CLEVELAND, June 27, 2012 /PRNewswire/ -- BioMotiv, LLC today announced the launch of operations with headquarters in Cleveland, Ohio. The company has designed a next generation business model that facilitates efficient execution of earlier-stage drug development programs with the objective of out-licensing these significantly enhanced assets to biopharmaceutical companies or venture firms for later-stage development and commercialization. The company intends to raise $100 million in total initial capital as it builds a portfolio of breakthrough discoveries in-licensed from academic medical centers and other sources. BioMotiv is part of The Harrington Project for Discovery and Development, a first-of-its-kind $250 million initiative announced by University Hospitals (UH) in February.
In conjunction with the launch, BioMotiv announced the following members of the Board of Managers:
Mr. Keith brings more than 25 years of global pharmaceutical and life science start-up experience to BioMotiv. He has served in chief executive officer, board and other senior management roles for multiple companies including Dura Pharmaceuticals and Verus Pharmaceuticals in San Diego. He has a proven track record in raising significant capital, building innovative business models, and completing sophisticated busines
|SOURCE BioMotiv, LLC|
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