Imperial Innovations' portfolio company appoints new executive chairman
Technology investment group Imperial Innovations Group has appointed Paolo Paoletti as executive chairman of its portfolio company Kesios Therapeutics.
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London-based Kesios, which develops novel therapeutics for cancer treatments, was created to develop and commercialise certain research from the Department of Medicine at Imperial College London is 48.4%-owned by Imperial Innovations.
Paoletti was the first chairman of the oncology arm of GlaxoSmithKline, which was sold to Novartis in 2014 for $16bn.
During his spell at the group, seven new treatments against different kinds of cancer were approved worldwide generating annual sales of about $2bn.
Imperial Innovations were down 0.41% to 477.52p at 16:06 on Friday.