VANCOUVER and TORONTO, Canada (September 9, 2016) — Zucara Therapeutics Inc., a pre-clinical life sciences company advancing a novel long-term therapeutic approach to prevent hypoglycemia in patients with diabetes, has appointed Michael Midmer as its Chief Executive Officer.
Midmer has over 15 years of experience in the life sciences, fund management and corporate finance. He was formerly the Director of the Genomic Applications Partnership Program (GAPP) at Genome Canada, working with companies such as Xagenic, Vasomune, Assurex and Roche to facilitate and fund partnerships with academia. Before joining Genome Canada, Midmer was a Director at Rosetta Capital, an international venture capital firm, where he managed a portfolio of over 30 companies in North America and Europe and company exits such as Enobia, Cytochroma, Ambit and Resonant.
Zucara Therapeutics, a spin-off created by MaRS Innovation and The Centre for Drug Research and Development (CDRD), is built upon decades of diabetes research by Dr. Mladen Vranic (University of Toronto), Dr. David Coy (Tulane University) and Dr. Michael Riddell (York University). The company is advancing a novel drug therapy that aims to help prevent hypoglycemia in patients with diabetes by creating the first treatment to restore the body’s ability to counter-regulate hypoglycemia and prevent low blood sugar levels. Immediate patient benefits would include reduced hypoglycemia occurrences and their associated symptoms.
“Patients living with diabetes worldwide currently have no preventative therapy for hypoglycemia,” said Midmer. “It’s an exciting opportunity to be able to lead Zucara’s team, and move this drug closer to the clinic and patients — and to one day eliminate the ongoing fear of hypoglycemia.”
“Michael has an impressive track record in partnering and commercializing promising technologies,” said Gordon C. McCauley, CDRD’s Interim President and CEO. “We’re pleased to welcome him as Zucara’s CEO, and are highly confident he can advance this novel technology to commercial success.”
“MaRS Innovation supported Zucara Thereapeutics’ early-stage drug development because we believe it represents the next successful diabetes drug,” said Dr. Raphael (Rafi) Hofstein, President and CEO of MaRS Innovation. “If we’re to build on Banting and Best’s research in Toronto, the birthplace of insulin, we need a strong leadership team. With his background in venture capital and the life sciences, Michael is ideally suited to move Zucara forward and create another clinical development success story in Canada.”
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Last updated on: 13/09/2016
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