Key Takeaways
- • SR One, a trans-Atlantic biotech venture capital firm, added Chris Chai and Peter Van Vlasselaer, Ph.D. as Venture Partners to strengthen its operational and financing expertise.
- • Chris Chai previously served as CFO of Principia Biopharma for seven years, through its acquisition by Sanofi for $3.7 billion in September 2020.
- • Peter Van Vlasselaer, Ph.D. brings over 25 years of biotech experience, including leading ARMO Biosciences through its 2018 acquisition by Eli Lilly for $1.6 billion.
- • The hires follow SR One's 2020 spinout from GSK, with the firm describing itself as newly independent and focused on emerging life sciences companies.
Summary
SR One, a trans-Atlantic venture capital firm investing in life sciences companies, announced that Chris Chai and Peter Van Vlasselaer, Ph.D. have joined the firm as Venture Partners, according to a Business Wire release dated February 11, 2021. Both appointees have track records in forming and developing early-stage biotechnology companies, with an emphasis on drug development, fundraising, and operations.
SR One CEO Simeon J. George, M.D., said the pair bring "an extraordinary depth of financial and drug-hunting expertise" to the team as the firm builds on its newly independent fund and portfolio of emerging life sciences companies. Dr. George noted that both have long-standing relationships with the firm through senior management roles at successful SR One portfolio companies.
Chai comes from Principia Biopharma, where he served as Chief Financial Officer for seven years, guiding the company from early-stage private venture backing to the public markets and ultimately to its acquisition by Sanofi for $3.7 billion in September 2020. SR One was an early Series A investor in Principia and remained on the Board through the acquisition. Chai will focus on financing strategies for portfolio companies moving from late-stage private status toward public capital markets. His background includes more than 20 years in biotech executive management and investment banking, including CFO roles at Principia, MAP Pharmaceuticals and CV Therapeutics, and time at J.P. Morgan.
Van Vlasselaer brings more than 25 years of biotech industry experience, including CEO and Executive Chairman roles at SR One portfolio companies True North Therapeutics, which he co-founded and which was acquired by Bioverativ (now part of Sanofi) in 2017, and iPierian, acquired by Bristol Myers Squibb in 2014. Most recently he was Founder, President and CEO of ARMO Biosciences, which Eli Lilly acquired for $1.6 billion in 2018 shortly after its IPO. He will work with SR One to launch new companies and review investment opportunities. He currently serves on the boards of Amphivena, where he is Executive Chair, Asceneuron, an SR One portfolio company where he is Chair, and RGENIX.
SR One Capital Management was spun out of GSK in 2020, having been founded there in 1985, and maintains offices in San Francisco, Philadelphia and London.
SR One CEO Simeon J. George, M.D., said the pair bring "an extraordinary depth of financial and drug-hunting expertise" to the team as the firm builds on its newly independent fund and portfolio of emerging life sciences companies. Dr. George noted that both have long-standing relationships with the firm through senior management roles at successful SR One portfolio companies.
Chai comes from Principia Biopharma, where he served as Chief Financial Officer for seven years, guiding the company from early-stage private venture backing to the public markets and ultimately to its acquisition by Sanofi for $3.7 billion in September 2020. SR One was an early Series A investor in Principia and remained on the Board through the acquisition. Chai will focus on financing strategies for portfolio companies moving from late-stage private status toward public capital markets. His background includes more than 20 years in biotech executive management and investment banking, including CFO roles at Principia, MAP Pharmaceuticals and CV Therapeutics, and time at J.P. Morgan.
Van Vlasselaer brings more than 25 years of biotech industry experience, including CEO and Executive Chairman roles at SR One portfolio companies True North Therapeutics, which he co-founded and which was acquired by Bioverativ (now part of Sanofi) in 2017, and iPierian, acquired by Bristol Myers Squibb in 2014. Most recently he was Founder, President and CEO of ARMO Biosciences, which Eli Lilly acquired for $1.6 billion in 2018 shortly after its IPO. He will work with SR One to launch new companies and review investment opportunities. He currently serves on the boards of Amphivena, where he is Executive Chair, Asceneuron, an SR One portfolio company where he is Chair, and RGENIX.
SR One Capital Management was spun out of GSK in 2020, having been founded there in 1985, and maintains offices in San Francisco, Philadelphia and London.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.