Pharmaceutical giants appoint CEO to collaboration fund
Apollo Therapeutics, the £40m fund constituting a collaboration between pharmaceutical giants AstraZeneca, GlaxoSmithKline and Johnson & Johnson to commercialise research from Imperial College London, University College London and the University of Cambridge has appointed Richard Butt as CEO.
Effective 23 May, the appointment will see Butt join from Pfizer Inc., where he most recently was senior director and research project leader, Clinical Research at Pfizer Neausentis in the company’s Neuroscience and Pain Research Unit.
At the fund he will be responsible for overseeing the funding of early-stage theraputics projects from the three universities. The fund marks the first time the three pharmaceutical firms have worked jointly in this way to support the development of new therapies.
Ian Tomlinson, chairman of the Apollo Therapeutics Investment Committee said: “Richard brings 20 years of industry experience, particularly in early stage drug development and translational medicine. His proven track-record of delivery, combined with his knowledge of the qualities that industry value in a project will be invaluable for our future investments.”
“Hiring a senior industry executive of Richard’s calibre and experience is a great endorsement of Apollo Therapeutics’ model and potential. We look forward to welcoming him to the team.”