February 2, 2022 – Toronto, Canada
Cyclica Inc. (“Cyclica”), a neo-biotech with the vision to advance the most robust and sustainable drug discovery pipeline and a portfolio company of GreenSky Capital, welcomes drug discovery veteran Michael (Mike) Palovich as Chief Science Officer, Head of Drug Discovery. Mike brings 24 years of drug discovery experience at GlaxoSmithKline (GSK), where he led drug discovery programs spanning multiple therapeutic areas with a highly successful track record. Most notably, Mike co-led the team who discovered umeclidinium, a regulatory-approved drug that is used in medicines for the treatment of various respiratory diseases. In his role at Cylica, Mike will lead a growing team of drug discovery scientists who are advancing a sustainable pipeline of therapeutically rich and diverse assets.
“I’ve had the distinct pleasure of getting to know Mike over the past few years. Beyond being a world class med chemist and drug hunter, he’s a visionary, and I have always been amazed at how his aspirations for the future of drug discovery and development align perfectly with Cyclica’s growth plans” indicates Naheed Kurji, Co-Founder, President and CEO of Cyclica.”It’s become increasingly clear that the future of drug discovery is in the hands of hyper innovative biotech companies who have a data and AI first strategy. Mike’s experience developing first in class medicines for patients with unmet needs is exactly what we need at Cyclica as we continue to drive forward our robust drug discovery pipeline.”
Palovich shares Kurji’s sentiment about his anticipated contribution as the Chief Science Officer: “I’m looking forward to collaborating with the innovative team at Cyclica to drive their robust pipeline forward. Ultimately, with our highly scalable AI-driven platform, I believe we will impact patients with new drugs faster than ever before. Drug discovery isn’t easy, and our ambitions are lofty, but I believe that my drug discovery experience, combined with a world-class team will lead to Cyclica being a leading biotech company. I’m very excited for this opportunity.”
“2 years ago, we invested in Cyclica’s vision to build the biotech pipeline of the future,” said Molly Bonakdarpour, one of Cyclica’s board members and partner at Drive Capital. “As an investor and a continued believer in what Cyclica is building, Mike’s two decades of experience discovering successful drugs, in combination with Cyclica’s robust pipeline, will have tremendous impact on the industry.”
Greg Stewart, Managing Partner, GreenSky Capital, email@example.com
Jennifer Sacco, Vice President of Marketing and Communications, firstname.lastname@example.org
We advance molecules that embrace the complexity of disease. We’re a neobiotech whose work spans dozens of collaborations with large pharma and biotech as well as several joint ventures. We are a passionate team of biotech and pharma professionals, biologists, chemists, and computer scientists who live and labour at the intersection of our collective expertise. To learn more about Cyclica please visit www.cyclicarx.com
About GreenSky Capital Inc.
GreenSky Capital Inc. is an award-winning Toronto-based firm that makes investments in early-stage Canadian technology companies through its affiliated venture capital funds and through facilitating the GreenSky President’s Club, a FedDev-registered angel group. Our principals bring a combination of experience in technology, entrepreneurship, law, and finance to high-growth potential companies and dedicated entrepreneurs. Learn more about GreenSky at www.greenskycapital.com.