Cancer biotech MISSION Therapeutics has named Paul Wallace as chief business officer.
Wallace has worked in business development roles within drug discovery companies for almost 20 years, most recently at Medivir where he was executive VP and head of business development as well as member of the executive management team responsible for strategic and operational leadership, R&D portfolio management and investment planning.
Commenting on his appointment, Wallace said: “I am delighted to be joining the MISSION team at a time when the commercialisation of certain assets is an increasingly promising prospect.
“The diversity of assets created is testimony to the rigour of MISSION’s screening platform in this critically important, but hitherto difficult, area of drug discovery.”
During his time at Medivir, he played a key role in the execution of over 25 partnership deals, eight products were taken into clinical development and two drugs were launched.
In his new role, Wallace will construct future business strategy, including the potential of development partnerships.
Anker Lundemose, MISSION CEO, added: “Paul’s extensive business development experience will be invaluable in helping us find the right strategic partnerships to fully realise the potential of these assets.
“Our core focus is cancer, but our platform discovery approach has yielded highly promising molecules for other indications, such as Parkinson’s disease. We see partnering as an attractive option for taking these non-core projects forward.”