Fund II Team
Mr. Savas brings executive leadership including nineteen years of CEO experience to the fund, and its portfolio company, StemBioSys. In 2000, Peter was recruited as Chairman CEO of Aderis Pharmaceuticals where he raised $45 million in new capital; attracted world-class directors and advisors including Nobel Laureates Paul Greengard (Rockefeller University) and Sir James Black (James Black Foundation); established enabling relationships with patient advocacy groups and the US Food & Drug Administration; and, developed strategic product development partnerships with Fujisawa Healthcare, King Pharmaceuticals and Schwarz Pharma. Nupro, Aderis’ lead product, is a novel, billion dollar transdermal patch commercialized by UCB for the treatment of Parkinson’s disease and Restless Legs Syndrome.
With the sale of Aderis to Schwarz Pharma, Peter was recruited as Chairman CEO of Alseres Pharmaceuticals (formerly Boston Life Sciences). He narrowed to company’s focus to Altropane, a proprietary in-vivo diagnostic for the definitive diagnosis of Parkinson’s and disease Lewy Body Dementia. With directors Robert Langer (MIT), Henry Brem (John’s Hopkins) and Gary Frashier (OSI), Peter and his management team negotiated a Special Protocol Assessment with the US FDA that reduced Altropane’s Phase 3 registration trial requirements by 6 years and $130 million while extending the company’s intellectual property expiry from 2013 to 2028. Altropane was licensed to Navidea with its Phase 3 registration trial scheduled to begin by year end 2013.
Prior to 2000, Peter spent the majority of his career as a general management executive for Waters Associates, Continental Water Systems Corporation, Genex Corporation and Zymark Corporation. Peter was chosen to pioneer the development and application of an emerging analytical technology platform as a senior research scientist and analytical chemist for Bristol Meyers. He holds a Bachelor of Arts (Chemistry) from Syracuse University.