Fund II Team
Gary Frashier brings extensive experience to the Fund, having served as a Chief Executive Officer for over 24 years in life science and specialty chemicals, and has over 17 years of experience in international operations. Gary served as the CEO and Chairman of OSI Pharmaceuticals, Inc, and it was during his nine year tenure at OSI that the leading genetic-based cancer drug, “Tarceva”, was discovered and developed through proof-of-concept human clinical trials. Tarceva is now sold globally by Roche, Genentech and Astellas for the treatment of many solid tumors with sales of over $1.9 Billion per year. OSI was acquired by Astellas in 2010 for a price of $4 Billion.
Prior to OSI, Gary served as Executive Vice President of Millipore Corporation and as President of their International Operations. When Millipore acquired Waters Corporation, he served as President and CEO of their Waters Chromatography subsidiary. Prior to this, he joined Genex Corporation, which discovered, developed and patented the first single-chain antibodies.
Gary financed over $250 Million in capital for his companies from a combination of equity fundings and other sources, and is a Strategic Partner in SV Life Sciences, a major Boston venture capital company. Gary has served as a founder of several life sciences companies, including Merrimack Pharmaceuticals, Eutropics, America Stem Cell, and Apex BioVentures Acquisition Corporation. He has also served on the Board of Directors of Maxim Pharma, Merrimack Pharma, Tekmira, Exegenics, Aderis Pharma, and Alseres Pharma, and is currently on the Boards of Achillion Pharmaceuticals, (NASDAQ:ACHN), ViroXis Corporation, StemBioSys and Metric Medical. Gary has a BS in Chemical Engineering from Texas Tech University and an MS from the Massachusetts Institute of Technology in Management (Alfred P. Sloan Fellow).