SANTA ANA, Calif.--(BUSINESS WIRE)--MP Biomedicals, LLC., announced the appointment of Todd R. Nelson, Ph.D., to President & Chief Executive Officer of MP Biomedicals, effective immediately. Dr. Nelson comes to MP Biomedicals from eBioscience Corporation where he was Chief Executive Officer. Milan Panic, MP Biomedicals Founder and CEO, will remain as Chairman of the company.
Mr. Milan Panic commented: “Todd has the right combination of senior leadership experience, strategic planning and execution skills, as well as strong competencies in science, sales and marketing necessary to lead MP Biomedicals through its next stage of growth.”
Dr. Nelson commented: “I’m very excited about joining a fast growing company with the reputation and potential of MP Biomedicals. The company’s large portfolio of more than 55,000 life science reagents and diagnostic products, when combined with its and significant global manufacturing and commercial operations, represents a robust global platform for continued strategic expansion.”
Dr. Nelson continued: “I am honored to have the opportunity to continue to work closely with Mr. Panic, whose contributions as a leader, humanitarian, philanthropist and entrepreneur have enriched the MP Biomedicals business and the lives of the employees dedicated to its continued growth and success.”
Dr. Nelson joined the BOD of eBioscience, and was named CEO in 2007. Under Dr. Nelson’s leadership eBioscience was transformed into a rapidly growing, highly profitable global life sciences and diagnostic company. During his tenure, company revenues grew more than 250%; shareholder dilution was managed to less than 2.0%; and shareholder value increased by 6x. eBioscience, under Nelson’s leadership, successfully acquired and integrated Natutec GmBh, BenderMedsystems, and the life sciences division of Evident Technologies, and successfully executed a global commercial and operating strategy targeting the research and diagnostics segments of the cellular analysis market that contributed to the company’s greater than 20% compound annual growth rate in revenue and profits.
Prior to joining eBioscience, Corp., Nelson served as Vice President Global Corporate Development and Strategy of Life Technologies, Corp. LIFE:NASDAQ (previously Invitrogen, Corp) in 2005. In addition to being responsible for mergers and acquisitions functions globally, Nelson held primary responsibility for the development and implementation of both corporate and divisional strategies for the organization on a worldwide basis. Prior to that, he was Managing Director and Head, Global Life Sciences Corporate Strategy and Research at RBC Capital Markets, and First Vice President, Global Corporate Strategy and Economics at Merrill Lynch in New York.
Dr. Nelson has been a visible figure within the Life Sciences industry. During his more than 17 year tenure in the industry he has been responsible for the design and implementation of numerous corporate and operating strategies for various companies. He has been a founder of several biotechnology companies and either serves currently, or has previously served on the Board of Directors of eBioscience Corporation, TONBO Biotechnologies, Corp., Lokoya Capital Partners, LLC. Fluoropharma, Inc., and Blue Heron Biotechnologies, Inc.
Dr. Nelson graduated Magna Cum Laude with a Ph.D. from the University of Minnesota in molecular pathology and received advanced training as a senior fellow in clinical chemistry and molecular diagnostics at Mayo Clinic. Dr. Nelson received his MBA Magna Cum Laude from the Carlson School of Business.
About MP Biomedicals, LLC
MP Biomedicals is a world-wide corporation, with ISO-certified and FDA-approved manufacturing and distribution facilities throughout the globe (Solon, OH; Burlingame, CA; Strasbourg, France; Germany, Singapore, Japan, Australia, Shanghai and Beijing, China, Mumbai, India and headquartered in Southern California. MP Biomedicals manufactures and sells more than 55,000 products and is one of the few companies in the industry to offer a comprehensive line of life science, fine chemical and diagnostic products. MP Biomedicals Diagnostics manufacture and market their high quality diagnostics products in the segments of Western Blot, ELISA, Rapid Test, with over 25 years of research and development. A vast network of its own global infrastructure, distributors and satellite facilities throughout North and Latin America, Europe, Asia, Australia assures customers top quality products delivered when and where needed. For more information please visit www.mpbio.com.
About Milan Panic
Milan Panic has served as Chairman and Chief Executive Officer of MP Biomedicals, formerly ICN Biomedicals. He was Founder and former Chairman of the Board and Chief Executive Officer of ICN Pharmaceuticals, Inc., a global health care company, currently Valeant, NYSE:VRX.
Milan Panic founded ICN in 1959 after defecting from his native Yugoslavia, and built the company with the annual sales at the rate of $ 1 billion by the time he retired from the CEO position in 2002. At that time ICN was listed as 49th largest pharmaceutical company in the world.
From the very foundation, Mr. Panic’s leadership predated the dawn of the biological revolution, and his company started production of the first commercialized DNA, leading it to become the forerunner of a series of potentially new therapeutic molecules based on nucleic acid research. In early 1970s, the company formed Nucleic Acid Research Institute that procreated library of more than 5,000 nucleosides. The major successes of this work was the approval of the company’s flagship drug, Virazole® (ribavirin), which has been used to treat millions of people worldwide for a range of indications, including infants hospitalized with severe respiratory infections caused by respiratory syncytial virus (RSV). The drug, the first broad-spectrum antiviral, discovered and developed by ICN, under Mr. Panic’s leadership, is part of the FDA approved and worldwide recognized combination therapy for hepatitis C.
Mr. Panic, who was born in Belgrade in 1929, served as Prime Minister of Yugoslavia from 1992-1993. He gained worldwide respect and admiration, both for his commonsense approach to the complex problems and competing interests in that region, and for his untiring efforts to bring peace to his native country.
During his tenure as Prime Minister, Mr. Panic became a symbol of hope and freedom throughout Yugoslavia. He became a major figure on the world stage with his pivotal participation in the London Conference on Yugoslavia in August 1992, his address to the United Nations General Assembly (the “Speech of Peace”) the following month, and his appearance before the Parliament of the European Union in Brussels. In December 1992, The Wall Street Journal named him one of the “Europeans of the Year”.
After the primeministership, Mr. Panic continued active role in democratization of Serbia and former Yugoslav Republics. In 1995, he had instrumental role in the process of initiating and organizing The Dayton Peace Agreement that ultimately stopped the war in the region.
Mr. Panic’s continuous philanthropic contributions support various universities, research programs, museums, political causes, and charities, as well as international relief organizations for humanitarian aid in Eastern Europe, Latin America, and other parts of the world.
Contact:
MP Biomedicals, LLC
Alexandra Novak, 949-833-2500
