Thursday, May 15, 2008

Fate Therapeutics Adds CEO, Chairman

Seattle-based biopharmaceutical firm Fate Therapeutics reported Wednesday that it has hired Paul A. Grayson as president and chief executive officer and appointed John Mendlein as executive chairman. Prior to joining Fate Therapeutics, Grayson was managing director of Sanderling Ventures. He has also served as chairman of Naviscan PET Systems and CalciMedica's board of directors. Until recently, Mendlein was CEO of Adnexus Therapeutics, which Bristol-Myers Squibb Co. acquired for more than $505 million in October 2007. Founded in early 2007, Fate Therapeutics is a private held company that has raised more than $15 million in venture financing from ARCH Venture Partners, Polaris Venture Partners, Venrock, OVP and other investors.