14 May 2012, BioSpectrum Bureau , BioSpectrum
Singapore: Octa Phillip Bioscience Managers (OP Bioscience Managers) has taken another step in fulfilling its ambition of creating an all-star team by hiring Dr Graeme Wald, a top StarMine rated analyst. OP Bioscience's first fund's performance has been confirmed in the top decile of global (2008 ex-US) private equity funds and venture capital funds, and money worth Aus $55 million has already been committed to fund II. Dr Wald has been the sector's leading analyst and has raised primary and secondary capital worth Aus $750 million. He will build on the firm's impressive capability and track record.
OP Bioscience Managers, which leverages its knowledge and expertise of the sector to deliver above-market returns, has its sights set on A$200 million for fund II. Dr Wald is expected to be a valued addition to that capability. In addition to Dr Wald, the team has also added corporate affairs specialist and former chief executive of NZBIO, Mr Bronwyn Dilley.
Mr Jeremy Curnock Cook, managing director, OP Bioscience Managers, said that, "In addition to exceptional management and technology, our investment strategy is to look at the probable exit route of a company before we invest. This allows us to target our investments towards those companies where we believe the OP Bioscience Managers team can have the most impact and therefore the best chance of achieving a successful and profitable exit."
"We live in an age of increasing chronic disease, increasing healthcare costs and increasing pressure on the bottom lines of pharmaceutical companies. We invest in the companies that develop new treatments for chronic and debilitating diseases that directly or indirectly affect each and every one of us. We believe that this investment is socially responsible; supporting global health and the local economy," said Mr Cook.
Dr Wald has worked as a research/industrial chemist in South Africa and the US, and was a student fellow at the Weizmann Institute of Science in Israel. After working in industry he entered the stockbroking world as a chemical, pharmaceuticals and healthcare analyst, and became the top rated analyst at Merrill Lynch in South Africa for the pharmaceutical and healthcare sector and was part of the top rated international global emerging markets paper and pulp industry group. He then became a fund manager at Fedsure Asset Management before moving to Australia to join UBS as their transport analyst.
He joined Wilson HTM in 2003 where he became the Starmine top rated analyst in the biotechnology, pharmaceutical and healthcare sector, as measured by share recommendations and investor returns. At Wilson HTM he led lifesciences research on numerous IPO's and secondary raisings amounting to some $750 million. He is the founder of Gravitas Consulting & Investments which advises lifescience companies on valuations and strategy, and is a graduate of the Australian Institute of Company Directors.