Epistem Holdings plc, the Manchester-based biotechnology company that focuses on developing therapies for epithelial diseases, has been nominated in two categories at the prestigious British Venture Capitalist Association CEO Awards 2009. EpiStem has been nominated for 'Best VC Backed CEO' and 'Best International Impact' for the North West.
The Chief Executive Officer of EpiStem, Matthew Walls, joined the company in 2006 and has been instrumental in focusing the company, determining priorities, building the team, preparing the company for IPO and, latterly, negotiating the major research agreement with Swiss pharmaceuticals company, Novartis.
The Novartis collaboration covers identification of new drug targets and therapeutics across a variety of disease areas. Under the terms of the agreement, Epistem received an upfront cash payment of $4 million from Novartis, which will also provide research funding for up to four years. In addition, Novartis has an option to exclusively license targets for development of biotech drugs, with Epistem eligible for up to $45 million in milestone payments for each product developed, plus tiered royalties on any future worldwide sales.
Private equity and venture capital backed CEOs are responsible for some of the fastest-growing and most innovative companies in the UK. The BVCA CEO Awards 2009 is the first awards event to exclusively celebrate the successes and achievements of CEOs of private equity and venture capital backed companies.
