John LaMattina, Pfizer's former R&D chief, has made the leap into the venture field, joining PureTech Ventures as a senior partner. After putting in 30 years at the drug giant, LaMattina retired as president of global R&D at Pfizer about two years ago. But he was lured to PureTech by its start-up model: finding breakthrough technologies and then building a biotech company around it.
"I was impressed by (PureTech's) non-traditional model," LaMattina told Xconomy. "Rather than wait for start-ups to come to them for funding, PureTech looks to key areas of medical need where they would like to invest, seeks out experts in that field, and does extensive research into where the next key breakthrough can be made."
LaMattina was handed an exit package worth $22.6 million when he departed under the cloud of failure surrounding torcetrapib. He is the author of "Drug Truths: Dispelling the Myths About Pharma R&D."
- read the release
- check out the story from Xconomy