Avid Bioservices Names Nicholas Green as President and Chief Executive Officer
June 23 2020 - 08:05AM
Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated
biologics contract development and manufacturing organization
(CDMO) working to improve patient lives by providing high quality
development and manufacturing services to biotechnology and
pharmaceutical companies, today announced that Nicholas Green has
been appointed president and chief executive officer, as well as a
member of the company’s board of directors, effective July 30,
2020. He will succeed Rick Hancock who has served as interim
president and CEO since May 2019. Mr. Hancock will continue to
serve on Avid’s board of directors.
Mr. Green has more than 30 years of experience
in the global pharmaceutical and healthcare services industry with
significant expertise in the contract manufacturing of novel
pharmaceutical products. His global pharmaceutical experience spans
four continents, having run 31 facilities in nine countries
spanning North America, South America, Europe, and Asia. Throughout
his career, Mr. Green has held a number of senior management roles
for several contract manufacturing organizations and life science
companies, where he is credited with successfully building and
expanding those businesses and delivering significant value for
customers, patients, employees, and other stakeholders.
Joseph Carleone, Ph.D., chairman of the Avid
board of directors, said, “On behalf of the Avid board, I’d like to
welcome Nick as our new president and CEO. His appointment is the
result of a deliberate and comprehensive search for an industry
executive capable of leading Avid to achieve its full potential.
Nick’s lengthy and impressive career in the pharmaceutical contract
development and manufacturing sector, which has included senior
leadership roles at several successful companies, positions him
perfectly to oversee Avid’s ongoing efforts aimed at customer base
expansion and revenue growth. The board and I look forward to the
positive impact that Nick will make on the company’s business over
both the near and long-term.”
“I am excited to join the Avid team and
contribute my industry experience to helping the company continue
its impressive growth trajectory,” said Mr. Green. “Today, there is
significant and growing demand for companies at the leading edge of
contract development and manufacturing services for biologics. With
its high-quality offerings in the areas of process development,
analytical services, and CGMP manufacturing, combined with its more
than 25 years of experience in manufacturing complex biologics,
Avid is among the best positioned companies to seize this
opportunity.”
“I thoroughly enjoyed my role as the interim
president and CEO of Avid and am proud of what the company has
achieved during that time in diversifying our client base and
increasing revenues,” said Rick Hancock. “I believe that Avid is
well positioned to execute successfully on its growth strategy
moving forward and the addition of a leader such as Nick will only
serve to strengthen the company’s prospects. The appointment of
someone of Nick’s caliber, combined with the strength and talents
of the entire Avid team, make it easy for me to step aside and
transition back into the sole role of board member at this time. I
would like to express deep gratitude to all Avid team members for
their commitment and hard work during my tenure.”
Mr. Green most recently served as president and
CEO of Therapure Biopharma, a Canada-based biopharmaceutical
company which includes Therapure Biomanufacturing. In this role, he
oversaw the growth of the company’s CDMO business, while also
leading the creation of Therapure’s proprietary plasma protein
business, named Evolve. Prior to Therapure, he held a number of
senior management roles, most notably managing director of Nipa
Laboratories Ltd., head of the life science division of Clariant
International Ltd. in the USA, president and CEO of Rhodia Pharma
Solutions Ltd. and president of Codexis, Inc.’s pharma division.
Mr. Green holds a bachelor’s degree in chemistry from Queen Mary
College in London and an MBA from the University of
Huddersfield.
About Avid Bioservices,
Inc.
Avid Bioservices is a dedicated contract
development and manufacturing organization (CDMO) focused on
development and CGMP manufacturing of biopharmaceutical drug
substances derived from mammalian cell culture. The company
provides a comprehensive range of process development, CGMP
clinical and commercial manufacturing services for the
biotechnology and biopharmaceutical industries. With over 25 years
of experience producing monoclonal antibodies and recombinant
proteins, Avid's services include CGMP clinical and commercial drug
substance manufacturing, bulk packaging, release and stability
testing and regulatory submissions support. For early-stage
programs, the company provides a variety of process development
activities, including upstream and downstream development and
optimization, analytical methods development, testing and
characterization. The scope of our services ranges from
standalone process development projects to full development and
manufacturing programs through commercialization.
www.avidbio.com
Contacts:
Stephanie Diaz (Investors)
Vida Strategic Partners
415-675-7401
sdiaz@vidasp.com
Tim Brons (Media)
Vida Strategic Partners
415-675-7402
tbrons@vidasp.com
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