Durham venture capital firm Pappas Ventures has named Franz B. Humer, the retiring chairman of Roche Holding and a former CEO of the Swiss pharmaceutical giant, as a venture partner and senior advisor.
Humer is retiring as Roche’s chairman in March.
Art Pappas, managing partner of Pappas Ventures, issued a statement noting that throughout Humer’s career “he has consistently focused on the importance of innovation in creating products that can make a real difference to patients. He will be invaluable in helping us pursue this same vision.”
Humer, Pappas and Ernie Mario — also a venture partner at Pappas Ventures — worked together in the early 1990s at what is now GlaxoSmithKline, where they were senior executives and board members.
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Pappas Ventures, founded in 1994, focuses on investing in life sciences businesses. It has more than $350 million in capital under management.