Announcement: BioAccel Leadership Change

Tuesday, June 12, 2018

Dear Friends and Colleagues:

I hope that all of you are well and have great plans for the summer! Hard to believe the summer is already upon us.
 
As Chairman of the BioAccel Board I wanted to update you on a change in BioAccel leadership.  For family reasons, Sergio Gazic is relocating to the east coast and must step down as the CEO of BioAccel, effective June 15, 2018.   This is a great loss for BioAccel as Sergio has worked very hard in the past year to build BioAccel, expand the role of our Council of Advisors and to support our portfolio companies.  The good news is that Sergio has agreed to be a member of the BioAccel Council of Advisors and therefore will continue to support our companies and our mission! We of course wish him only the best of luck in his new endeavors but glad to know that he will continue to be part of the BioAccel team!
 
Sergio has been working closely with the BioAccel Board to ensure that the mission and efforts that BioAccel was founded on will continue, and have a strong impact on the growth of medical technology ideas and startups throughout Arizona.  From its inception in 2009, BioAccel has been committed to accelerating the commercialization of medical technologies in AZ.  To date, BioAccel has supported the development of 23 game-changing medical technologies through early-stage investment, mentoring and training programs.  Over the coming months, BioAccel will continue its efforts to have a positive impact in the community.  Plans are in place to launch a modified program that will focus on building the early stage investment network and providing workshops and training programs to assist early stage bioscience starts up companies.  During this transition period BioAccel will not be making any new investments, outside of the BioAccelerator Fund, but will rather focus its efforts and support with the current portfolio of companies. The current listing of these companies can be found at - http://bioaccel.org/portfolios. 
 
To fill the leadership vacuum left by Sergio, the BioAccel Board has asked that, in addition to his role as President/Manager, BioAccelerator Fund I (BAF1), Romi Dhillon serve as Senior Advisor to the Board and BioAccel.  In this role, he will be the point person to provide support and assistance to the portfolio companies, which aligns perfectly with his activities related to the BAF1 portfolio of companies.   While we will not immediately recruit a new CEO, once a new CEO is appointed, and we have built a stronger early stage investment network, we plan to resume our commitment with investments into new early-stage medical technology startups.    And of course, Nikki Corday will continue to provide the outstanding services that she has since the inception of BioAccel.  Nikki will be the COO, and in that capacity oversee BioAccel Programs, Sponsorships and Operations infrastructure.
 
We look forward to the continued success of BioAccel as we move into a new phase of development and hope we can continue to count on all of your for support!
 
Warm regards,

MaryAnn Guerra
Co-Founder & Chairman of the Board, BioAccel