Portfolio Companies :Madaket
Gary RieschelFounding Managing Partner
Gary Rieschel has over 35 years of successful operating and investing experience as a senior executive, entrepreneur, investor, and global business strategist. Mr. Rieschel has held executive positions at Intel, Sequent Computer, Cisco Systems, and Softbank Corporation. Over the last 20 years as a venture capitalist, he led investments in 13 companies in the U.S. and China which grew to over $1B USD in market capitalization. Gary aided in the creation of the venture capital industry in China through sponsoring and founding several of China’s leading VC firms including Softbank China Ventures, SAIF Partners (2001), Ceyuan Ventures (2004), and Qiming Venture Partners (2006). He is Founding Managing Partner of Qiming, one of China’s preeminent VC firms with over $4.3B under management. In 2016, Gary returned to the U.S. after 12 years in China and launched Qiming’s first operation in the U.S. which now has over $300M USD under management invested in cutting edge healthcare investments. He remains on Qiming’s Executive and Investment Committees and represents Qiming on the board of Lanzatech, a leading environmental biotech company.
Mr. Rieschel is well regarded as a mentor to entrepreneurs, founders, and other venture capitalists. He is on the board of many preeminent environmental organizations including The Nature Conservancy (Montana), PERC (Free Market Environmentalism), the Climate Leadership Council, the Asia Society (Advisor) and he helped introduce the Rocky Mountain Institute into China. Gary also serves on the board of the U.S. Olympic Foundation and is a permanent member of the Council on Foreign Relations. He attended Reed College (Biology) where he is a long time Trustee, and Harvard Business School.
Mr. Rieschel now lives in Seattle, WA.
Gary holds a BA in Biology from Reed College in Portland, OR, and an MBA from the Harvard Business School. He lived in Japan for five years in the late 1980s and lived in Shanghai from 2005 through 2016. He now lives in Seattle, WA.
Mark BonyhadiOperating Partner
Mark Bonyhadi Ph.D. is an Operating Partner at Qiming Venture Partners USA, based in Seattle, WA. Prior to joining Qiming USA in December of 2018, Dr. Bonyhadi held positions of Vice President of Research, Head of Academic Affairs, and Vice President of Process Research Sciences from 2013-2018 at Juno Therapeutics, Inc., which was recently acquired by Celgene Corporation.
From 2006-2013, Mark was Director of Global Business Development for Cell Therapy at Invitrogen, which was merged with Applied BioSystems, to create Life Technologies, which subsequently was acquired by Thermo-Fisher. Dr. Bonyhadi was responsible for identifying and implementing business opportunities aligned with the Lifetech/Invitrogen/Thermo cellular medicine portfolio, participating and leading in the launch of the Cell Therapy Systems (CTS™) product line optimized for cell therapy applications, as well as working with academia and industry to accelerate the development of novel cell and/or gene-based therapies.
From 1997-2005, Dr. Bonyhadi served as Director and later Vice President of Research at Xycte Therapies, a public Seattle-based T cell therapy company treating cancer, infectious disease and autoimmunity. Before heading to Xcyte, Mark spent from 1990-1997 working his way up to a Senior Scientist level at SyStemix, a public Palo Alto-based biotech company developing hematopoietic stem cell based therapies for treating cancer, as well as gene-therapy approaches for treating HIV infection. The latter was a collaborative effort with Sandoz, which later merged with Ciba Geigy to become Novartis.
Dr. Bonyhadi did his Postdoctoral training at SyStemix with Drs. Mike McCune and Hideto Kaneshima studying HIV pathogenesis in the SCID-hu mouse model. Mark is a former Chair and current member of the Industry Liaison Committee for the American Society for Gene and Cell Therapy (ASGCT).
Mark received a B.A. from Reed College, Portland, OR and a Ph.D. from UC Berkeley in the lab a James P. Allison, where he studied T cell immunology. Since graduating from UC Berkeley, Dr. Bonyhadi has been focused on the development of commercially viable approaches for bringing cell therapies, gene-modified cell therapies, and regenerative medicine from the bench, to the clinic, and into commercial use over the past three decades. Dr. Bonyhadi currently lives in Seattle, WA.
Mark McDadeManaging Partner
Mark McDade, is a Managing Partner at Qiming Venture Partners USA, based in Cambridge, MA. Before joining Qiming in 2017, Mr. McDade was Executive Vice President, Chief Operating Officer at UCB. He led UCB’s worldwide Geographic Operations, Established Brands, Technical Operations and Business Development. He joined UCB’s Executive Committee in 2008.
From 2002 until late 2007, Mr. McDade served as Chief Executive Officer and a director of PDL Biopharma, an antibody-based biopharma located in Redwood City, CA, USA. Prior to PDL, he served as CEO of Signature Bioscience, located in San Francisco, CA. Mark was founder and a director of Corixa Corporation, where he served as Chief Operating Officer from September 1994 to December 1998 and as President and Chief Operating Officer from January 1999 until his departure in late 2000 to join Signature. Before Corixa, Mark was COO of Boehringer Mannheim Therapeutics, the bio-pharmaceutical division of Corange, and prior to that held several positions at Sandoz Ltd. Including business development, product management and general management.
