Accelerator Corporation, a Seattle, WA- and New York City-based based life science investment and management firm, expanded operations with three new institution partners and the appointment of a life science veteran.
CoMotion at the University of Washington, Fred Hutchinson Cancer Research Center and Oregon Health & Science University are the three new institution partners. bringing the total to 19 partnerships nationwide. By partnering with these research institutions, Accelerator gains access to innovative global technologies and potential commercial opportunities. In turn, these institutions lend their broad expertise to Accelerator’s portfolio companies, providing them with integrated technology, research and development capabilities.
As written above, Bruce L.A. Carter, Ph.D., joined the firm’s board of directors bringing experience in the pharmaceutical and biotechnology industries. For the past 30 years, he has been an affiliate professor in the Department of Biochemistry at the University of Washington.
In November 2009, Dr. Carter joined Immune Design Corp., where he served as executive chairman of the board until 2011. Prior to joining Immune Design, Dr Carter was a member of the management team at ZymoGenetics, Inc.. In 1994, he was appointed corporate executive vice president and chief scientific officer for Novo Nordisk.
Founded in 2003 and led by Thong Q. Le, CEO, Accelerator identifies, evaluates, finances and manages the development of emerging biotechnology opportunities. It works by providing backed startups with a set of resources in the form of a complete business, scientific and financial toolkit necessary for running an early-stage biotechnology company. Resources include institution partners, committed investment capital, experienced startup management and scientific expertise, and laboratories and shared facilities.
Since its inception, the firm has raised more than $100 million in capital commitments to invest in innovative life science companies. Earlier this year, it has launched Petra Pharma Corporation with $48m in Series A financing commitments and Lodo Therapeutics with $17m in Series A financing commitments.