Michael Pellini has just jumped into a senior role at one of the most intriguing new venture funds in the biopharma/healthcare world. The former CEO — and current chairman — at Foundation Medicine $FMI, which just won approval for a new diagnostic tool for solid tumors, has joined Bill Maris as a managing partner at Section 32.
Here’s his message to me:
Really excited to team up with Bill Maris and Jenn Kercher (ex-GV). Broad mandate but I’ll primarily be focused on opportunities at intersection of health care and technology which can have a significant impact on patient care and/or drug development.
Maris had a marquee role running Google’s GV, a celebrated global venture fund which has pursued an aggressive place for itself in the startup biotech world. He closed his own fund last May with $150 million — not the biggest fund in the booming field by any means, but one with oversized influence for a group in its weight class.
You can be sure that most any biopharma would love to have Maris, and now Pellini, offering their support. And Pellini’s involvement now could be added good news for drug developers. When Maris launched his fund he told TechCrunch:
(H)ealthcare and biotech are areas that I care a lot about, but I’m interested in technologies in every field. In fact, biotech and healthcare have gotten to be a bit too trendy of a space lately, and I am leaning back a bit while that trend plays out.
Maybe it’s time to start leaning forward.
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