Dale Pfost has joined Advent Venture Partners as a venture partner. Dr Pfost has more than 25 years of experience as a life science entrepreneur and CEO, with expertise in high technology research tools, genomics, diagnostics and therapeutics.
He will be based in the US and will assist General Partners Shahzad Malik and Raj Parekh in managing investments for the new USD120 million (GBP75 million) Advent Life Sciences venture capital fund, which closed in November 2010.
“Dale is an outstanding addition to our team," says Parekh. " His track record of building, growing and securing successful exits for his life sciences companies encompasses almost three decades. He has first-hand knowledge of what it takes to start, grow and achieve liquidity for companies in a variety of sectors, including therapeutics, diagnostics, research tools and specialty products in both Europe and the US. We believe that Dale’s experience, strategic acumen and practical knowledge will be of great benefit to Advent and our portfolio companies.”
Dale Pfost’s first company, Infinitek, was acquired by SmithKline Beckman. He was then founding CEO and Chairman of Orchid BioSciences, a pioneer in genetic analysis and personalized medicine, before serving as founding CEO and Chairman of Acuity Pharmaceuticals, an innovative ophthalmology company that was acquired by OPKO Health.
Earlier in his career, he was co-founder and CEO of Advent-backed Oxford GlycoSciences and also served as CEO of Receptor BioLogix, a cancer drug developer acquired in 2008. Most recently, Pfost , who holds a BS degree from the University of California and a PhD in physics from Brown University, has helped establish a new medical food enterprise.
“I am delighted to join Advent at a time when the firm is expanding its activities in the life sciences sector," says Pfost. "I have collaborated with Raj Parekh for over 20 years, and I have a high regard for what he and Shahzad Malik have accomplished at Advent. Converging advances in science and technology make this an especially promising time for new life sciences enterprises. I look forward to working with the team to expand the Advent portfolio.”
