Isaac Ciechanover has left US-based biotech company Celgene Corporation after running its in-house venture capital division in order to join top tier independent VC Kleiner Perkins Caufield & Byers.
Silicon Valley-based Kleiner Perkins Caufield & Byers effectively helped found the biotech industry by forming Genentech, which has since been in the process of full acquisition by pharmaceutical giant Roche, and Ciechanover will be a partner in its life sciences team. He will provide counsel and guidance to the firm’s network of life science entrepreneurs, Kleiner Perkins said in a statement.
Ciechanover was previously the executive director of business development at Celgene, where he spearheaded the company’s venture capital efforts that led to investments in Cylene Pharmaceuticals, which raised $44m in 2007 as a C round; $20m in PTC Therapeutics the same year in return for an exclusive R&D pact; $41.2m in GlobeImmune in September 2007 and which later saw a potential $500m licensing deal struck in 2009; and Burrill Life Sciences Capital Fund.
He led global teams for in-licensing, and merger and acquisition transactions with Array BioPharma, Agios Pharmaceuticals and Merck KGaA. He was also the global project leader for Celgene’s first clinical stage biologic therapy and initiated Celgene’s clinical and commercial alliance management activities.
Before Celgene, Ciechanover managed business development and planning for Amylin Pharmaceuticals. Prior to Amylin, he was in the life sciences venture capital team at Pequot Ventures, and earlier analyzed acquisition candidates at drugs company Pfizer.
Beth Seidenberg, a partner at Kleiner Perkins, which has backed more than 100 healthcare companies since 1972, said: "His experience in business development at Celgene, one of the most successful biotech companies, in addition to his medical knowledge and business training, will be a great complement to our existing team."