February 21, 2006 – Vancouver, BC - Ventures West, one of Canada’s largest private venture capital companies, is pleased to announce that Dr. Mohammad Azab has joined the firm as Entrepreneur in Residence. Dr. Azab, former Executive Vice President of Research and Development and Chief Medical Officer of QLT Inc., will be involved in identifying and evaluating investment opportunities in the biotech sector.
“Ventures West continues to be one of the most active biotech investors in Canada,” said Ted Anderson, President of Ventures West. “With his experience and clinical expertise, Mohammad will further strengthen our life sciences practice as well as provide our existing portfolio companies with a tremendous resource.”
Dr. Azab brings more than 20 years of experience in clinical and regulatory development in the pharmaceutical industry. He held leadership positions of oncology drug development for Sanofi Pharmaceuticals’ (now Sanofi Aventis) and Zeneca Pharmaceuticals (now Astra Zeneca) before joining QLT where he is credited with building drug development functions as a core competency for the company that delivered several successful NDA submissions and approvals. During his career, he managed drug development programs that led to the approval and marketing of seven different new chemical entities in the therapeutic areas of oncology, urology, gastroenterology, and ophthalmology.
"Joining Ventures West will allow me to gain exposure to and help identify promising biotechnology opportunities," said Dr. Azab. ""I am looking forward to being involved with developing tomorrow's important drugs and technologies."
Dr. Azab received his medical degree from Cairo University in 1979. He practiced as a medical oncologist and received post-graduate training and degrees from the University of Paris-Sud and the University of Pierre and Marie Curie in France. He has authored more than 100 medical papers and abstracts and is an active member of the American Society of Clinical Oncology, and the American Association of Cancer Research. Dr. Azab holds an MBA degree with distinction from the Richard Ivey School of Business, University of Western Ontario. Dr. Azab is also a director on the board of Vancouver-based biotechnology companies Xenon Pharmaceuticals and Chemokine Therapeutics.
The Ventures West EIR program is one of the largest in Canada. It provides experienced entrepreneurs who have outstanding track records as executives or technologists with the opportunity to join Ventures West as an interim step to their next venture. The EIR program provides these individuals with the network, resources and tools to identify emerging market and business opportunities. Entrepreneurs in the program become part of the Ventures West team and gain access to its operations and deal flow; they also provide specialized management counsel to Ventures West portfolio companies.
Recent investments in the Biotechnology sector include Alder Biopharmaceuticals, Celator Pharmaceuticals, OncoGenex Technologies, NeurAxon Inc. and Resonant Medical.
About Ventures West
Ventures West Management Inc., a private venture capital investment group, is one of Canada’s leading investors in early stage technology companies. Since its founding in 1968, Ventures West has formed eight venture capital funds which total over $700 million and has invested in more than 130 companies. Ventures West has the people, the expertise, and the capital to help entrepreneurs develop emerging technology companies into market leaders. For more information, visit www.ventureswest.com.
For More Information
Christine Ramsay
Ventures West Management Inc.
cramsay@ventureswest.com
(416) 861-2280
