Danish drug discovery company imports high profile CEO  

2003.05.09
Nuevolution announces appointment of Briton Zahed Subhan as its new Chief Executive Officer

Danish drug discovery company Nuevolution has announced the appointment of 45 year old Briton Zahed Subhan as its new Chief Executive Officer. Dr Subhan, who holds degrees in neuroscience, business and law, has 20 years experience in the pharmaceutical and biotech industries. He joined Nuevolution from the US biotech company Locus Pharmaceuticals where he was Vice President of Business Development.

 

Nuevolution has reached the end of its 2 year start-up phase and now aims to accelerate commercialisation of its proprietary Chemetics technology, which is reportedly able to synthesize and identify multiple clinical candidates to virtually any target in weeks. Chemetics combines wet chemistry and molecular biology approaches to enable synthesis and selection of billions of drug-like compounds in a single test tube.

 

Nuevolution A/S was founded in May 2001 and is headquartered in Copenhagen. To date, Nuevolution has raised DKK 80 million (USD 12 million) in venture capital, investors including Novo A/S, Nordic Biotech K/S and The Danish Growth Fund. The company is currently in the process of raising a further DKK 165 million (USD 24.8 million) with a long term view to potentially developing drugs of its own. The news is reported by financial daily newspaper Børsen.

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