Executive Impact Group Provides Startup Solutions to VC funded $40M Calithera Biosciences
July 29, 2010 (PRLEAP.COM) Business NewsJuly 29, 2010 – San Francisco, CA – Executive Impact Group (EiG) a San Francisco based advisory firm announces its partnership as "start up" advisors to Calithera Biosciences www.calithera.com.
The company is led by CEO Susan M. Molineaux, Ph.D., a pioneering serial biotech executive who recently led Proteolix growth and its $851 million sale to Onyx Pharmaceuticals in November 2009.
"We are very excited to be collaborating with Dr. Molineaux and her team in providing our "startup" solutions and services. We have been partnering with her and the company's executive team from the beginning and most recently in executing all aspects of startup operations. We look forward to assisting Calithera's leadership in growing the company in the years ahead as it discovers and develops new cancer drugs using a new scientific approach," announced Dr. Hagit Glickman, CEO, EiG.
Calithera is pursuing an innovative strategy in fight against cancer, "the primary mission of Calithera Biosciences is to develop novel therapeutic approaches to the treatment of cancer by using small molecules to activate, rather than inhibit, enzymes."
In commenting on EiG's partnership, Dr. Molineaux stated, "Hagit Glickman and EiG have been a key partner in Calithera's successful startup efforts during the past several months. She has played a vital role in developing and implementing numerous operations and human capital systems that will serve as a foundation for our future growth. We look forward to having her on our team."
Calithera Biosciences recently closed on $40 million in venture funding by lead investor Morgenthaler Ventures along with U.S. Venture Partners, Advanced Technology Ventures, Delphi Ventures and Mission Bay Capital also participating in the round.
About Calithera Biosciences
Calithera Biosciences was founded in 2010, with core technologies licensed from the University of California, San Francisco, to develop novel therapeutic approaches to the treatment of cancer. The company is developing small molecules that directly activate caspases, the proteases responsible for initiating programmed cell death, or apoptosis, in cancer cells. Calithera plans to develop activators of additional enzymes as therapeutic agents for the treatment of cancer and other proliferative diseases. Located in South San Francisco, CA, Calithera Biosciences is privately held with backing from Morgenthaler Ventures, U.S. Venture Partners, Advanced Technology Ventures, Delphi Ventures and Mission Bay Capital. For more information, please visit www.calithera.com.
About Executive Impact Group (EiG)
Executive Impact Group (EiG) based in San Francisco, California provides growth companies, entrepreneurs, venture capital and Fortune 500 companies with startup solutions, executive coaching, management advisory and leadership services. EiG serves the healthcare, biotech, technology and life sciences industries. For more information please visit www.execimpactgroup.com
Michael Ryan, Chairman
Executive Impact Group