journal (Dec. 18, 2012)

SOURCE New Enterprise Associates, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2017 New York. The 20th Cloud Expo and 7th @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Internet to enable us all to im...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...