News & Events

Illinois Biotechnology Industry Organization -iBIO- Elects New Chairman, Taps Three New Directors; Industry Veteran Bill Gantz of Ovation Pharmaceuticals to Lead iBIO in 2004

Highlighting its commitment to maintain a strong and diverse leadership team, the Illinois Biotechnology Industry Organization (iBIO) has elected Ovation Pharma CEO Bill Gantz as its Chairman for 2004. In addition, Michael Flavin, of Advanced Life Sciences and Flavin Ventures, Mich Hein of Chromatin, Inc., and Donna Williamson of Ceres Venture Fund were elected as new Directors.

The newly-elected Chairman and Directors are uniquely positioned to help iBIO continue to build on its contributions to the Illinois biotechnology industry because of their diverse backgrounds and strong existing relationships with key biotech leaders. As pharmaceutical industry veterans, both Gantz and Flavin will be integral in helping iBIO attract more pharma company members. Hein will bring expertise on the needs of early and late stage Midwest biotechnology and bio-agricultural companies, while Williamson will provide strategic insight to the iBIO membership on venture capital and debt financing availability.

"We are very excited to have Bill leading the charge for iBIO during 2004, along with Mich, Michael and Donna as key supporters of those efforts," said David Miller, president of iBIO. "Each is well aware of where the Midwest biotechnology community is at the present time and what direction it needs to go during the upcoming year. In addition to helping add enhanced value for our existing member companies, we are confident that each new board member will also help iBIO to increase legislative and regulatory support for the Illinois biotechnology industry."

Since 2002, Gantz has served as Chairman and CEO of Ovation Pharmaceuticals, a company that partners with pharmaceutical and biotechnology companies to rediscover the potential of under-promoted brands and late-stage development products. As a result of Gantz's strong industry reputation, he helped Ovation Pharmaceuticals secure funding from GTCR Golder Rauner, LLC, a well-known private equity firm based in Chicago. Previously, Gantz was a Founder, Chairman and CEO of PathoGenesis Corporation, a publicly traded biopharmaceutical company that was sold to Chiron Corporation in Sept. 2000, and prior to that he served as President of Baxter International.

"I feel incredibly fortunate to be a part of an organization that I so deeply respect," said Gantz. "It is an exciting time to be involved in the Midwest's biotechnology community, and iBIO has undoubtedly been a major catalyst for our recent accomplishments and growth. We're expecting even bigger things in 2004."

Both Gantz and Miller praised the work of outgoing iBIO Chairman James L. Tyree, Corporate Vice President of Global Licensing and New Business Development at Abbott Laboratories. Said Gantz, "Jim Tyree did an excellent job of working with iBIO's president and Board of Directors to bring iBIO into the 'big leagues'. I am thrilled that he will continue with us as a member of iBIO's Executive Committee."

About iBIO's New Board Members

Dr. Michael Flavin is CEO and Chairman of Advanced Life Sciences, and a managing partner of Flavin Ventures, an early-stage venture capital fund for life sciences companies. Prior to that, Flavin was founder, CEO and Chairman of MediChem Life Sciences (NASDAQ:MCLS), which he led from startup in 1987 to its October 2000 IPO. MediChem was acquired in 2002 by deCODE genetics (NASDAQ:DCGN) for $83 million in stock.

Mich Hein is President and Chief Executive Officer of Chromatin, Inc., a development stage biotechnology company focused on capturing value in the $5B U.S. agricultural biotechnology market and expanding the commercial potential of crop plants into the larger pharmaceutical, specialty chemical and nutrition sectors. Prior to that, Hein was founder and President of Epicyte Pharmaceutical, Inc., in San Diego.

Donna C. E. Williamson is a co-founder of Ceres Venture Fund and has extensive experience in the healthcare industry with particular expertise in strategy and new business development. Most recently, she served as a Managing Director for ABN Amro's private equity group, which was responsible for investments in healthcare growth companies.

About iBIO

iBIO, the Illinois affiliate of the Washington D.C. based Biotechnology Industry Organization, is a regional community of leaders from the public, private, and academic sectors. iBIO's mission is to establish standing for the Midwest as one of the word's great life science centers, thereby improving the health and well-being of people worldwide.