BioTime Announces Appointment of Chief Financial Officer
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“Pete brings a great deal of experience to BioTime, having led the financial teams of several biotechnology companies that were at similar points in the preliminary stages of their growth,” said Michael D. West, President and CEO of BioTime, Inc. “Early in his career he held positions of increasing responsibility over several years as a financial executive with Amgen Inc. Pete then became CFO of Dendreon Corp. early in its development, and was instrumental in raising over $30 million of capital that funded its initial therapeutic development work. More recently, he has served as the CFO for four U.S. biotechnology companies. We look forward to benefiting from Pete’s expertise in broadening our relationships within the investment community and the biopharma industry, and in developing and managing our financial organization.”
Mr. Garcia has been the Chief Financial Officer of six biotech and high-tech companies since 1996, and was instrumental in raising over $500 million and leading multiple merger and acquisition transactions for these companies. He was most recently with Marina Biotech Inc. managing finance and investor relations efforts, as well as the corporate communications, IT and facilities functions. From 2004 to 2008, Mr. Garcia was CFO of Nanosys Inc., a leading nanotechnology company, where he led the efforts in raising the largest private nanotechnology company financing in 2005 ($48 million). From 1996 to 2004, Mr. Garcia was CFO of four Bay Area biotech companies: Nuvelo Inc., Novacept, IntraBiotics Pharmaceuticals and Dendreon Corp. From 1990 to 1996, he was a financial executive with Amgen Inc. during its early days of commercializing therapeutics.
Mr. Garcia graduated from Stanford University in 1983 with a Bachelor of Arts degree in economics and sociology with honors. In 1985 he earned his MBA from the University of California Los Angeles with a concentration in Finance and Accounting.
Robert W. Peabody, who was interim Chief Financial Officer, will continue his role as Senior Vice President and Chief Operating Officer.
