MUSC Foundation for Research Development welcomes Art Pappas to board Pappas to share venture capital expertise in pharmaceutical and life science industries
CHARLESTON, S.C. – The Medical University of South Carolina Foundation for Research Development (FRD) has announced that venture capitalist Art Pappas has joined the organization’s Board of Directors, effective immediately.
Pappas is a managing partner at Pappas Ventures, which is based in Durham, N.C., and invests exclusively in the life sciences sector, specifically biotechnology, specialty pharmaceuticals, drug delivery, diagnostics, medical devices and related ventures. He has more than 30 years of experience in the pharmaceutical and life sciences industries.
“I am honored to join the Board of Directors and look forward to working with FRD and the rest of the board to continue driving health care technologies to market.” Pappas said.
Before forming Pappas Ventures in 1994, he served as the chief executive for international operations at Glaxo Holdings plc, which is now known as GlaxoSmithKline. He also has held executive positions at Abbott Laboratories International Ltd. and Merrell Dow Pharmaceuticals.
FRD is the commercialization arm of the Medical University of South Carolina (MUSC). FRD’s mission is to translate the intellectual property created at MUSC into products and services that benefit the community.
“The FRD board is a critical element to providing valuable insight into the commercialization of MUSC technology,” FRD Executive Director Michael Rusnak said. “Mr. Pappas brings a wealth of health care venture capital experience to the table. That experience, added to the broad knowledge of our other board members, will be an invaluable source of guidance as we continue to bring more MUSC discoveries and innovations to the health care market.”
Under Pappas’ watch, Pappas Ventures manages more than $350 million and has guided the launch and development of more than 55 life sciences companies.
Pappas serves on the boards of directors for Afferent Pharmaceuticals, CardioDx, Chimerix and CoLucid Pharmaceuticals, for which he also serves as board chairman and was the founding CEO. In the past, he has served on the boards of numerous life science companies, among them AtheroGenics, Quintiles Transnational, Embrex, and Glaxo Holdings plc.
He is a member of the Board of Directors of the National Venture Capital Association and the North Carolina Biotechnology Center (where he was the past chair), and he is actively involved with a variety of industry and philanthropic organizations dedicated to furthering medical research.
He is a decorated Vietnam veteran, having served as an officer in the U.S. Army 101st Airborne Division.
About Foundation for Research Development
FRD has served as MUSC’s technology transfer office since 1998. During that period, FRD has filed patent applications on more than 320 technologies, resulting in 99 issued patents. Additionally, FRD has executed 125 licenses and spun out more than 40 startup companies. MUSC startups have had products approved by the FDA, been acquired by publicly traded corporations, and attracted substantial investment dollars into South Carolina. Innovations from MUSC, including medical devices, therapies and software, are positively impacting health care world-wide.