Mr. McDade serves on the Board of directors of FivePrime Therapeutics (FPRX), Dermira (DERM) and Aimmune Therapeutics (AIMT), all publicly traded biotechs in the SF Bay Area. Mark received a BA from Dartmouth College and an MBA from the Harvard Business School.
QM US portfolio: Mark serves on the boards of Cadent Therapeutics, LetsGetChecked, myHealthteams, Platelet Biogenesis, Talaris Therapeutics, and WindMIL Therapeutics. He led our investments in Kezar Life Sciences (KZR) and Twine Health (acquired by FitBit (FIT)).
Christopher ShenManaging Partner
Christopher Shen MD, is a Managing Partner at Qiming Venture Partners USA, based in Los Altos, CA. Prior to joining Qiming, Dr. Shen was a Managing Director and head of U.S. healthcare investing at Vertex Ventures Healthcare. Dr. Shen specializes in investments in biopharmaceutical and medical device companies. He has worked with seven companies that have since gone public or been successfully acquired, worth over US$2.1 billion in value. Notable past investments include Twelve (acquired by Medtronic), Entellus Medical (acquired by Stryker), Nellix Endovascular (acquired by ELGX), Bridgepoint Medical (acquired by BSC), Evalve (acquired by Abbott), Glycomimetics (IPO), Ivantis, and Moximed.
Previously, Dr. Shen worked at Essex Woodlands, a healthcare-focused venture capital and private equity firm. Prior to joining Essex, he worked at New Enterprise Associates, one of the largest diversified venture capital firms. Previously, Dr. Shen held the position of Senior Design Engineer at Guidant Corporation’s Neurovascular Venture, an internal start-up, where he invented and commercialized a minimally-invasive therapy for the treatment of acute ischemic stroke. Dr. Shen also worked in Japan as a Design Engineer for Pfizer Inc.’s Strategic Innovation Group, an internal medical technology incubator.
Dr. Shen is the US Executive Director of the Singapore Stanford Biodesign Program and a Consulting Associate Professor of Medicine at Stanford University, focusing on medical technology innovation. He is also an Adjunct Professor at Stanford Business School. He has nine patents issued and several pending in the fields of interventional neuroradiology and interventional cardiology.
Dr. Shen received his MD, MBA, MS in Biomechanical Engineering and BS in Biological Sciences all from Stanford University.
QM US portfolio: Chris serves on the board of Cardialen and Nuvaira
Anna French Ph.D. is a Principal at Qiming Venture Partners USA, based in Cambridge, MA. Prior to joining Qiming in 2017, Dr. French was a management consultant at the Boston Consulting Group (BCG) where she advised leading biopharma companies on their strategy and operations. She also led a global industry-academic consortium focused on cell therapy commercialization. Dr. French earned a D.Phil from the University of Oxford, UK where her research focused on hematological differentiation of human induced pluripotent stem (iPS) cells. She has over 20 publications in the field of stem cell research.
QM US portfolio: Anna serves on the board of WindMIL Therapeutics and Jasper Therapeutics and is a board observer with LetsGetChecked, Talaris Therapeutics, Cadent Therapeutics, and Platelet Biogenesis.
Portfolio Companies :Amphivena Therapeutics
Colin Walsh Ph.D. is a Principal at Qiming Venture Partners USA, based in Los Altos, CA. Before joining Qiming in April 2019, Dr. Walsh was a Vice President on the life science investment team at NanoDimension where he sourced, structured, and managed investments in biotech, biopharma, and platform companies. Prior to NanoDimension, Dr. Walsh was an early employee at Precision NanoSystems (PNI), a 5AM Ventures backed biotech startup developing a suite of technologies to enable the development and manufacture of complex drug formulations. At PNI, he focused extensively on RNA- and DNA- based therapeutics, and held a variety of product and business development roles where he worked closely with management to define the strategy and direction of the business.Dr. Walsh earned a Ph.D. from the UC Berkeley – UCSF Graduate Program in Bioengineering where he worked on novel delivery systems for RNA-based therapeutics as an NSF Graduate Research Fellow in the lab of Dr. Frank Szoka. He holds a Management of Technology certificate from the UC Berkeley Haas School of Business, and a dual BS with Honors in Chemical Engineering and Biochemistry from the University of Massachusetts, Amherst.Dr. Walsh currently serves on the business advisory board for the Harvard Medical School Initiative for RNA Medicine. He is also an advisor to the Stanford SPARK program and the UCSF Catalyst program where he provides mentorship and support to student- and faculty-led translational research projects.
Portfolio Companies :Element Science
Andrew CleelandSenior Advisor
Andrew is a seasoned executive with 30 years in the medical device industry in both the private and public sectors.
