Nanotherapeutics, Inc., a contract development and manufacturing organization (CDMO), announced that Prasad Raje, Ph.D., has been appointed President and Chief Executive Officer, succeeding James M. Matthew, who served as interim President and Chief Executive Officer and will retain his position as Chief Financial Officer.
Dr. Raje’s expertise in the CDMO space is expected to be a driving factor as Nanotherapeutics establishes its footprint in the commercial markets. According to industry sources, demand for CDMO services is increasing as biopharmaceutical companies face additional capacity needs, require access to a different set of capabilities than they currently have internally, and as they aim to establish a secondary supply in order to minimize risk. As a result, the market for biopharmaceutical outsourcing is expected to rise from 16% in 2015 to 34% by 2021, creating a $4+ billion market opportunity.
“We are delighted to welcome Dr. Raje to Nanotherapeutics at such an opportune time, having just completed the construction of our state-of-the-art, 183,000 square foot, BSL-3 capable, Alachua-based advanced development and manufacturing facility and as we transition to a full scale operation serving commercial and military customers,” stated Weaver H. Gaines, Chairman of the Board. “Dr. Raje is a strong leader, with demonstrated success in running and growing CDMO, Contract Manufacturing Organizations and Contract Research Organizations in the United States and abroad. He also has a good grounding in government contracting. The Board was particularly impressed with his customer directed mind set and his ability to drive the right culture for a services business. As we focus on becoming the global leader in advanced biologics manufacturing, with a focus on infectious disease, Dr. Raje’s background makes him a perfect fit.”
“On behalf of the Board of Directors, I also want to thank Jim Matthew for the job he has done steering the company through this interim period. We look forward to continuing to leverage Jim’s invaluable expertise as Chief Financial Officer.”
Prior to joining Nanotherapeutics, Dr. Raje spent the past two years as the Head of the Life Sciences Division of EAG Laboratories, a global CRO specializing in analytical and toxicology services. Dr. Raje created and built the Life Sciences Division, overseeing four global sites and approximately 800 employees, helping to drive top-line growth, substantially.
Before that, from 2012 to 2014, Dr. Raje was Site Head for Cambridge Major Laboratories, a private, equity-backed CRO and CDMO. While there, he was one of the chief architects of the company’s strategic plan to acquire AAI Pharma.
From 2009 to 2012, Dr. Raje served in various positions of increasing authority, including President as well as Chief Operating Officer and Managing Director for Smithers Pharma Services, part of The Smithers Group – a privately owned CRO with expertise in analytical services, pharmaceutical research and development and agrochemicals.
Dr. Raje spent the prior seven years, from 2002 to 2009, at Albany Molecular Research (AMRI), a global provider of CRO/CMO scientific services and products for the pharmaceutical, biotechnology and healthcare industries. From 2007 to 2009, Dr. Raje was located in Mumbai, where, as President and Managing Director of AMRI India PVT. LTD, he was responsible for establishing and managing the company’s 300 person India headquarters, including six manufacturing plants, as well as the company’s research and development activities and operations. Prior to his move to India, Dr. Raje also served as Site Director, Chemical Development and Section Head, Chemical Development, at the company’s facilities in the United States.
Earlier in his career, from 1997 to 2001, Dr. Raje was a Senior Research Scientist at Abbott Labs.
Dr. Raje holds both a Bachelor of Science in Chemistry and a Master of Science in Industrial Chemistry from Gujarat University, Gujarat, India, and earned his Ph.D. in Organic Chemistry from Auburn University in Auburn, Alabama.