Prior to joining the Fogarty Institute, he was vice president and general manager of Medtronic’s (MDT:NYSE) Transcatheter Mitral Valve business following its 2015 acquisition of Twelve Inc., where he was president and CEO. Prior to Twelve, he was president and CEO of Ardian Inc., the pioneer of renal denervation for hypertension, heart failure and other associated disorders, which was also acquired by Medtronic in 2011. Together these two acquisitions totaled $1.5B.
Andrew began his career with the Australian Therapeutic Goods Administration, progressed to large med tech companies in Telectronics Pacing Systems and Baxter Healthcare (BAX:NYSE), then onto the Silicon Valley start-up space working with Radiant Medical, Ardian and Twelve.
He is currently vice chairman of The Foundry, the premier medical device incubator based in Menlo Park, Calif., and serves as a director for two venture-funded companies, nVision Medical and Saluda Medical.
Andrew has received numerous awards and honors, and is a frequent guest lecturer at Stanford University. He is passionate about healthcare and a champion of innovators and innovation in the medtech field. He holds a Bachelor of Applied Science (biophysics) from the Swinburne Institute of Technology.
Franklin BergerSenior Advisor
Franklin currently serves on the board of six public biotechnology companies: Five Prime Therapeutics, Inc., Bellus Health, Inc., ESSA Pharma, Inc., Proteostasis, Inc., Tocagen, Inc. and Kezar Life Sciences. Previous public company board service included 11 years with Seattle Genetics, Inc., seven years with VaxGen, Inc. (vaccines/biodefense) and Aurinia (previously Isotechnika), based in Canada. He also serves or has served on private biotech company boards including Atreca, Inc., Applied Therapeutics, Inc., Immune Design, Inc. (Merck acquisition 2019), Rain Therapeutics, Inc., CERUS Endovascular, Inc., Caprion Proteomics, Inc. (sold July 2012) and ViroChem Pharma, Inc. which was purchased by Vertex Pharmaceuticals, Inc. for $400 million in 2009. Mr. Berger has led multiple M & A analyses resulting in >$3 billion in transaction value.
Mr. Berger started his consulting practice in 2003 after leaving J. P. Morgan Securities, Inc. as head of biotechnology equity research. His clients were exclusively biotechnology industry participants including major biopharmaceutical firms, mid-capitalization biotechnology companies, specialist asset managers and venture capital companies. Assignments included business development, strategic advisory/financings, partnering and royalty acquisitions. Past mandates included Stemcentrx, PDL BioPharma, Inc., Intra-Cellular Therapeutics, Inc., Serono, Merck KGaA, Threshold Pharmaceuticals, Valeant (formerly Biovail), Kleiner Perkins Caufield & Byers (incomplete list).
As a senior portfolio manager on the buy-side, Mr. Berger worked at Sectoral Asset Management as a co-founder of the small-cap focused NEMO Fund from 2007 through June 2008. Franklin reduced his consulting practice commitment during his full-time employment with Sectoral Asset Management.
Mr. Berger spent 12 years in sell-side equity research, most recently as Managing Director, U.S. Equity Research, J. P. Morgan Securities, Inc., from May 1998 to March 2003. During his five years at J. P. Morgan Securities, Inc., he was involved with the issuance of over $12 billion in biotechnology company equity or equity-linked securities. Most of these transactions were lead-managed and book-run by the J. P. Morgan Biotech Team. He was associated with several notable financings in the biotechnology sector including the Genentech IPO, then the largest biotechnology IPO financing ever executed, the first large Celgene Corporation financings as well as several large-cap biotechnology companies in their rapid growth phase. His team covered 26 publicly-traded biotechnology companies. Mr. Berger began his career as a sell-side analyst at Josephthal & Co. in 1991, subsequently moving to Salomon Smith Barney in 1997 serving as Director, Equity Research and Senior Biotechnology Analyst.
Institutional Investor Magazine ranked him #3 on J. P. Morgan’s All-Star Research Team. The Wall Street Journal selected Mr. Berger as the No. 1 ranked biotechnology analyst in its All-Star Analyst Survey in 1997 and No. 2 ranked in the WSJ’s 2000 Survey. In 2000, he became a Founding Fellow of the Biotechnology Study Center at New York University School of Medicine.
Mr. Berger received his MBA from Harvard Business School in 1975; Johns Hopkins University conferred both his MA and AB degrees in 1971 and 1972, respectively.
Robert HeadleySenior Advisor
Robert Headley is a partner at Ignition. He joined the firm in 2000. Robert has led fundraising efforts for more than $2 billion in capital commitments across seven Ignition and affiliated funds.
Robert previously served as a director for Enclarity (acquired by LexisNexis), Extend America (acquired by Spring) and several other Ignition portfolio companies.
Prior to joining Ignition, Robert spent seven years at Starbucks Coffee Company, most recently as vice president, finance & treasurer. In that role, he managed Starbucks investor relations, corporate development, Treasury, business planning & analysis, and profit improvement functions.
Before Starbucks, Robert spent three years in the principal investment area and investment banking division of Goldman Sachs in New York and Sydney, Australia.
Robert holds an MS and BS degree with distinction in industrial engineering from Stanford University.